Millennial Bank

This is a financial institution that provides small business loans, including SBA programs, to support entrepreneurs and business owners in obtaining necessary capital for growth and operations.

It's recommended to schedule an appointment to ensure dedicated assistance, but walk-ins may be accommodated depending on staff availability.

Millennial Bank's lobby is open Monday through Friday from 8:30 AM to 4:30 PM, and the drive-through is open Monday through Friday from 8 AM to 5 PM. ATM access is available 24/7. Please confirm specific hours with the branch at (205) 702-2265.

There are no fees for simply visiting or consulting; fees apply only when initiating loans or financial services as per standard banking practices.

This bank primarily serves small business owners and entrepreneurs within the region, but eligibility depends on meeting specific lending criteria.

A minimum personal credit score of around 640 is generally required, though higher scores improve approval chances.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of documentation.

Millennial Bank is closed on Saturdays, and weekend availability for SBA lending staff follows standard weekday hours only (Monday–Friday). Contact the bank directly to confirm availability.

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

The core details for Millennial 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 Millennial Bank before applying. If you represent Millennial Bank, claim this listing to keep its information up to date.

You can reach Millennial Bank by phone at (205) 702-2265 or online at millennial.bank — the details are in the contact card on this page. For SBA loans specifically, ask for their business lending or SBA department. Treat this directory page as a starting point and confirm hours and contact details with Millennial Bank before relying on them.

Based on its approved SBA loans, Millennial Bank most often finances businesses in restaurants & food service, hotels & lodging, and wholesale & distribution. This reflects Millennial 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 Millennial 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 Millennial Bank participates in SBA Express depends on its specific SBA lending authority. Contact Millennial Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Millennial Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

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. Millennial Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Millennial 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 Millennial 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 Millennial 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 Millennial 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. Millennial Bank weighs this case by case under its own policy, so be upfront about your history and ask Millennial Bank how it evaluates prior bankruptcies.