States Served
Top Industries Financed
- Full-Service Restaurants
- Limited-Service Restaurants
- Beauty Salons
- Fitness and Recreational Sports Centers
- Offices of Chiropractors
Quick Summary
Northwest Bank is an SBA-approved lender headquartered in SPENCER, Iowa. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 106 SBA 7(a) loans totaling $41.2M, with an average loan size of $389K. They serve businesses across 4 states.
About Northwest Bank
Northwest Bank is an SBA-approved lender headquartered in SPENCER, Iowa. Since 2020, they have approved 106 SBA 7(a) loans totaling $41.2M, with an average loan size of $389K. 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 4 states.
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Frequently Asked Questions
Is Northwest Bank an SBA Preferred Lender?
Yes, Northwest Bank 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 Northwest Bank approved?
According to SBA FOIA public records, Northwest Bank has approved 106 SBA 7(a) loans totaling $41.2M since 2020. Their average loan size is $389K.
What states does Northwest Bank serve?
Northwest Bank serves businesses in 4 states: Iowa, Missouri, Nebraska, South Dakota.
How do I apply for an SBA loan with Northwest Bank?
To apply for an SBA 7(a) loan with Northwest 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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