Feasibility Study Data for the Willmar, MN Micro Area

Agricultural-county basics with a firm 504 presence

Willmar, MN is Kandiyohi County alone, a micropolitan area with 199 loans and $83.6 million from FY2017 to FY2026, ranking 315 of 928. Programme mix is 159 under 7(a) and 40 under 504. Half of the loans lie between $73,500 and $439,750, and the $226,000 median is 1.09x the country's. Franchise brands appear in 12.1% of loans. No single class stands far above the others, which itself is informative.

Gas station and truck stop and hotel and motel tie for first with 8 loans each, automotive mechanical repair and limited-service restaurant have 6 each, and 152 loans lie outside the tracked classes. With a list this flat, a study for a specific use cannot lean on a leading class for local precedent, and will have to build the case from the site's own demand. Kandiyohi County holds all 199 loans, which keeps the evidence local.

Holders

In SBA's holder field, each institution listed holds or held loans in the area; these names describe the loan book and imply nothing about a lender's rules. Lake Region Bank holds 29 7(a) loans worth $2.9 million, United Prairie Bank 25 worth $8.4 million, Kensington Bank 19 worth $7.2 million, Old National Bank 13 worth $10.6 million and United Minnesota Bank 11 worth $2.6 million. Old National Bank's average loan is many times that of Lake Region Bank.

Cancelled approvals total 9.0% for FY2017 to FY2024, and treating undisbursed loans as cancelled does not move that 9.0%. Loan Analytics keeps Willmar's charge-off rate off the page, since fewer than 30 loans stand behind it, so no number is offered and the gap is not a zero. Approvals peaked at 30 loans in FY2021 and fell to 9 loans in FY2025, though FY2026 reached $11.4 million on 12 loans, the largest dollar total since FY2018.

Testing a Willmar project

A study should show demand in Kandiyohi County that does not depend on a leading local class, hold cost against loans somewhat higher than the country's, and run coverage while allowing for losses the page does not print. The appraisal has to carry value. Kandiyohi County is placed by the 2023 delineation. Lenders and borrowers alike should read it as background, as it cannot suggest that an approval will follow.