Preheat oven to 350ºF. Grease an 8 1/2 x 4 1/2 x 2 1/2 -inch loaf pan. Mix sugar and butter together in a medium mixing bowl until completely blended. Add banana, milk and eggs, mixing well. Add dry ingredients, mixing just until moist. Stir in nuts and dried cranberries. Spread batter evenly in a loaf pan. Bake for 1 hour or until a toothpick inserted into the center of the bread comes out clean. Remove from pan and cool. Makes 1 loaf.