Bank Midwest
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Bank Midwest
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 24 | $2.1M | $86K | 12.0% |
| 531210 | Offices of Real Estate Agents and Brokers | 16 | $2.4M | $150K | 8.0% |
| 722513 | Limited-Service Restaurants | 16 | $6.0M | $375K | 8.0% |
| 423390 | Other Construction Material Merchant Wholesalers | 16 | $25.8M | $1.6M | 8.0% |
| 448150 | Clothing Accessories Stores | 16 | $716K | $45K | 8.0% |
| 811411 | Home and Garden Equipment Repair and Maintenance | 8 | $910K | $114K | 4.0% |
| 811121 | Automotive Body, Paint, and Interior Repair and Maintenance | 8 | $3.7M | $461K | 4.0% |
| 115116 | Farm Management Services | 8 | $1.6M | $204K | 4.0% |
| 312111 | Soft Drink Manufacturing | 8 | $1.8M | $225K | 4.0% |
| 238910 | Site Preparation Contractors | 8 | $25.8M | $3.2M | 4.0% |
Geographic Distribution
SBA lending activity for Bank Midwest by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Minnesota (MN) | 88 | $68.4M | 44.0% |
| Iowa (IA) | 88 | $17.8M | 44.0% |
| South Dakota (SD) | 24 | $6.7M | 12.0% |
Why Choose Bank Midwest?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 200 SBA loans approved, totaling $92.9M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Offices of Real Estate Agents and Brokers, Limited-Service Restaurants
- ✓Competitive Terms: Average interest rate of 6.07% with flexible term lengths averaging 107 months
- ✓Loan Range: Loan sizes from $20K to $3.2M, with an average of $464K
- ✓Nationwide Reach: Active lending in 3 states, with strong presence in MN, IA, SD
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Bank Midwest SBA lending
What types of businesses does Bank Midwest typically finance?
Bank Midwest specializes in SBA 7(a) lending to specific industries including full-service restaurants, offices of real estate agents and brokers, limited-service restaurants, other construction material merchant wholesalers. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Bank Midwest's typical SBA loan terms?
Bank Midwest's SBA 7(a) loans typically feature an average interest rate of 6.07% and average term length of 107 months (approximately 9 years). Loan sizes range from $20K to $3.2M, with an average loan size of $464K.
Do I need a business valuation for a Bank Midwest SBA loan?
Yes, Bank Midwest typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Bank Midwest compare to other SBA lenders?
Bank Midwest has originated 200 SBA loans totaling $92.9M since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Bank Midwest lend in?
Bank Midwest provides SBA 7(a) financing with particularly strong presence in MN, IA, SD. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
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