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Business Verification

Shela Heramis

January 27, 2026

February 10, 2026

11 Minutes Read

Illinois Business Entity Verification for Alternative Lenders

Illinois ranks among the top 5 states for small business activity, with Chicago driving significant alternative lending volume. The Illinois Secretary of State uses a 'Not Good Standing (NGS)' status that is common and often indicates just a missed annual report. This guide maps Illinois's 9 entity statuses to lending decisions and explains how to handle the frequently encountered NGS status.

Alternative Financing

Shela Heramis

August 26, 2025

August 28, 2025

6 Minutes Read

What are the consequences for Illinois companies with "NGS" status?

At Cobalt Intelligence, we’re dedicated to empowering alternative funders like you with real-time, primary source business verification.

Alternative Financing

Shela Heramis

August 26, 2025

August 27, 2025

6 Minutes Read

Why is your business currently listed as Not Good Standing (NGS) with the Illinois Secretary of State?

In Illinois, a business listed as "Not Good Standing (NGS)" means that it "is currently operational but has not met certain state requirements, such as filing deadlines or fee payments, and is at risk of further penalties or dissolution if not rectified".

Alternative Financing

Shela Heramis

August 26, 2025

6 Minutes Read

What does an "NGS" status mean for Illinois businesses and how does it differ from active status?

An NGS status is a flashing yellow light, demanding a deeper dive than a straightforward 'Active' designation. Let's unpick what these mean for businesses in the Prairie State and, crucially, for your lending decisions.

Alternative Financing

Jordan Hansen

September 16, 2024

August 28, 2024

2 Minute Read

Illinois 9 Business Entity Status Definition

Illinois business entity statuses definition helps in making informed decisions, reducing the risks of default, and improving investment success.

Access Real-Time Secretary of State Data and Automate your underwriting process. We help Alternative Funders work smarter through AI Technology. Get our FREE AI Tools here