States Served
Top Industries Financed
- Full-Service Restaurants
- Offices of Real Estate Agents and Brokers
- Clothing Accessories Stores
- Limited-Service Restaurants
- Other Construction Material Merchant Wholesalers
Quick Summary
Bank Midwest is an SBA-approved lender headquartered in Spirit Lake, Iowa. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 25 SBA 7(a) loans totaling $11.6M, with an average loan size of $464K. They serve businesses across 3 states.
About Bank Midwest
Bank Midwest is an SBA-approved lender headquartered in Spirit Lake, Iowa. Since 2020, they have approved 25 SBA 7(a) loans totaling $11.6M, with an average loan size of $464K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 3 states.
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Frequently Asked Questions
Is Bank Midwest an SBA Preferred Lender?
Yes, Bank Midwest is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Bank Midwest approved?
According to SBA FOIA public records, Bank Midwest has approved 25 SBA 7(a) loans totaling $11.6M since 2020. Their average loan size is $464K.
What states does Bank Midwest serve?
Bank Midwest serves businesses in 3 states: Iowa, Minnesota, South Dakota.
How do I apply for an SBA loan with Bank Midwest?
To apply for an SBA 7(a) loan with Bank Midwest, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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