Midland States Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Midland States Bank · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 31 | $13.7M | $443K | 3.5% |
| 621310 | Offices of Chiropractors | 24 | $2.0M | $84K | 2.7% |
| 713940 | Fitness and Recreational Sports Centers | 24 | $8.8M | $368K | 2.7% |
| 811111 | General Automotive Repair | 19 | $5.6M | $296K | 2.1% |
| 722511 | Full-Service Restaurants | 18 | $15.2M | $843K | 2.0% |
| 484121 | General Freight Trucking, Long-Distance, Truckload | 14 | $4.6M | $331K | 1.6% |
| 812112 | Beauty Salons | 14 | $2.4M | $168K | 1.6% |
| 561730 | Landscaping Services | 13 | $1.7M | $129K | 1.5% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 12 | $3.0M | $248K | 1.3% |
| 236118 | Residential Remodelers | 12 | $5.3M | $438K | 1.3% |
Geographic Distribution
SBA lending activity for Midland States Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 664 | $208.6M | 74.4% |
| Missouri (MO) | 169 | $52.9M | 18.9% |
| Ohio (OH) | 6 | $10.7M | 0.7% |
| Michigan (MI) | 5 | $8.1M | 0.6% |
| Wisconsin (WI) | 7 | $5.9M | 0.8% |
| Indiana (IN) | 7 | $4.8M | 0.8% |
| Pennsylvania (PA) | 1 | $3.9M | 0.1% |
| Florida (FL) | 6 | $3.3M | 0.7% |
| Colorado (CO) | 6 | $3.1M | 0.7% |
| California (CA) | 4 | $2.3M | 0.4% |
| Alabama (AL) | 1 | $2.2M | 0.1% |
| Maryland (MD) | 1 | $1.3M | 0.1% |
| Washington (WA) | 3 | $1.0M | 0.3% |
| West Virginia (WV) | 1 | $900K | 0.1% |
| Hawaii (HI) | 2 | $839K | 0.2% |
| South Carolina (SC) | 1 | $656K | 0.1% |
| Texas (TX) | 1 | $579K | 0.1% |
| Minnesota (MN) | 1 | $448K | 0.1% |
| North Carolina (NC) | 1 | $434K | 0.1% |
| Nebraska (NE) | 1 | $344K | 0.1% |
| New York (NY) | 1 | $330K | 0.1% |
| Tennessee (TN) | 1 | $324K | 0.1% |
| Virginia (VA) | 1 | $321K | 0.1% |
| Mississippi (MS) | 1 | $320K | 0.1% |
Why Choose Midland States Bank?
Based on SBA 7(a) lending track record from 1991-2025
- ✓Proven Track Record: 892 SBA loans approved, totaling $313.6M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Offices of Chiropractors, Fitness and Recreational Sports Centers
- ✓Competitive Terms: Average interest rate of 6.72% with flexible term lengths averaging 112 months
- ✓Loan Range: Loan sizes from $6K to $5.0M, with an average of $352K
- ✓Nationwide Reach: Active lending in 24 states, with strong presence in IL, MO, IN
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Midland States Bank SBA lending
What types of businesses does Midland States Bank typically finance?
Midland States Bank specializes in SBA 7(a) lending to specific industries including limited-service restaurants, offices of chiropractors, fitness and recreational sports centers, general automotive repair. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Midland States Bank's typical SBA loan terms?
Midland States Bank's SBA 7(a) loans typically feature an average interest rate of 6.72% and average term length of 112 months (approximately 9 years). Loan sizes range from $6K to $5.0M, with an average loan size of $352K.
Do I need a business valuation for a Midland States Bank SBA loan?
Yes, Midland States Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Midland States Bank compare to other SBA lenders?
Midland States Bank has originated 892 SBA loans totaling $313.6M since 1991. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Midland States Bank lend in?
Midland States Bank provides SBA 7(a) financing with particularly strong presence in IL, MO, IN, WI, OH. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Certified valuations are often required for SBA loans over $250,000.
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