Millennium Bank
Millennium Bank is a business and relationship bank headquartered in Des Plaines, Illinois, committed to providing traditional banking services to minority, underserved, and traditionally disadvantaged small business customers. The bank is one of the largest SBA lenders in the Midwest and offers comprehensive personal and business banking services, including checking, savings, lending, and digital banking solutions.
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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (8 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
Millennium Bank ranks #330 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of Millennium Bank’s 7(a) acquisition lending falls in the $4M-$5M range: 3 loans, 37.5% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 1 | 12.5% | |
| $500K-$1M | 1 | 12.5% | |
| $1M-$2M | 1 | 12.5% | |
| $2M-$3M | 2 | 25.0% | |
| $4M-$5M | 3 | 37.5% |
Industries with highest loan volume
Hotels (except Casino Hotels) and Motels
7
loans
$3.0M
avg. amount
Convenience Retailers
1
loans
$317K
avg. amount
10-Year
0.0%
Percentile Ranking
0th percentile
Millennium Bank’s median variable rate is + 1.75%, against a market median of Prime + 1.88%, 13 below market.
It priced below the market median in 2 of the last 3 quarters.
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 1.75% |
| $500K-$1M | Prime + 2.25% |
| $1M-$2M | Prime + 2.25% |
| $2M-$3M | Prime + 1.88% |
| $4M-$5M | Prime + 1.75% |
| Quarter | This lender | Market median | Market range | Loans |
|---|---|---|---|---|
| Q3 '18 | Prime + 1.00% | Prime + 2.00% | Prime + 1.25% – Prime + 2.50% | 4 |
| Q2 '19 | Prime + 1.75% | Prime + 2.00% | Prime + 1.50% – Prime + 2.50% | 3 |
| Q4 '24 | Prime + 2.25% | Prime + 2.25% | Prime + 1.50% – Prime + 2.75% | 3 |
Millennium Bank has originated 7(a) acquisition loans in 4 states, most actively in Illinois (5), Florida (1) and Indiana (1). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| Illinois | 5 | 62.5% |
| Florida | 1 | 12.5% |
| Indiana | 1 | 12.5% |
| Michigan | 1 | 12.5% |
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