States › Iowa › Black Hawk County
County4th of 94 in Iowa by approvalsFIPS 19013
SBA loans in Black Hawk County, Iowa
7(a) and 504 approvals to businesses located in the county, set against the number of businesses there and against the state.
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.
SBA approved 109 loans to businesses in Black Hawk County, Iowa, in FY2021 to FY2025, worth $42.6M: 98 under 7(a) and 11 under 504.
That is 35.1 approvals per 1,000 business establishments (3,105 establishments in 2023), above the Iowa figure of 27.0 and close to the national 41.0.
It ranks 4th of 94 Iowa counties with approvals. In FY2025 there were 21, up 17% on FY2024.
23 lenders had approvals here; the most active were Farmers State Bank (39), Lincoln Savings Bank (18) and Black Hawk Economic Development, Inc. (10). The most common industry was restaurants and other eating places.
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. Data through 30 Jun 2026.
Lenders most active in Black Hawk County
By number of approvals to businesses in the county, FY2021–FY2025; 23 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Farmers State BankWaterloo, IA | 39 | $10.3M | 35.8% | |
| 2 | Lincoln Savings BankReinbeck, IA | 18 | $6.2M | 16.5% | |
| 3 | Black Hawk Economic Development, Inc.Waterloo, IA · CDC | 10 | $5.3M | 9.2% | |
| 4 | First BankWaverly, IA | 7 | $4.3M | 6.4% | |
| 5 | U.S. Bank, National AssociationCincinnati, OH | 6 | $1.0M | 5.5% | |
| 6 | Newtek Bank, National AssociationMiami, FL | 5 | $1.2M | 4.6% | |
| 7 | Northeast BankLewiston, ME | 3 | $265K | 2.8% | |
| 8 | Metro City BankDoraville, GA | 2 | — | 1.8% | |
| 9 | The Huntington National BankColumbus, OH | 2 | — | 1.8% | |
| 10 | Farmers and Merchants Savings BankManchester, IA | 2 | — | 1.8% | |
| 11 | Cedar Rapids Bank and Trust CompanyCedar Rapids, IA | 2 | — | 1.8% | |
| 12 | Wells Fargo Bank National AssociationSioux Falls, SD | 2 | — | 1.8% | |
| 13 | Climate First BankSt. Petersburg, FL | 1 | — | 0.9% | |
| 14 | First Interstate BankBillings, MT | 1 | — | 0.9% | |
| 15 | United Midwest Savings Bank National AssociationDe Graff, OH | 1 | — | 0.9% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 18 | 16.5% | |
| 2 | Other Amusement and Recreation IndustriesNAICS 7139 | 7 | 6.4% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 6 | 5.5% | |
| 4 | Personal Care ServicesNAICS 8121 | 6 | 5.5% | |
| 5 | Services to Buildings and DwellingsNAICS 5617 | 5 | 4.6% | |
| 6 | Specialty Food StoresNAICS 4452 | 4 | 3.7% | |
| 7 | Grocery StoresNAICS 4451 | 3 | 2.8% | |
| 8 | Architectural, Engineering, and Related ServicesNAICS 5413 | 3 | 2.8% | |
| 9 | Other Personal ServicesNAICS 8129 | 3 | 2.8% | |
| 10 | Offices of Other Health PractitionersNAICS 6213 | 3 | 2.8% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 21 | 19.3% | |
| 2 | Accommodation and Food Services | 20 | 18.3% | |
| 3 | Other Services (except Public Administration) | 18 | 16.5% | |
| 4 | Administrative and Support and Waste Management and Remediation Services | 8 | 7.3% | |
| 5 | Professional, Scientific, and Technical Services | 8 | 7.3% | |
| 6 | Arts, Entertainment, and Recreation | 7 | 6.4% | |
| 7 | Manufacturing | 5 | 4.6% | |
| 8 | Construction | 5 | 4.6% |
Approvals by fiscal year
| Fiscal year | 7(a) approvals | 7(a) dollars | Median 7(a) | 504 approvals | 504 dollars | All approvals | Jobs supported, as reported |
|---|---|---|---|---|---|---|---|
| FY2026* | 16 | $8.9M | $195K | 3 | $953K | 19 | 307 |
| FY2025 | 17 | $8.6M | $200K | 4 | $1.4M | 21 | 239 |
| FY2024 | 17 | $4.4M | $115K | 1 | — | 18 | 220 |
| FY2023 | 15 | $6.2M | $150K | 0 | — | 15 | 150 |
| FY2022 | 22 | $9.3M | $240K | 4 | $2.3M | 26 | 343 |
| FY2021 | 27 | $8.5M | $125K | 2 | — | 29 | 352 |
| FY2020 | 18 | $4.3M | $200K | 4 | $2.0M | 22 | 260 |
| FY2019 | 17 | $4.1M | $111K | 2 | — | 19 | 156 |
| FY2018 | 25 | $6.8M | $100K | 3 | $873K | 28 | 321 |
| FY2017 | 29 | $6.3M | $114K | 5 | $3.6M | 34 | 396 |
| FY2016 | 19 | $5.8M | $80K | 4 | $5.1M | 23 | 237 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 126 approvals.
Against Iowa and the country
| FY2021–FY2025 | Black Hawk County | Iowa | United States |
|---|---|---|---|
| Approvals | 109 | 2,248 | 342,825 |
| Approvals per 1,000 establishments | 35.1 | 27.0 | 41.0 |
| Median 7(a) approval | $150K | $155K | $190K |
| Median 504 approval | $379K | $517K | $657K |
| Average approval | $391K | $474K | $573K |
| 504 share of approvals | 10.1% | 16.2% | 11.0% |
| Jobs supported per approval, as reported | 12.0 | 10.3 | 10.5 |
| Share of state approvals | 4.8% | 100.0% | — |
Approval sizes
- $50,000 or less16.5%18
- $50,001 to $150,00032.1%35
- $150,001 to $350,00024.8%27
- $350,001 to $1 million14.7%16
- $1 million to $2 million8.3%9
- Over $2 million3.7%4
Age of the businesses
- Existing, more than 2 years old40.4%44
- New business, 2 years or less25.7%28
- Startup, loan funds will open the business24.8%27
- Change of ownership9.2%10
Questions and answers
Which lenders make the most SBA loans in Black Hawk County?
By approvals in FY2021 to FY2025: Farmers State Bank (39), Lincoln Savings Bank (18), Black Hawk Economic Development, Inc. (10), First Bank (7), U.S. Bank, National Association (6). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Black Hawk County?
The median 7(a) approval was $150K and the median 504 approval $379K; the Iowa 7(a) median was $155K.
Which industries get the most SBA loans in Black Hawk County?
Restaurants and Other Eating Places (18); Other Amusement and Recreation Industries (7); Automotive Repair and Maintenance (6); Personal Care Services (6); Services to Buildings and Dwellings (5).
Is SBA lending in Black Hawk County rising?
Approvals in the three latest complete fiscal years total 54, against 77 in the three before: falling (-30%).
How does Black Hawk County compare with the rest of Iowa?
35.1 approvals per 1,000 establishments against 27.0 statewide, and 109 of the state's 2,248 approvals.
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. Establishment counts are from the Census Bureau's County Business Patterns 2023, which leaves out most farms, government and businesses without employees. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error