Millennium Bank: SBA business acquisition lending record
Millennium Bank (home state IL) approved 30 SBA 7(a) loans to buy existing businesses since FY2018, totaling $68.7M. The median loan was $1,967,500. It ranks number 252 of 280 lenders by count and made 0.1% of all SBA acquisition loans nationally.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $948,250 and $3,748,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Illinois is the largest state (60% of loans). Loans appear in only 9 states, which points to a regional lender.
- Industry concentration. Hotels (except Casino Hotels) and Motels is 70% of its acquisition loans. This is a specialist pattern.
- Overall 7(a) volume. 230 SBA 7(a) loans of any purpose since FY2020, totaling $504M. 0% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 67% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Too few of its loans are old enough to measure a charge-off rate.
Millennium Bank acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 4 | $7.2M | $1,849,000 | |
| FY2019 | 5 | $7.4M | $1,213,000 | |
| FY2020 | 6 | $17.5M | $3,075,000 | |
| FY2021 | 2 | $5.4M | $2,712,500 | |
| FY2022 | 4 | $8.3M | $1,913,750 | |
| FY2023 | 1 | $4.7M | $4,675,000 | |
| FY2024 | 6 | $12.4M | $1,785,000 | |
| FY2025 | 2 | $5.8M | $2,916,000 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Millennium Bank acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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States served
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Hotels (except Casino Hotels) and Motels | 21 | 70.0% | $56.3M | |
| 2 | Gasoline Stations with Convenience Stores | 4 | 13.3% | $4.2M | |
| 3 | Bed-and-Breakfast Inns | 1 | 3.3% | $4.3M | |
| 4 | Child Care Services | 1 | 3.3% | $1.8M | |
| 5 | Beer, Wine, and Liquor Retailers | 1 | 3.3% | $1.4M | |
| 6 | Lessors of Nonresidential Buildings (except Miniwarehouses) | 1 | 3.3% | $425K | |
| 7 | Convenience Retailers | 1 | 3.3% | $317K |
Seller note standby terms and third-party consents are reviewed before closing.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Red Roof Inn | 3 | 10.0% | $8.8M | |
| 2 | Best Western | 2 | 6.7% | $7.2M | |
| 3 | Days Inn | 2 | 6.7% | $3.8M | |
| 4 | Econo Lodge | 2 | 6.7% | $3M | |
| 5 | La Quinta | 1 | 3.3% | $4.9M | |
| 6 | Country Inn and Suites by Radisson | 1 | 3.3% | $4.2M | |
| 7 | Comfort Inn | 1 | 3.3% | $4M | |
| 8 | Quality Inn | 1 | 3.3% | $2.5M | |
| 9 | AM/PM Mini-Mart | 1 | 3.3% | $2.4M | |
| 10 | Motel 6 | 1 | 3.3% | $1.9M |
Questions buyers ask
Does Millennium Bank make SBA acquisition loans?
Yes. Millennium Bank approved 30 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 252 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are Millennium Bank's acquisition loans?
The median was $1,967,500, with the middle half between $948,250 and $3,748,500. The national median is $645,250, so this lender's typical loan is 205% higher than the national figure.
Which states does Millennium Bank lend in?
Illinois (18), Indiana (3), Michigan (2), Georgia (2), Florida (1), Wisconsin (1). Its loans appear in 9 states, so it is closer to a regional lender.
Which industries does Millennium Bank finance?
Hotels (except Casino Hotels) and Motels (21), Gasoline Stations with Convenience Stores (4), Bed-and-Breakfast Inns (1), Child Care Services (1), Beer, Wine, and Liquor Retailers (1). The top industry is 70% of its acquisition loans.
How have Millennium Bank's acquisition loans performed?
Fewer than 20 of this lender's loans are old enough to measure. The national benchmark is 3.5% for the FY2018 to FY2021 cohort.
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Related
- Illinois acquisitions
- Indiana acquisitions
- Michigan acquisitions
- Hotels (except Casino Hotels) and Motels
- Gasoline Stations with Convenience Stores
- Bed-and-Breakfast Inns
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by Millennium Bank.