Millennium Bank
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Millennium Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 721110 | Hotels (except Casino Hotels) and Motels | 1,096 | $3.15B | $2.9M | 55.9% |
| 447110 | Gasoline Stations with Convenience Stores | 120 | $150.2M | $1.3M | 6.1% |
| 457110 | Other | 88 | $156.4M | $1.8M | 4.5% |
| 722511 | Full-Service Restaurants | 80 | $107.0M | $1.3M | 4.1% |
| 445310 | Beer, Wine, and Liquor Stores | 64 | $63.4M | $991K | 3.3% |
| 445320 | Other | 56 | $96.8M | $1.7M | 2.9% |
| 812112 | Beauty Salons | 40 | $39.1M | $977K | 2.0% |
| 445131 | Other | 32 | $14.9M | $467K | 1.6% |
| 484121 | General Freight Trucking, Long Distance, Truckload | 24 | $29.5M | $1.2M | 1.2% |
| 811192 | Car Washes | 16 | $39.4M | $2.5M | 0.8% |
Geographic Distribution
SBA lending activity for Millennium Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Illinois (IL) | 1,048 | $2.17B | 53.5% |
| Indiana (IN) | 280 | $639.0M | 14.3% |
| Wisconsin (WI) | 104 | $294.3M | 5.3% |
| Texas (TX) | 64 | $128.8M | 3.3% |
| Ohio (OH) | 48 | $119.9M | 2.4% |
| Georgia (GA) | 72 | $117.5M | 3.7% |
| Michigan (MI) | 80 | $114.2M | 4.1% |
| Missouri (MO) | 24 | $100.0M | 1.2% |
| New Mexico (NM) | 16 | $76.0M | 0.8% |
| Tennessee (TN) | 32 | $69.4M | 1.6% |
| California (CA) | 16 | $60.3M | 0.8% |
| Minnesota (MN) | 40 | $42.6M | 2.0% |
| Florida (FL) | 8 | $40.0M | 0.4% |
| Nebraska (NE) | 8 | $40.0M | 0.4% |
| Mississippi (MS) | 8 | $40.0M | 0.4% |
| Arkansas (AR) | 8 | $40.0M | 0.4% |
| Iowa (IA) | 24 | $27.7M | 1.2% |
| New York (NY) | 16 | $25.8M | 0.8% |
| West Virginia (WV) | 8 | $24.0M | 0.4% |
| Virginia (VA) | 16 | $22.6M | 0.8% |
| Idaho (ID) | 8 | $17.8M | 0.4% |
| New Jersey (NJ) | 8 | $17.1M | 0.4% |
| Washington (WA) | 16 | $12.9M | 0.8% |
| South Carolina (SC) | 8 | $8.2M | 0.4% |
Why Choose Millennium Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 1,960 SBA loans approved, totaling $4.25B in financing
- ✓Industry Expertise: Specialized focus on Hotels (except Casino Hotels) and Motels, Gasoline Stations with Convenience Stores, Other
- ✓Competitive Terms: Average interest rate of 7.29% with flexible term lengths averaging 277 months
- ✓Loan Range: Loan sizes from $52K to $5.0M, with an average of $2.2M
- ✓Nationwide Reach: Active lending in 24 states, with strong presence in IL, IN, WI
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 Millennium Bank SBA lending
What types of businesses does Millennium Bank typically finance?
Millennium Bank specializes in SBA 7(a) lending to specific industries including hotels (except casino hotels) and motels, gasoline stations with convenience stores, other, full-service restaurants. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Millennium Bank's typical SBA loan terms?
Millennium Bank's SBA 7(a) loans typically feature an average interest rate of 7.29% and average term length of 277 months (approximately 23 years). Loan sizes range from $52K to $5.0M, with an average loan size of $2.2M.
Do I need a business valuation for a Millennium Bank SBA loan?
Yes, Millennium 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 Millennium Bank compare to other SBA lenders?
Millennium Bank has originated 1,960 SBA loans totaling $4.25B 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 Millennium Bank lend in?
Millennium Bank provides SBA 7(a) financing with particularly strong presence in IL, IN, WI, MI, GA. 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.
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Professional valuations are often required for SBA loans over $250,000.
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