SBA lender profile
Bank Midwest
Bank Midwest appears in the public SBA loan data with 25 funded 7(a) loans totaling $11.6M, an average of $464K per loan, and an estimated 320 jobs supported. Its SBA lending concentrates in Minnesota and the Wholesale Trade sector. Across all of its loans in the data, its charge-off rate is 0.0%.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, as of 2026-03-31
Funded loans
25
Total volume
$11.6M
Average loan size
$464K
Charge-off rate
0.0%
Share of funded loans charged off
Jobs supported (reported)
320
Programs
7(a)
Bank profile
via FDIC- Total assets
- $1.3B
- Headquarters
- Spirit Lake, IA
- FDIC cert
- #5170
- Status
- Active
Where Bank Midwest lends
Top states by funded SBA volume.
| State | Loans | Total volume |
|---|---|---|
| Minnesota | 11 | $8.5M |
| Iowa | 11 | $2.2M |
| South Dakota | 3 | $839K |
What Bank Midwest funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Wholesale Trade | 3 | $3.7M |
| Construction | 1 | $3.2M |
| Accommodation and Food Services | 7 | $1.6M |
| Manufacturing | 3 | $884K |
| Health Care and Social Assistance | 2 | $707K |
| Other Services | 2 | $574K |
Bank Midwest SBA lending by year
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2020 | 4 | $6.7M |
| 2021 | 4 | $838K |
| 2022 | 9 | $1.4M |
| 2023 | 6 | $1.6M |
| 2024 | 2 | $1.1M |
Sources and disclaimer. All figures are computed from
the U.S. Small Business Administration's public FOIA 7(a) and 504 loan data (as of 2026-03-31),
as described in our methodology.
The charge-off rate is the share of Bank Midwest's funded loans marked charged off across all of its
loans in the data; it is not a lifetime default rate. SBA Loan Index is not affiliated with the
SBA and is not a lender, broker, or financial advisor. This is general information, not advice.
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