In a small bowl, add the dried cranberries to the milk and set aside. In a mixing bowl, beat together the butter and sugar until light and fluffy, around 2 minutes. Beat in the eggs and vanilla until fully incorporated, then add the milk and cranberries and mix thoroughly.
Whisk the dry ingredients together in a medium bowl, then add to the wet ingredients and beat a few times until incorporated.
Pour into three mini loaf pans sprayed with cooking spray and bake for 30-35 minutes or until a toothpick inserted into the center comes out clean.
Alternatively, use one large loaf pan, sprayed with cooking spray, and bake for 55-60 minutes.