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BreadRoute Review
Midland States Bank
3.5Our Midland States Bank Review
Midland States Bank is a commercial bank headquartered in Effingham, Illinois, serving small and mid-sized businesses across Illinois, Missouri, Indiana, Wisconsin, and Iowa. Its business lending lineup is broad: term loans, lines of credit, working capital, equipment finance, inventory financing, accounts receivable, and commercial real estate — including construction. For businesses that qualify for government-backed programs, Midland offers SBA 7(a), SBA 504, SBA Express, and USDA Business and Industry loans, which can unlock better terms for eligible borrowers. Financing ranges from $10,000 to over $10 million. Minimum requirements are a 650 credit score, $10,000 in monthly revenue, and at least two years in business. A good fit if you want a regional bank with a wide product menu and prefer working with a local institution.
Who Is Midland States Bank Best For?
Based on eligibility requirements and available products.
- Businesses with good (but not perfect) credit
- Businesses that need equipment or machinery financing
- B2B businesses with outstanding invoices to unlock
- Established businesses that qualify for SBA programs
Financing Options
Eligibility Requirements
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Quick Overview
3.5Compare Alternatives
Other Commercial Bank lenders
Midland States Bank Pros & Cons
Pros
- High loan amounts available
- Wide range of financing products
Cons
- Requires $10,000+ in monthly revenue
- Requires 2 Years in business
- Limited to Illinois, Missouri, Indiana, Wisconsin, and Iowa
Frequently Asked Questions
Midland States Bank offers financing in the range of $10,000 to $10+ Million.
Midland States Bank typically requires a minimum credit score of 650. Businesses with scores above this threshold are more likely to qualify for favorable terms.
Midland States Bank offers the following financing products: Equipment Finance, USDA Business and Industry, Accounts Receivable, Construction Finance, Working Capital, SBA 7(a), Commercial Real Estate Financing, Inventory Financing, SBA 504, SBA Express, Line of Credit, Term Loan.
Midland States Bank requires a minimum of 2 Years in business. Newer businesses may want to explore alternative lenders with lower seasoning requirements.
Midland States Bank currently serves businesses in Illinois, Missouri, Indiana, Wisconsin, and Iowa.
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