Midland States Bank: SBA loans in this registry

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

• Illinois: 10 loans
• Missouri: 2 loans

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.

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