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Wadena State Bank

WADENA, MN 56482

50
Loans Approved
$16.8M
Total Volume
$337K
Avg Loan Size
1
States Served

States Served

Minnesota

Top Industries Financed

  • Beef Cattle Ranching and Farming
  • Pottery, Ceramics, and Plumbing Fixture Manufacturing
  • Insurance Agencies and Brokerages
  • Full-Service Restaurants
  • All Other Specialty Trade Contractors

Quick Summary

Wadena State Bank is an SBA-approved lender headquartered in WADENA, Minnesota. Since 2020, they have approved 50 SBA 7(a) loans totaling $16.8M, with an average loan size of $337K. They primarily serve Minnesota businesses.

About Wadena State Bank

Wadena State Bank is an SBA-approved lender headquartered in WADENA, Minnesota. Since 2020, they have approved 50 SBA 7(a) loans totaling $16.8M, with an average loan size of $337K. 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 Wadena State Bank an SBA Preferred Lender?

Wadena State 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 Wadena State Bank approved?

According to SBA FOIA public records, Wadena State Bank has approved 50 SBA 7(a) loans totaling $16.8M since 2020. Their average loan size is $337K.

What states does Wadena State Bank serve?

Wadena State Bank primarily serves businesses in Minnesota.

How do I apply for an SBA loan with Wadena State Bank?

To apply for an SBA 7(a) loan with Wadena State 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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