Millennial Bank
SBA 7(a) Lending Profile · FY 2022 analysis
Industry Focus
Top industries served by Millennial Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722513 | Limited-Service Restaurants | 24 | $7.4M | $310K | 10.0% |
| 423390 | Other Construction Material Merchant Wholesalers | 24 | $20.7M | $864K | 10.0% |
| 621111 | Offices of Physicians (except Mental Health Specialists) | 16 | $35.5M | $2.2M | 6.7% |
| 446110 | Pharmacies and Drug Stores | 8 | $4.1M | $515K | 3.3% |
| 321920 | Wood Container and Pallet Manufacturing | 8 | $39.8M | $5.0M | 3.3% |
| 488410 | Motor Vehicle Towing | 8 | $10.6M | $1.3M | 3.3% |
| 621320 | Offices of Optometrists | 8 | $1.2M | $150K | 3.3% |
| 423910 | Sporting and Recreational Goods and Supplies Merchant Wholesalers | 8 | $7.0M | $872K | 3.3% |
| 524210 | Insurance Agencies and Brokerages | 8 | $4.2M | $531K | 3.3% |
| 448130 | Children's and Infants' Clothing Stores | 8 | $3.8M | $479K | 3.3% |
Geographic Distribution
SBA lending activity for Millennial Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Alabama (AL) | 192 | $220.8M | 80.0% |
| North Carolina (NC) | 8 | $33.5M | 3.3% |
| Florida (FL) | 8 | $24.0M | 3.3% |
| Virginia (VA) | 8 | $10.6M | 3.3% |
| South Carolina (SC) | 8 | $8.0M | 3.3% |
| Texas (TX) | 8 | $2.8M | 3.3% |
| Louisiana (LA) | 8 | $2.0M | 3.3% |
Why Choose Millennial Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 240 SBA loans approved, totaling $301.7M in financing
- ✓Industry Expertise: Specialized focus on Limited-Service Restaurants, Other Construction Material Merchant Wholesalers, Offices of Physicians (except Mental Health Specialists)
- ✓Competitive Terms: Average interest rate of 7.39% with flexible term lengths averaging 194 months
- ✓Loan Range: Loan sizes from $75K to $5.0M, with an average of $1.3M
- ✓Nationwide Reach: Active lending in 7 states, with strong presence in AL, FL, NC
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 Millennial Bank SBA lending
What types of businesses does Millennial Bank typically finance?
Millennial Bank specializes in SBA 7(a) lending to specific industries including limited-service restaurants, other construction material merchant wholesalers, offices of physicians (except mental health specialists), pharmacies and drug stores. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Millennial Bank's typical SBA loan terms?
Millennial Bank's SBA 7(a) loans typically feature an average interest rate of 7.39% and average term length of 194 months (approximately 16 years). Loan sizes range from $75K to $5.0M, with an average loan size of $1.3M.
Do I need a business valuation for a Millennial Bank SBA loan?
Yes, Millennial 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 Millennial Bank compare to other SBA lenders?
Millennial Bank has originated 240 SBA loans totaling $301.7M since 2020. 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 Millennial Bank lend in?
Millennial Bank provides SBA 7(a) financing with particularly strong presence in AL, FL, NC, TX, SC. 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?
Professional valuations are often required for SBA loans over $250,000.
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