Millennium Bank

This is a financial institution offering SBA loan programs designed to help small and medium-sized businesses access capital for growth, acquisitions, or working capital needs. You can find personalized lending solutions, expert guidance through the application process, and support for various business financing needs. The bank specializes in SBA 7(a) loans and provides tailored services to meet your specific business goals.

Ask Millennium Bank directly — some branches take walk-ins, others book SBA conversations by appointment.

Hours vary by branch and change. Check Millennium Bank's website or call before you visit.

Browsing this directory is free. Any loan fees are set by Millennium Bank and the SBA program — ask the lender for its current schedule.

This institution primarily serves small and medium-sized businesses across the country, regardless of residency, as long as they meet the lending criteria. Business owners should have a valid operating history and meet credit requirements.

Many SBA lenders look for a personal score around 640 or higher, but each bank sets its own bar and it changes. Ask Millennium Bank what it looks for today.

The underwriting process generally takes between 30 to 60 days, depending on the completeness of your application and the complexity of your financial situation. Working closely with your loan officer can help expedite the process.

Most bank SBA teams work weekdays; confirm with Millennium Bank before planning a weekend visit.

Millennium Bank is located in Illinois — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Millennium Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Millennium Bank itself, which runs its own lending under its own ownership. If you work at Millennium Bank, you can claim this listing from this page to manage it.

The core details for Millennium Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Millennium Bank before applying. If you represent Millennium Bank, claim this listing to keep its information up to date.

You can reach Millennium Bank by phone at (847) 296-9500 or online at www.mb.bank — the same details are in the contact card on this page.

Based on its approved SBA loans, Millennium Bank most often finances businesses in hotels & lodging, gas stations & convenience, general retail, automotive repair & services, restaurants & food service, and salons, spas & personal care. This reflects Millennium Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Millennium Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Millennium Bank participates in SBA Express depends on its specific SBA lending authority. Contact Millennium Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

Whether Millennium Bank has SBA Preferred Lender (PLP) status is set by the SBA. Ask the bank directly; PLP lenders can approve in-house and often move faster.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Millennium Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Millennium Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Millennium Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Millennium Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Millennium Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Millennium Bank weighs this case by case under its own policy, so be upfront about your history and ask Millennium Bank how it evaluates prior bankruptcies.