Illinois is one of the most diverse commercial real estate markets in the country, anchored by Chicago’s massive urban economy but extending to significant regional markets in Rockford, Peoria, and the Quad Cities. Chicago’s central position as a logistics hub drives consistent industrial and warehouse demand, while its diverse economy supports multifamily, office, retail, and hospitality lending across all submarkets.
Commercial Loans of Texas is a direct lender headquartered in Magnolia, TX, licensed in 43 states. We do not lend in Illinois — it is one of the seven states outside that licence, and this page is here so you are not left guessing. We make our own credit decisions — no broker, no middleman, no surprises at closing. In the 43 states we are licensed in, our borrowers typically close in 5–15 business days.
Commercial Loan Programs — in the 43 States We Serve
We offer every major commercial loan program in the 43 states we are licensed in, from fast hard money loans to long-term 30-year fixed financing. Most programs require no tax returns and no upfront fees.
- Hard Money Loans — Asset-based lending up to 65% LTV. No income docs. Close in 5–10 business days. Ideal for acquisitions, fix-and-flip, and value-add commercial properties.
- DSCR Loans — Qualify on the property’s rental income, not your W-2 or tax returns. Great for investment properties and landlords.
- Stated Income Commercial Loans — No tax returns required on most programs. Built for self-employed borrowers, business owners, and investors.
- SBA 7(a) and SBA 504 Loans — Government-backed financing for owner-occupied commercial real estate and business acquisitions. Available in every state we are licensed in.
- Bridge Loans — Short-term capital to close quickly while permanent financing is arranged. Common in competitive markets.
- Construction Loans — Ground-up construction and major renovation financing for commercial projects.
- Multifamily Loans — 5+ unit apartment financing with competitive rates, available in every market we are licensed in.
- 30-Year Fixed Commercial Loans — Long-term, fixed-rate commercial financing for stabilized investment properties.
Property Types We Finance
- Office buildings and medical office
- Retail strip centers and single-tenant NNN properties
- Industrial, warehouse, and flex space
- Multifamily (5+ units) and mixed-use buildings
- Self-storage facilities
- Hotels, motels, and short-term rental properties
- Church and faith-based properties
- Special use and non-warrantable properties
- Land and ground-up development
Our Loan Terms
| Feature | Details |
|---|---|
| Loan Amounts | $200,000 – $5,000,000+ |
| Max LTV | Up to 70–75% depending on program |
| Loan Term | 12 months to 30 years |
| Income Docs | None required on most programs |
| Min Credit Score | 600+ (some programs lower) |
| Closing Time | 5–15 business days typical |
| Upfront Fees | None |
| States | 43 states — Illinois is not among them |
Illinois Commercial Real Estate Markets
We do not lend in Illinois, so we cannot fund a property in Chicago, Aurora, Rockford, Joliet or Naperville. The market notes below are for reference. If the property you are financing is in one of the 43 states we are licensed in, call us for a same-day quote — and if it is not, we will point you to a lender who can help, at no charge.
Why Borrowers Choose Us Over Local Banks
Local banks are often slow, require mountains of documentation, and reject borrowers who don’t fit a narrow qualification box. We work differently.
- Direct lender since 1998 — We fund our own loans. No committee approval delays.
- Same-day response — Submit your deal and hear back from a decision maker within hours, not days or weeks.
- No upfront fees — We never charge application fees, processing fees, or due diligence fees before closing.
- No tax returns on most programs — We qualify based on the asset and its income, not your personal tax history.
- Fast closings — Most of our commercial loans close in 5–15 business days from application to funding.
- Common-sense underwriting — We look at the deal, not just the borrower’s credit file. If the property makes sense, we find a way to fund it.
Frequently Asked Questions
Do I need a business entity in the property’s state to get a commercial loan?
No. You can borrow as an individual, LLC, corporation, or partnership. Most investors use an LLC for liability protection, but it is not required to qualify. We lend to all entity types.
How fast can you close a commercial loan?
Most of our commercial loans close in 5–15 business days from application to funding, depending on the program and how quickly the appraisal is completed. Hard money loans can sometimes close in as little as 5 business days. We provide a same-day term sheet so you know exactly where you stand.
What Commercial Loans Are Most Popular in Illinois?
Hard money and bridge loans are widely used in Chicago and suburban Illinois for value-add multifamily deals and fast-moving acquisition opportunities. DSCR loans are popular for Illinois’s large pool of investment property owners. SBA loans are common for Chicago-area small businesses purchasing their storefronts and office condos.
What is your minimum loan amount?
Our minimum loan amount is $200,000 for commercial properties in the states we are licensed in. There is no stated maximum — call with the deal and we will size it. For deals under $200,000, we can sometimes make exceptions depending on the property type and location.
Financing a commercial property in one of the 43 states we are licensed in? Apply online here or call us at 877-895-3634. Same-day response, no credit pull, no upfront fees. We have been closing commercial loans since 1998 and we know how to get difficult deals done.
Illinois Commercial Real Estate Markets by City
We do not lend in Illinois. Here is an overview of the state’s major commercial real estate markets, for reference.
Commercial Loans in Chicago, Illinois
Chicago is the Midwest’s largest and most liquid commercial real estate market, with deep demand across multifamily, industrial, office, and retail sectors. The city’s central logistics position drives massive warehouse and distribution investment. Hard money and bridge loans are widely used for Chicago’s enormous value-add multifamily and commercial market.
Commercial Loans in Aurora, Illinois
Aurora is one of Chicago’s largest suburbs and a major logistics hub along the I-88 corridor. Industrial and warehouse demand is consistently strong, and affordable multifamily prices attract investors from the higher-cost city market. DSCR loans are popular for Aurora’s income-property investor community.
Commercial Loans in Rockford, Illinois
Rockford is Illinois’s second-largest city and an affordable industrial and multifamily market. Cap rates are strong relative to the Chicago metro, attracting value-focused investors. Stated income and hard money programs are popular for Rockford’s investor base, many of whom are self-employed.
Commercial Loans in Joliet, Illinois
Joliet is one of the nation’s premier industrial markets, anchored by massive logistics parks along the I-80 corridor. Amazon, Home Depot, and other major e-commerce operators have significant warehouse presence here. Bridge and hard money loans are popular for fast-moving industrial acquisitions.
Commercial Loans in Naperville, Illinois
Naperville is one of Chicago’s most affluent suburbs and a major corporate office market. Class A office and high-end retail along Route 59 and the downtown corridor see consistent demand. SBA loans are popular for Naperville’s large professional services and small business community.