Millennium Bank, National Association
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Millennium Bank, National Association · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541511 | Custom Computer Programming Services | 7 | $4.2M | $595K | 8.9% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 3 | $1.8M | $583K | 3.8% |
| 311920 | Coffee and Tea Manufacturing | 3 | $455K | $152K | 3.8% |
| 621310 | Offices of Chiropractors | 2 | $338K | $169K | 2.5% |
| 811192 | Car Washes | 2 | $1.4M | $682K | 2.5% |
| 541512 | Computer Systems Design Services | 2 | $522K | $261K | 2.5% |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 2 | $1.7M | $830K | 2.5% |
| 524210 | Insurance Agencies and Brokerages | 2 | $730K | $365K | 2.5% |
| 339950 | Sign Manufacturing | 2 | $600K | $300K | 2.5% |
| 811111 | General Automotive Repair | 2 | $574K | $287K | 2.5% |
Geographic Distribution
SBA lending activity for Millennium Bank, National Association by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Virginia (VA) | 65 | $27.8M | 82.3% |
| District of Columbia (DC) | 8 | $3.7M | 10.1% |
| Maryland (MD) | 5 | $3.1M | 6.3% |
| Texas (TX) | 1 | $30K | 1.3% |
Why Choose Millennium Bank, National Association?
Based on SBA 7(a) lending track record from 2000-2009
- ✓Proven Track Record: 79 SBA loans approved, totaling $34.7M in financing
- ✓Industry Expertise: Specialized focus on Custom Computer Programming Services, Electrical Contractors and Other Wiring Installation Contractors, Coffee and Tea Manufacturing
- ✓Competitive Terms: Average interest rate of 4.50% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $26K to $2.0M, with an average of $439K
- ✓Nationwide Reach: Active lending in 4 states, with strong presence in VA, DC, MD
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, National Association SBA lending
What types of businesses does Millennium Bank, National Association typically finance?
Millennium Bank, National Association specializes in SBA 7(a) lending to specific industries including custom computer programming services, electrical contractors and other wiring installation contractors, coffee and tea manufacturing, offices of chiropractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Millennium Bank, National Association's typical SBA loan terms?
Millennium Bank, National Association's SBA 7(a) loans typically feature an average interest rate of 4.50% and average term length of 132 months (approximately 11 years). Loan sizes range from $26K to $2.0M, with an average loan size of $439K.
Do I need a business valuation for a Millennium Bank, National Association SBA loan?
Yes, Millennium Bank, National Association 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, National Association compare to other SBA lenders?
Millennium Bank, National Association has originated 79 SBA loans totaling $34.7M since 2000. 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, National Association lend in?
Millennium Bank, National Association provides SBA 7(a) financing with particularly strong presence in VA, DC, MD, TX. 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.
Get your certified valuation from Fair Market Value.