Midland States Bank: SBA loans in this registry
11companies
12loans
$39.2Mtotal approved
$3.3Maverage loan
About this lender
- Type
- Bank
- Headquarters
- Effingham, IL
- FDIC certificate number
- 1040
- Total assets
- $6.7 billion (as of June 30, 2026)
- Established
- 1881
- Offices
- 60
- Website
- www.midlandsb.com
- Acquisition loans (7(a))
- 3 loans, $9.0M total, $3.0M average
- Expansion loans (504, SBA portion)
- 9 loans, $30.2M total, $3.4M average
- Approval dates
- Feb 15, 2024 to Aug 19, 2026
- Typical term (median)
- acquisition loans: 10 years; expansion loans: 25 years
- Initial interest rate (7(a))
- 10% to 10%, median 10.00%
- Rate type (7(a))
- 100% variable, 0% fixed
Top industries
- Hotels (except Casino Hotels) and Motels: 4 loans
- Precision Turned Product Manufacturing: 2 loans
- Limited-Service Restaurants: 1 loan
- Sheet Metal Work Manufacturing: 1 loan
- Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing: 1 loan
Top states
Largest deals
- Shambhu Hotel LLC, Des Plaines, IL: $5,500,000 (504 SBA portion, Aug 16, 2024)
- HRS Hospitality Group LLC, Aurora, IL: $5,168,000 (504 SBA portion, Jun 26, 2025)
- Hall Street Properties I, L.L.C., Granite City, IL: $5,000,000 (504 SBA portion, Feb 27, 2026)
- Crown Machine, Inc., Rockford, IL: $4,460,000 (7(a) acquisition, Jun 15, 2024)
- Ever Ready Grinding & Pin Manufacturing LLC, Rockford, IL: $4,040,000 (7(a) acquisition, Feb 17, 2024)
Lender details come from the SBA loan files and the FDIC BankFind service. Counts cover loans on this site only.
Companies
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