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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.
Provider names, logos, and trademarks displayed on this page belong to their respective owners and are used for identification purposes only. VerSquare is not affiliated with, endorsed by, or sponsored by New Millennium Bank unless otherwise indicated.
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SBA 7(a) Acquisition Loan Data As Of March 31, 2026
Last 12 Months
Last 3 Years
YoY Growth
low activity
As Of March 31, 2026
Median
$450K
Average
$957K
Sweet Spot
$0-$500K
Industries with highest loan volume
Nail Salons
5
loans
$506K
avg. amount
Nail Salons
5
loans
$506K
avg
Drycleaning and Laundry Services (except Coin-Operated)
3
loans
$278K
avg. amount
Drycleaning and Laundry Services (except Coin-Operated)
3
loans
$278K
avg
Coin-Operated Laundries and Drycleaners
2
loans
$2.7M
avg. amount
Coin-Operated Laundries and Drycleaners
2
loans
$2.7M
avg
Cosmetics, Beauty Supplies, and Perfume Retailers
1
loans
$120K
avg. amount
Cosmetics, Beauty Supplies, and Perfume Retailers
1
loans
$120K
avg
Sports and Recreation Instruction
1
loans
$464K
avg. amount
Sports and Recreation Instruction
1
loans
$464K
avg
Automotive Body, Paint, and Interior Repair and Maintenance
1
loans
$720K
avg. amount
Automotive Body, Paint, and Interior Repair and Maintenance
1
loans
$720K
avg
Hotels (except Casino Hotels) and Motels
1
loans
$4.1M
avg. amount
Hotels (except Casino Hotels) and Motels
1
loans
$4.1M
avg
Paint and Wallpaper Retailers
1
loans
$200K
avg. amount
Paint and Wallpaper Retailers
1
loans
$200K
avg
10-Year Default Rate
1.0%
Percentile Ranking
86th
86th percentile
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 1.45% |
| $500K-$1M | Prime + 1.25% |
| $1M-$2M | Prime + 1.25% |
| $2M-$3M | Prime + 0.75% |
| $4M-$5M | Prime + 0.75% |
As Of March 31, 2026 - States by loan volume (darker blue = higher volume)
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