Lenders › Northwest Bank
7(a) lenderSpencer, IowaFDIC-insured bank370th of 2,184 by approvals
Northwest Bank
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Northwest Bank, based in Spencer, Iowa, is an FDIC-insured bank in the SBA 7(a) program. SBA approved 82 of its 7(a) loans worth $27.6M in FY2021 to FY2025, which places it 370th of 2,184 active 7(a) lenders by number of approvals.
In FY2025, the latest complete fiscal year, it had 16 approvals totalling $3.3M, about level with FY2024 (15). FY2026 to 30 Jun 2026 adds 11 more.
The median approval was $154K, against $190K for the 7(a) program as a whole; 48.8% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 4 states and territories and 23 counties, led by Iowa (63.4%), Nebraska (32.9%) and Missouri (2.4%). The largest industry group was other services (except public administration) at 19.5% of approvals, and 20.7% of approvals were to franchise businesses.
Of 255 disbursed loans approved in FY2010 to FY2021, SBA records 12 as charged off (4.7%), 218 as paid in full and 25 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 11 | $10.0M | $185K | $909K | 107 |
| FY2025 | 16 | $3.3M | $96K | $205K | 136 |
| FY2024 | 15 | $2.8M | $100K | $187K | 143 |
| FY2023 | 9 | $2.9M | $282K | $324K | 109 |
| FY2022 | 21 | $7.7M | $200K | $369K | 146 |
| FY2021 | 21 | $10.9M | $240K | $517K | 291 |
| FY2020 | 20 | $4.7M | $109K | $235K | 208 |
| FY2019 | 29 | $10.6M | $182K | $367K | 412 |
| FY2018 | 27 | $6.6M | $125K | $243K | 228 |
| FY2017 | 23 | $3.9M | $114K | $169K | 202 |
| FY2016 | 22 | $4.0M | $112K | $184K | 238 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 121 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Iowa | 7(a) program |
|---|---|---|---|
| Approvals in these years | 283 | 5,075 | 639,905 |
| Cancelled or never disbursed | 28 | 554 | 79,313 |
| Disbursed loans | 255 | 4,521 | 560,592 |
| Paid in full | 218 | 3,576 | 435,813 |
| Charged off | 12 | 314 | 36,891 |
| Still outstanding (status exempt from disclosure) | 25 | 631 | 87,888 |
| Charged off, share of disbursed loans | 4.7% | 6.9% | 6.6% |
| Dollars charged off, share of disbursed dollars | 2.9% | 3.9% | 2.5% |
| Dollars charged off | $2.3M | $66.2M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 20 | 9 | 0 | — | 2.8% |
| FY2020 | 18 | 13 | 0 | — | 4.0% |
| FY2019 | 24 | 17 | 1 | — | 6.7% |
| FY2018 | 24 | 22 | 1 | — | 7.9% |
| FY2017 | 20 | 18 | 1 | — | 7.7% |
| FY2016 | 21 | 19 | 1 | — | 7.2% |
| FY2015 | 10 | 10 | 0 | — | 6.9% |
| FY2014 | 9 | 8 | 1 | — | 6.4% |
| FY2013 | 21 | 21 | 0 | — | 6.0% |
| FY2012 | 20 | 18 | 2 | — | 6.3% |
| FY2011 | 29 | 28 | 1 | — | 6.9% |
| FY2010 | 39 | 35 | 4 | 10.3% | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $154K | $190K |
| Average approval | $337K | $518K |
| Approvals of $150,000 or less | 48.8% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 48.8% | 34.3% |
| Approvals to franchise businesses | 20.7% | 11.5% |
| Jobs supported per approval, as reported | 10.1 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 4.7% | 6.6% |
States served
| # | State of the business (4 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Iowa | 52 | $19.0M | 63.4% | |
| 2 | Nebraska | 27 | $7.4M | 32.9% | |
| 3 | Missouri | 2 | — | 2.4% | |
| 4 | South Dakota | 1 | — | 1.2% |
In Iowa the lender accounts for 2.8% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (23 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Polk County, IA | 22 | $10.7M | 26.8% | |
| 2 | Douglas County, NE | 21 | $5.2M | 25.6% | |
| 3 | Story County, IA | 4 | $1.6M | 4.9% | |
| 4 | Sarpy County, NE | 3 | $1.3M | 3.7% | |
| 5 | Dickinson County, IA | 3 | $1.1M | 3.7% | |
| 6 | Dallas County, IA | 3 | $710K | 3.7% | |
| 7 | O'Brien County, IA | 3 | $685K | 3.7% | |
| 8 | Clay County, IA | 3 | $124K | 3.7% | |
| 9 | Woodbury County, IA | 2 | — | 2.4% | |
| 10 | Webster County, IA | 2 | — | 2.4% | |
| 11 | Scott County, IA | 2 | — | 2.4% | |
| 12 | Atchison County, MO | 2 | — | 2.4% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Services (except Public Administration) | 16 | 19.5% | |
| 2 | Construction | 12 | 14.6% | |
| 3 | Accommodation and Food Services | 10 | 12.2% | |
| 4 | Manufacturing | 7 | 8.5% | |
| 5 | Arts, Entertainment, and Recreation | 7 | 8.5% | |
| 6 | Retail Trade | 7 | 8.5% | |
| 7 | Health Care and Social Assistance | 6 | 7.3% | |
| 8 | Finance and Insurance | 4 | 4.9% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 10 | 12.2% | |
| 2 | Personal Care ServicesNAICS 8121 | 7 | 8.5% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 6 | 7.3% | |
| 4 | Offices of Other Health PractitionersNAICS 6213 | 5 | 6.1% | |
| 5 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 4 | 4.9% | |
| 6 | Foundation, Structure, and Building Exterior ContractorsNAICS 2381 | 3 | 3.7% | |
| 7 | Couriers and Express Delivery ServicesNAICS 4921 | 3 | 3.7% | |
| 8 | Building Equipment ContractorsNAICS 2382 | 3 | 3.7% | |
| 9 | Other Specialty Trade ContractorsNAICS 2389 | 3 | 3.7% | |
| 10 | Electronic and Precision Equipment Repair and MaintenanceNAICS 8112 | 2 | 2.4% |
Approval sizes
- $50,000 or less17.1%14
- $50,001 to $150,00031.7%26
- $150,001 to $350,00026.8%22
- $350,001 to $1 million15.9%13
- $1 million to $2 million7.3%6
- Over $2 million1.2%1
Loan terms
- 5 years or less9.8%8
- Over 5 to 10 years84.1%69
- Over 10 to 20 years6.1%5
Age of the businesses
- Existing, more than 2 years old18.3%15
- New business, 2 years or less18.3%15
- Startup, loan funds will open the business30.5%25
- Change of ownership32.9%27
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 44 | 53.7% | |
| 2 | SBA Express Program | 22 | 26.8% | |
| 3 | 7a General | 14 | 17.1% | |
| 4 | Working Capital CAPLine | 2 | 2.4% |
Franchise share
17 of 82 approvals in FY2021–FY2025 (20.7%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | CKO Kickboxing | 3 | 3.7% | |
| 2 | Hallmark Homecare | 2 | 2.4% | |
| 3 | Jimmy John's | 1 | 1.2% | |
| 4 | Units | 1 | 1.2% | |
| 5 | Massage Heights | 1 | 1.2% | |
| 6 | Subway | 1 | 1.2% | |
| 7 | Dairy Queen Franchise Agreement for Store County, Iowa | 1 | 1.2% | |
| 8 | Eat the Frog Fitness | 1 | 1.2% |
Questions and answers
How many SBA loans does Northwest Bank make?
SBA approved 16 7(a) loans through Northwest Bank in FY2025, worth $3.3M, and 82 over FY2021 to FY2025. That ranks 370th of 2,184 active 7(a) lenders by number of approvals.
How large are Northwest Bank's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $154K and the average $337K. The program-wide median was $190K.
What is Northwest Bank's charge-off rate?
Of 255 disbursed loans approved in FY2010 to FY2021, SBA records 12 as charged off (4.7%), 218 as paid in full and 25 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Northwest Bank lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (10); personal care services (7); other amusement and recreation industries (6); offices of other health practitioners (5).
Where does Northwest Bank make SBA loans?
In 4 states and territories. Iowa 52, Nebraska 27, Missouri 2, South Dakota 1. In Iowa it accounts for 2.8% of all 7(a) approvals.
Is Northwest Bank's SBA lending rising?
Approvals in the three latest complete fiscal years total 40, against 62 in the three before: falling (-35%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error