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County10th of 94 in Iowa by approvalsFIPS 19033
SBA loans in Cerro Gordo 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 51 loans to businesses in Cerro Gordo County, Iowa, in FY2021 to FY2025, worth $20.6M: 50 under 7(a) and 1 under 504.
That is 37.6 approvals per 1,000 business establishments (1,357 establishments in 2023), above the Iowa figure of 27.0 and close to the national 41.0.
It ranks 10th of 94 Iowa counties with approvals. In FY2025 there were 7, down 46% on FY2024.
13 lenders had approvals here; the most active were Clear Lake Bank & Trust Company (25), NSB Bank (9) and U.S. Bank, National Association (5). The most common industry was automotive repair and maintenance.
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 Cerro Gordo County
By number of approvals to businesses in the county, FY2021–FY2025; 13 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Clear Lake Bank & Trust CompanyClear Lake, IA | 25 | $8.3M | 49.0% | |
| 2 | NSB BankMason City, IA | 9 | $8.5M | 17.6% | |
| 3 | U.S. Bank, National AssociationCincinnati, OH | 5 | $105K | 9.8% | |
| 4 | First Citizens BankMason City, IA | 2 | — | 3.9% | |
| 5 | Wells Fargo Bank National AssociationSioux Falls, SD | 2 | — | 3.9% | |
| 6 | Black Hawk Economic Development, Inc.Waterloo, IA · CDC | 1 | — | 2.0% | |
| 7 | Iowa State BankAlgona, IA | 1 | — | 2.0% | |
| 8 | City National Bank of FloridaMiami, FL | 1 | — | 2.0% | |
| 9 | Lendistry SBLC, LLCLos Angeles, CA | 1 | — | 2.0% | |
| 10 | United Midwest Savings Bank National AssociationDe Graff, OH | 1 | — | 2.0% | |
| 11 | Bankers Trust CompanyDes Moines, IA | 1 | — | 2.0% | |
| 12 | Reliance State BankStory City, IA | 1 | — | 2.0% | |
| 13 | Celtic Bank CorporationSalt Lake City, UT | 1 | — | 2.0% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Automotive Repair and MaintenanceNAICS 8111 | 6 | 11.8% | |
| 2 | Building Equipment ContractorsNAICS 2382 | 4 | 7.8% | |
| 3 | Restaurants and Other Eating PlacesNAICS 7225 | 4 | 7.8% | |
| 4 | Other Amusement and Recreation IndustriesNAICS 7139 | 3 | 5.9% | |
| 5 | Remediation and Other Waste Management ServicesNAICS 5629 | 2 | 3.9% | |
| 6 | Activities Related to Real EstateNAICS 5313 | 2 | 3.9% | |
| 7 | Personal Care ServicesNAICS 8121 | 2 | 3.9% | |
| 8 | Machinery, Equipment, and Supplies Merchant WholesalersNAICS 4238 | 2 | 3.9% | |
| 9 | Other Specialty Trade ContractorsNAICS 2389 | 2 | 3.9% | |
| 10 | General Freight TruckingNAICS 4841 | 2 | 3.9% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Other Services (except Public Administration) | 9 | 17.6% | |
| 2 | Construction | 7 | 13.7% | |
| 3 | Retail Trade | 6 | 11.8% | |
| 4 | Accommodation and Food Services | 6 | 11.8% | |
| 5 | Administrative and Support and Waste Management and Remediation Services | 3 | 5.9% | |
| 6 | Real Estate and Rental and Leasing | 3 | 5.9% | |
| 7 | Arts, Entertainment, and Recreation | 3 | 5.9% | |
| 8 | Manufacturing | 3 | 5.9% |
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* | 2 | — | — | 0 | — | 2 | 44 |
| FY2025 | 7 | $924K | $45K | 0 | — | 7 | 39 |
| FY2024 | 12 | $4.2M | $310K | 1 | — | 13 | 72 |
| FY2023 | 7 | $783K | $68K | 0 | — | 7 | 19 |
| FY2022 | 8 | $2.6M | $174K | 0 | — | 8 | 92 |
| FY2021 | 16 | $11.0M | $184K | 0 | — | 16 | 139 |
| FY2020 | 3 | $395K | $135K | 0 | — | 3 | 17 |
| FY2019 | 10 | $2.6M | $68K | 0 | — | 10 | 60 |
| FY2018 | 12 | $2.7M | $98K | 1 | — | 13 | 59 |
| FY2017 | 8 | $3.7M | $190K | 3 | $1.3M | 11 | 60 |
| FY2016 | 12 | $8.6M | $118K | 5 | $1.5M | 17 | 371 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 54 approvals.
Against Iowa and the country
| FY2021–FY2025 | Cerro Gordo County | Iowa | United States |
|---|---|---|---|
| Approvals | 51 | 2,248 | 342,825 |
| Approvals per 1,000 establishments | 37.6 | 27.0 | 41.0 |
| Median 7(a) approval | $150K | $155K | $190K |
| Median 504 approval | — | $517K | $657K |
| Average approval | $404K | $474K | $573K |
| 504 share of approvals | 2.0% | 16.2% | 11.0% |
| Jobs supported per approval, as reported | 7.1 | 10.3 | 10.5 |
| Share of state approvals | 2.3% | 100.0% | — |
Approval sizes
- $50,000 or less15.7%8
- $50,001 to $150,00035.3%18
- $150,001 to $350,00017.6%9
- $350,001 to $1 million19.6%10
- $1 million to $2 million9.8%5
- Over $2 million2.0%1
Age of the businesses
- Existing, more than 2 years old41.2%21
- New business, 2 years or less13.7%7
- Startup, loan funds will open the business17.6%9
- Change of ownership27.5%14
Questions and answers
Which lenders make the most SBA loans in Cerro Gordo County?
By approvals in FY2021 to FY2025: Clear Lake Bank & Trust Company (25), NSB Bank (9), U.S. Bank, National Association (5), First Citizens Bank (2), Wells Fargo Bank National Association (2). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Cerro Gordo County?
The median 7(a) approval was $150K; the Iowa 7(a) median was $155K.
Which industries get the most SBA loans in Cerro Gordo County?
Automotive Repair and Maintenance (6); Building Equipment Contractors (4); Restaurants and Other Eating Places (4); Other Amusement and Recreation Industries (3); Remediation and Other Waste Management Services (2).
Is SBA lending in Cerro Gordo County rising?
Approvals in the three latest complete fiscal years total 27, against 27 in the three before: broadly level (0%).
How does Cerro Gordo County compare with the rest of Iowa?
37.6 approvals per 1,000 establishments against 27.0 statewide, and 51 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