Lenders › Midland States Bank
7(a) lenderEffingham, IllinoisFDIC-insured bank263rd of 2,184 by approvals
Midland States Bank
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
In FY2021 to FY2025 SBA approved 132 7(a) loans, worth $63.8M, through Midland States Bank of Effingham, Illinois, an FDIC-insured bank in the SBA 7(a) program. By number of approvals that is 263rd among 2,184 active 7(a) lenders.
In FY2025, the latest complete fiscal year, it had 26 approvals totalling $8.3M, about level with FY2024 (27). FY2026 to 30 Jun 2026 adds 18 more.
The median approval was $243K, against $190K for the 7(a) program as a whole; 37.1% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 7 states and territories and 41 counties, led by Illinois (64.4%), Missouri (25.0%) and Indiana (4.5%). The largest industry group was accommodation and food services at 21.2% of approvals, and 15.9% of approvals were to franchise businesses.
Of 253 disbursed loans approved in FY2010 to FY2021, SBA records 19 as charged off (7.5%), 181 as paid in full and 53 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is close to it.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 18 | $13.8M | $500K | $764K | 280 |
| FY2025 | 26 | $8.3M | $224K | $318K | 312 |
| FY2024 | 27 | $15.4M | $150K | $572K | 355 |
| FY2023 | 34 | $12.9M | $215K | $378K | 352 |
| FY2022 | 25 | $20.9M | $375K | $836K | 380 |
| FY2021 | 20 | $6.4M | $167K | $318K | 190 |
| FY2020 | 5 | $4.0M | $637K | $797K | 94 |
| FY2019 | 55 | $66.3M | $721K | $1.2M | 1,434 |
| FY2018 | 32 | $36.8M | $556K | $1.2M | 447 |
| FY2017 | 13 | $1.4M | $113K | $109K | 123 |
| FY2016 | 17 | $4.7M | $100K | $279K | 121 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 122 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Illinois | 7(a) program |
|---|---|---|---|
| Approvals in these years | 288 | 21,190 | 639,905 |
| Cancelled or never disbursed | 35 | 2,878 | 79,313 |
| Disbursed loans | 253 | 18,312 | 560,592 |
| Paid in full | 181 | 13,909 | 435,813 |
| Charged off | 19 | 1,459 | 36,891 |
| Still outstanding (status exempt from disclosure) | 53 | 2,944 | 87,888 |
| Charged off, share of disbursed loans | 7.5% | 8.0% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.1% | 4.1% | 2.5% |
| Dollars charged off | $3.1M | $327M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 19 | 6 | 0 | — | 2.8% |
| FY2020 | 3 | 2 | 0 | — | 4.0% |
| FY2019 | 47 | 21 | 3 | 6.4% | 6.7% |
| FY2018 | 31 | 22 | 2 | 6.5% | 7.9% |
| FY2017 | 12 | 9 | 1 | — | 7.7% |
| FY2016 | 13 | 13 | 0 | — | 7.2% |
| FY2015 | 14 | 13 | 0 | — | 6.9% |
| FY2014 | 42 | 39 | 1 | 2.4% | 6.4% |
| FY2013 | 32 | 25 | 4 | 12.5% | 6.0% |
| FY2012 | 14 | 11 | 3 | — | 6.3% |
| FY2011 | 16 | 12 | 4 | — | 6.9% |
| FY2010 | 10 | 8 | 1 | — | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $243K | $190K |
| Average approval | $484K | $518K |
| Approvals of $150,000 or less | 37.1% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 41.7% | 34.3% |
| Approvals to franchise businesses | 15.9% | 11.5% |
| Jobs supported per approval, as reported | 12.0 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 7.5% | 6.6% |
States served
| # | State of the business (7 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Illinois | 85 | $41.3M | 64.4% | |
| 2 | Missouri | 33 | $10.6M | 25.0% | |
| 3 | Indiana | 6 | $3.7M | 4.5% | |
| 4 | Wisconsin | 4 | $5.5M | 3.0% | |
| 5 | Florida | 2 | — | 1.5% | |
| 6 | Michigan | 1 | — | 0.8% | |
| 7 | Ohio | 1 | — | 0.8% |
In Illinois the lender accounts for 0.8% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (41 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Winnebago County, IL | 12 | $11.3M | 9.1% | |
| 2 | St. Louis County, MO | 12 | $4.8M | 9.1% | |
| 3 | St. Charles County, MO | 10 | $3.3M | 7.6% | |
| 4 | Kane County, IL | 10 | $2.8M | 7.6% | |
| 5 | Cook County, IL | 9 | $4.5M | 6.8% | |
| 6 | LaSalle County, IL | 7 | $2.1M | 5.3% | |
| 7 | Will County, IL | 6 | $2.5M | 4.5% | |
| 8 | DuPage County, IL | 6 | $1.8M | 4.5% | |
| 9 | Lake County, IN | 4 | $3.5M | 3.0% | |
| 10 | Boone County, IL | 4 | $3.1M | 3.0% | |
| 11 | Champaign County, IL | 4 | $2.2M | 3.0% | |
| 12 | McHenry County, IL | 4 | $1.8M | 3.0% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 28 | 21.2% | |
| 2 | Manufacturing | 22 | 16.7% | |
| 3 | Retail Trade | 18 | 13.6% | |
| 4 | Construction | 12 | 9.1% | |
| 5 | Other Services (except Public Administration) | 12 | 9.1% | |
| 6 | Administrative and Support and Waste Management and Remediation Services | 9 | 6.8% | |
| 7 | Professional, Scientific, and Technical Services | 8 | 6.1% | |
| 8 | Arts, Entertainment, and Recreation | 6 | 4.5% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 21 | 15.9% | |
| 2 | Other Amusement and Recreation IndustriesNAICS 7139 | 5 | 3.8% | |
| 3 | Services to Buildings and DwellingsNAICS 5617 | 5 | 3.8% | |
| 4 | Automotive Repair and MaintenanceNAICS 8111 | 4 | 3.0% | |
| 5 | Personal Care ServicesNAICS 8121 | 4 | 3.0% | |
| 6 | Beer, Wine, and Liquor StoresNAICS 4453 | 4 | 3.0% | |
| 7 | Specialty Food StoresNAICS 4452 | 4 | 3.0% | |
| 8 | Residential Building ConstructionNAICS 2361 | 4 | 3.0% | |
| 9 | Machine Shops; Turned Product; and Screw, Nut, and Bolt ManufacturingNAICS 3327 | 3 | 2.3% | |
| 10 | Traveler AccommodationNAICS 7211 | 3 | 2.3% |
Approval sizes
- $50,000 or less9.8%13
- $50,001 to $150,00027.3%36
- $150,001 to $350,00026.5%35
- $350,001 to $1 million25.8%34
- $1 million to $2 million5.3%7
- Over $2 million5.3%7
Loan terms
- 5 years or less4.5%6
- Over 5 to 10 years64.4%85
- Over 10 to 20 years19.7%26
- Over 20 years11.4%15
Age of the businesses
- Existing, more than 2 years old33.3%44
- New business, 2 years or less9.1%12
- Startup, loan funds will open the business32.6%43
- Change of ownership25.0%33
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 74 | 56.1% | |
| 2 | SBA Express Program | 49 | 37.1% | |
| 3 | 7a General | 9 | 6.8% |
Franchise share
21 of 132 approvals in FY2021–FY2025 (15.9%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Jersey Mike’s Subs | 4 | 3.0% | |
| 2 | Buffalo Wild Wings Sports Bar | 3 | 2.3% | |
| 3 | Nautical Bowls | 3 | 2.3% | |
| 4 | Smoothie King | 2 | 1.5% | |
| 5 | Playtri | 2 | 1.5% | |
| 6 | General Motors, LLC | 1 | 0.8% | |
| 7 | World Fuel Services Inc. | 1 | 0.8% | |
| 8 | Residence Inn by Marriott | 1 | 0.8% |
Questions and answers
How many SBA loans does Midland States Bank make?
SBA approved 26 7(a) loans through Midland States Bank in FY2025, worth $8.3M, and 132 over FY2021 to FY2025. That ranks 263rd of 2,184 active 7(a) lenders by number of approvals.
How large are Midland States Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $243K and the average $484K. The program-wide median was $190K.
What is Midland States Bank's charge-off rate?
Of 253 disbursed loans approved in FY2010 to FY2021, SBA records 19 as charged off (7.5%), 181 as paid in full and 53 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is close to it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Midland States Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (21); other amusement and recreation industries (5); services to buildings and dwellings (5); automotive repair and maintenance (4).
Where does Midland States Bank make SBA loans?
In 7 states and territories. Illinois 85, Missouri 33, Indiana 6, Wisconsin 4, Florida 2. In Illinois it accounts for 0.8% of all 7(a) approvals.
Is Midland States Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 87, against 50 in the three before: rising (+74%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error