STRONG
How competitive are their spreads? Lower = better for you.
GOOD
Total SBA loans closed. More deals = more experience.
GOOD
How many industries do they lend in? More = flexible.
WEAK
States where they've done deals. Wider = easier if you're out of state.
Total SBA Loans
108
2010–2025
Total Volume
$54M
Gross loan amounts
States Active
5
With recorded loans
Programs
7(a) & 504
108 total segments
BankWest, Inc. has a strong focus on 504 loans, making up 46% of their total SBA deals. This is significantly higher than the national average of 18%. If you're looking for financing for real estate or equipment, this lender is a solid choice.
With an average 7(a) spread of P+2.21%, BankWest, Inc. offers competitive pricing compared to the national median of P+2.75%. This could save you money on interest payments over the life of your loan.
The lender's growth trend shows a 33% year-over-year increase in deals, indicating they are expanding their lending capacity. This could mean a more favorable environment for securing a loan as they are actively looking to grow their portfolio.
Quarterly SBA lending activity, last 5 years.
Estimated spreads based on real historical SBA lending data. Directional, not exact quotes. Excludes 50 504 loans, which use fixed SBA debenture rates.
States where BankWest, Inc has recorded SBA lending activity.
Lending activity by industry cluster.
Top 8 of 15 industries by deal count
Specialty Trade Contractors
Construction
Restaurants & Food Service
Accommodation & Food Services
Auto Dealers & Parts
Retail Trade
Manufacturing
Manufacturing
Hotels & Accommodation
Accommodation & Food Services
Wholesale Trade
Wholesale Trade
Food & Beverage Stores
Retail Trade
Retail Trade
Retail Trade
+ 7 more
All recorded SBA lending activity for BankWest, Inc, grouped by state, industry, and deal size.
| Segment | Program | Deals↓ | Median Spread | Avg Size | Last Deal |
|---|---|---|---|---|---|
| South Dakota · Hotels & Accommodation · $500K – $1M | 504 | 4 | — | $737K | Q1 2025 |
| South Dakota · Specialty Trade Contractors · $150K – $350K | 7(a) | 3 | P+2.75% | $233K | Q2 2013 |
| South Dakota · Retail Trade · Under $150K | 7(a) | 3 | P+2.75% | $121K | Q4 2010 |
| Minnesota · Restaurants & Food Service · $150K – $350K | 7(a) | 3 | P+1.50% | $235K | Q3 2023 |
| South Dakota · Information & Media · Under $150K | 7(a) | 3 | P+3.75% | $39K | Q3 2011 |
| South Dakota · Food & Beverage Stores · Under $150K | 504 | 3 | — | $96K | Q2 2013 |
| South Dakota · Restaurants & Food Service · $500K – $1M | 504 | 2 | — | $597K | Q2 2021 |
| South Dakota · Agriculture & Forestry · $500K – $1M | 504 | 2 | — | $686K | Q4 2024 |
| Minnesota · Food & Beverage Stores · Under $150K | 7(a) | 2 | P+2.50% | $103K | Q2 2012 |
| South Dakota · Restaurants & Food Service · Under $150K | 7(a) | 2 | P+2.75% | $144K | Q2 2011 |
| Minnesota · Wholesale Trade · Under $150K | 7(a) | 2 | P+3.75% | $150K | Q2 2010 |
| South Dakota · Restaurants & Food Service · $150K – $350K | 504 | 2 | — | $323K | Q1 2022 |
| South Dakota · Auto Repair & Maintenance · Under $150K | 504 | 2 | — | $103K | Q3 2025 |
| South Dakota · Auto Dealers & Parts · $1M – $2M | 7(a) | 2 | P+2.75% | $1.2M | Q3 2010 |
| Minnesota · Manufacturing · $150K – $350K | 504 | 2 | — | $239K | Q2 2022 |
| Minnesota · Transportation & Warehousing · $150K – $350K | 7(a) | 1 | P+2.25% | $205K | Q1 2010 |
| Minnesota · Finance & Insurance · $500K – $1M | 7(a) | 1 | P+2.75% | $525K | Q3 2011 |
| Minnesota · Arts, Entertainment & Recreation · $150K – $350K | 7(a) | 1 | P+1.00% | $180K | Q3 2024 |
| South Dakota · Specialty Trade Contractors · Under $150K | 7(a) | 1 | P+2.75% | $25K | Q2 2012 |
| South Dakota · Specialty Trade Contractors · $350K – $500K | 7(a) | 1 | P+2.75% | $360K | Q1 2010 |
| South Dakota · Specialty Trade Contractors · $500K – $1M | 7(a) | 1 | P+2.75% | $680K | Q1 2010 |
| South Dakota · Auto Dealers & Parts · $150K – $350K | 7(a) | 1 | P+2.75% | $338K | Q2 2010 |
| South Dakota · Auto Dealers & Parts · $500K – $1M | 7(a) | 1 | P+2.75% | $540K | Q4 2011 |
| South Dakota · Food & Beverage Stores · $150K – $350K | 7(a) | 1 | P+2.00% | $200K | Q2 2013 |
| South Dakota · Sporting Goods & Hobby · Under $150K | 7(a) | 1 | P+2.75% | $63K | Q4 2009 |
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Real experiences from borrowers who closed SBA loans with BankWest, Inc.
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