County1st of 94 in Iowa by approvalsFIPS 19153
SBA loans in Polk 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.
Businesses in Polk County, Iowa, received 535 SBA loan approvals worth $254M in FY2021 to FY2025 (460 7(a), 75 504).
That is 38.5 approvals per 1,000 business establishments (13,890 establishments in 2023), above the Iowa figure of 27.0 and close to the national 41.0.
It ranks 1st of 94 Iowa counties with approvals. In FY2025 there were 131, up 15% on FY2024.
95 lenders had approvals here; the most active were U.S. Bank, National Association (67), Lincoln Savings Bank (50) and Iowa Business Growth Company (48). 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 Polk County
By number of approvals to businesses in the county, FY2021–FY2025; 95 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | U.S. Bank, National AssociationCincinnati, OH | 67 | $6.2M | 12.5% | |
| 2 | Lincoln Savings BankReinbeck, IA | 50 | $24.3M | 9.3% | |
| 3 | Iowa Business Growth CompanyJohnston, IA · CDC | 48 | $44.3M | 9.0% | |
| 4 | Northwest BankSpencer, IA | 22 | $10.7M | 4.1% | |
| 5 | The Huntington National BankColumbus, OH | 22 | $5.0M | 4.1% | |
| 6 | First Mid Bank & Trust, National AssociationMattoon, IL | 20 | $5.0M | 3.7% | |
| 7 | Farmers State BankWaterloo, IA | 19 | $5.1M | 3.6% | |
| 8 | Wells Fargo Bank National AssociationSioux Falls, SD | 17 | $4.0M | 3.2% | |
| 9 | Pivotal Business PartnersDes Moines, IA · CDC | 16 | $13.8M | 3.0% | |
| 10 | Northeast BankLewiston, ME | 15 | $2.0M | 2.8% | |
| 11 | City State BankNorwalk, IA | 14 | $6.7M | 2.6% | |
| 12 | Bankers Trust CompanyDes Moines, IA | 11 | $3.4M | 2.1% | |
| 13 | Live Oak Banking CompanyWilmington, NC | 9 | $13.7M | 1.7% | |
| 14 | Newtek Small Business Finance, Inc.Lake Success, NY | 8 | $2.8M | 1.5% | |
| 15 | First National Bank Ames, IowaAmes, IA | 8 | $1.4M | 1.5% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 59 | 11.0% | |
| 2 | Other Amusement and Recreation IndustriesNAICS 7139 | 31 | 5.8% | |
| 3 | Offices of Other Health PractitionersNAICS 6213 | 27 | 5.0% | |
| 4 | Personal Care ServicesNAICS 8121 | 21 | 3.9% | |
| 5 | Child Day Care ServicesNAICS 6244 | 18 | 3.4% | |
| 6 | Automotive Repair and MaintenanceNAICS 8111 | 17 | 3.2% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 16 | 3.0% | |
| 8 | Services to Buildings and DwellingsNAICS 5617 | 15 | 2.8% | |
| 9 | General Freight TruckingNAICS 4841 | 13 | 2.4% | |
| 10 | Building Finishing ContractorsNAICS 2383 | 13 | 2.4% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 76 | 14.2% | |
| 2 | Construction | 67 | 12.5% | |
| 3 | Health Care and Social Assistance | 63 | 11.8% | |
| 4 | Other Services (except Public Administration) | 58 | 10.8% | |
| 5 | Retail Trade | 51 | 9.5% | |
| 6 | Professional, Scientific, and Technical Services | 48 | 9.0% | |
| 7 | Arts, Entertainment, and Recreation | 34 | 6.4% | |
| 8 | Administrative and Support and Waste Management and Remediation Services | 33 | 6.2% |
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* | 59 | $38.6M | $350K | 6 | $8.7M | 65 | 798 |
| FY2025 | 117 | $41.2M | $148K | 14 | $16.6M | 131 | 1,538 |
| FY2024 | 106 | $37.8M | $139K | 8 | $10.0M | 114 | 1,174 |
| FY2023 | 75 | $30.1M | $230K | 15 | $15.3M | 90 | 1,179 |
| FY2022 | 82 | $30.7M | $224K | 21 | $19.3M | 103 | 1,147 |
| FY2021 | 80 | $39.0M | $209K | 17 | $14.1M | 97 | 1,242 |
| FY2020 | 90 | $50.8M | $190K | 16 | $17.0M | 106 | 1,437 |
| FY2019 | 86 | $37.7M | $160K | 5 | $8.0M | 91 | 1,431 |
| FY2018 | 79 | $30.2M | $175K | 6 | $2.4M | 85 | 1,022 |
| FY2017 | 104 | $35.0M | $146K | 6 | $3.4M | 110 | 1,014 |
| FY2016 | 99 | $32.1M | $190K | 11 | $7.8M | 110 | 1,332 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 502 approvals.
Against Iowa and the country
| FY2021–FY2025 | Polk County | Iowa | United States |
|---|---|---|---|
| Approvals | 535 | 2,248 | 342,825 |
| Approvals per 1,000 establishments | 38.5 | 27.0 | 41.0 |
| Median 7(a) approval | $161K | $155K | $190K |
| Median 504 approval | $683K | $517K | $657K |
| Average approval | $475K | $474K | $573K |
| 504 share of approvals | 14.0% | 16.2% | 11.0% |
| Jobs supported per approval, as reported | 11.7 | 10.3 | 10.5 |
| Share of state approvals | 23.8% | 100.0% | — |
Approval sizes
- $50,000 or less23.0%123
- $50,001 to $150,00019.6%105
- $150,001 to $350,00025.0%134
- $350,001 to $1 million20.0%107
- $1 million to $2 million7.7%41
- Over $2 million4.7%25
Age of the businesses
- Existing, more than 2 years old46.0%246
- New business, 2 years or less20.0%107
- Startup, loan funds will open the business23.7%127
- Change of ownership10.3%55
Questions and answers
Which lenders make the most SBA loans in Polk County?
By approvals in FY2021 to FY2025: U.S. Bank, National Association (67), Lincoln Savings Bank (50), Iowa Business Growth Company (48), Northwest Bank (22), The Huntington National Bank (22). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Polk County?
The median 7(a) approval was $161K and the median 504 approval $683K; the Iowa 7(a) median was $155K.
Which industries get the most SBA loans in Polk County?
Restaurants and Other Eating Places (59); Other Amusement and Recreation Industries (31); Offices of Other Health Practitioners (27); Personal Care Services (21); Child Day Care Services (18).
Is SBA lending in Polk County rising?
Approvals in the three latest complete fiscal years total 335, against 306 in the three before: broadly level (+9%).
How does Polk County compare with the rest of Iowa?
38.5 approvals per 1,000 establishments against 27.0 statewide, and 535 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