Millennium Bank (IL) in SBA data

Millennium Bank (IL) shows $633.0 million in gross dollars approved across 306 loans, FY2017 to FY2026 in SBA's data. All are SBA 7(a), none SBA 504, and SBA shows IL. Those are SBA's records of loans the holder holds or held last, with the guarantee SBA's. A reassigned 7(a) loan appears under the later holder. The page describes holdings and not the bank's standards.

Hotels first, and few unclassified loans

Here the named classes carry the book. Hotels and motels hold 178 loans, gas stations and truck stops 38, liquor stores 16, the full-service restaurant 11 and car washes 9, while only 36 loans sit outside the named classes. Illinois has 176 loans, Indiana 48, Wisconsin 15 and Michigan 14.

What happened after approval

Millennium Bank (IL): 6.1% of FY2017 through FY2024 approvals cancelled at least; the ceiling, 6.1%, counts undisbursed loans and does not move. Disbursed FY2017 to FY2021: 143 loans. Charge-off floor so far: 0.00%. Within five years of approval: 0.00%. Open loans can still fail, so these are minimums.

The hotel study

Hotels and motels dominate this file at 178 loans, so a hotel study is the natural comparison. It needs to test rate and occupancy against the cost of each room, the franchise terms and the renovation reserve, and should show how revenue behaves in a slower year. The appraised value has to support the cost. A gas station or truck stop study, 38 loans, should test fuel gallons, in-store sales, site traffic and environmental exposure on the parcel. A liquor store study tests licence status, basket size and inventory turns. Because few loans are unclassified, more property types are named, but the table remains tilted toward lodging. A project outside Illinois and its neighbours should say why this record applies.

Why this book looks different

This record is unusual for how much of it the class table covers: only 36 of 306 loans are unclassified, so the 178 hotel and motel loans and the 38 gas station loans are real signals. That is also why the page can speak plainly about lodging, and why a borrower in another class should read it with care. The 0.00% charge-off figures rest on 143 loans still open, and the 6.1% cancellation floor is the other available measure.

SBA loans held by Millennium Bank (IL)

SBA guarantees these loans; the lender does not. The lender's name and every figure come from the U.S. Small Business Administration's public 7(a) and 504 FOIA file (data.sba.gov).

7(a) lender is the bank or lender the loan is currently assigned to (or last held it), as SBA records it; 504 lender is the Certified Development Company (CDC). 504 third-party (first-lien) lenders are free text with no identifier and are not credited.

Loans approved, FY2017 to FY2026	306
Gross dollars approved	$633.0 million
SBA 7(a) loans	306
SBA 504 loans	0

Cancellation and charge-off

Cancelled after approval, FY2017 to FY2024 approvals (a floor)	6.1%
The same, counting loans still undisbursed as cancelled (a ceiling)	6.1%
Charged off to date, FY2017 to FY2021 disbursed loans (a floor)	0.00%
Charged off within five years of approval	0.00%
Loans in that cohort	143

Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.

Loans by asset class

Asset class	Loans
Hotel and motel	178
Gas station and truck stop	38
Not in any of the 39 asset classes	36
Liquor store	16
Full-service restaurant	11
Car wash	9
Beauty salon	5

Classes with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.

Loans by project state

State or area	Loans
Illinois	176
Indiana	48
Wisconsin	15
Michigan	14
Texas	8
Ohio	7
Minnesota	5

States with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.

A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.

Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; Loan Analytics lender cell LP-fdic-58348.

Related feasibility study pages

Loan Analytics prepares the feasibility study a lender reads before it commits: for a commercial project anywhere in the United States, financed under SBA 7(a), SBA 504, USDA Business and Industry or a conventional bank loan, by Millennium Bank (IL) or any other lender. Tell us the project and the lender's deadline, and we reply with scope, timeline and fee.

Daniel Smith, MAI

Millennium Bank (IL): SBA Lending Record