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Midwest Bank

DETROIT LAKES, MN 56501

14
Loans Approved
$1.3M
Total Volume
$93K
Avg Loan Size
1
States Served

States Served

Minnesota

Top Industries Financed

  • Full-Service Restaurants
  • Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Sta
  • Limited-Service Restaurants
  • Fuel Dealers
  • Offices of Other Holding Companies

Quick Summary

Midwest Bank is an SBA-approved lender headquartered in DETROIT LAKES, Minnesota. Since 2020, they have approved 14 SBA 7(a) loans totaling $1.3M, with an average loan size of $93K. They primarily serve Minnesota businesses.

About Midwest Bank

Midwest Bank is an SBA-approved lender headquartered in DETROIT LAKES, Minnesota. Since 2020, they have approved 14 SBA 7(a) loans totaling $1.3M, with an average loan size of $93K. They primarily serve businesses in Minnesota.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Midwest Bank an SBA Preferred Lender?

Midwest Bank is an SBA-approved lender but does not currently hold Preferred Lender (PLP) status. Loan approvals require standard SBA review, which typically adds 2–4 weeks to the process.

How many SBA loans has Midwest Bank approved?

According to SBA FOIA public records, Midwest Bank has approved 14 SBA 7(a) loans totaling $1.3M since 2020. Their average loan size is $93K.

What states does Midwest Bank serve?

Midwest Bank primarily serves businesses in Minnesota.

How do I apply for an SBA loan with Midwest Bank?

To apply for an SBA 7(a) loan with Midwest Bank, 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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