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New Millennium Bank is an FDIC-insured community-focused financial institution providing personal and business banking services including checking accounts, savings, CDs, mortgages, SBA loans, and commercial real estate financing. Founded in 1999 with its New Jersey State Banking Charter, the bank operates multiple locations across New Jersey, New York, and Georgia while serving low to moderate income individuals, families, and underserved communities.
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SBA 7(a) Acquisition Loan Data As Of December 31, 2025
Last 12 Months
Last 3 Years
YoY Growth
low activity
As Of December 31, 2025
Median
$450K
Average
$908K
Sweet Spot
$0-$500K
Industries with highest loan volume
Nail Salons
6
loans
$459K
avg. amount
Nail Salons
Loans
6
Avg. Amount
$459K
Drycleaning and Laundry Services (except Coin-Operated)
3
loans
$278K
avg. amount
Drycleaning and Laundry Services (except Coin-Operated)
Loans
3
Avg. Amount
$278K
Coin-Operated Laundries and Drycleaners
3
loans
$2.2M
avg. amount
Coin-Operated Laundries and Drycleaners
Loans
3
Avg. Amount
$2.2M
Hotels (except Casino Hotels) and Motels
1
loans
$4.1M
avg. amount
Hotels (except Casino Hotels) and Motels
Loans
1
Avg. Amount
$4.1M
Sports and Recreation Instruction
1
loans
$464K
avg. amount
Sports and Recreation Instruction
Loans
1
Avg. Amount
$464K
Cosmetics, Beauty Supplies, and Perfume Retailers
1
loans
$120K
avg. amount
Cosmetics, Beauty Supplies, and Perfume Retailers
Loans
1
Avg. Amount
$120K
Automotive Body, Paint, and Interior Repair and Maintenance
1
loans
$720K
avg. amount
Automotive Body, Paint, and Interior Repair and Maintenance
Loans
1
Avg. Amount
$720K
Paint and Wallpaper Retailers
1
loans
$200K
avg. amount
Paint and Wallpaper Retailers
Loans
1
Avg. Amount
$200K
Full-Service Restaurants
1
loans
$450K
avg. amount
Full-Service Restaurants
Loans
1
Avg. Amount
$450K
10-Year Default Rate
1.0%
Percentile Ranking
86th
86th percentile
This Lender
Market Average
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 1.38% |
| $500K-$1M | Prime + 1.25% |
| $1M-$2M | Prime + 0.88% |
| $2M-$3M | Prime + 0.75% |
| $4M-$5M | Prime + 0.75% |
As Of December 31, 2025 - States by loan volume (darker blue = higher volume)