County8th of 94 in Iowa by approvalsFIPS 19169
SBA loans in Story 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 65 loans to businesses in Story County, Iowa, in FY2021 to FY2025, worth $22.1M: 54 under 7(a) and 11 under 504.
That is 30.1 approvals per 1,000 business establishments (2,162 establishments in 2023), close to the Iowa figure of 27.0 and below the national 41.0.
It ranks 8th of 94 Iowa counties with approvals. In FY2025 there were 12, up 20% on FY2024.
23 lenders had approvals here; the most active were Iowa Business Growth Company (11), U.S. Bank, National Association (9) and BayFirst National Bank (7). 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 Story County
By number of approvals to businesses in the county, FY2021–FY2025; 23 lenders had at least one.
| # | Lender | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Iowa Business Growth CompanyJohnston, IA · CDC | 11 | $6.7M | 16.9% | |
| 2 | U.S. Bank, National AssociationCincinnati, OH | 9 | $290K | 13.8% | |
| 3 | BayFirst National BankSaint Petersburg, FL | 7 | $1.1M | 10.8% | |
| 4 | First Interstate BankBillings, MT | 6 | $5.0M | 9.2% | |
| 5 | Northeast BankLewiston, ME | 5 | $425K | 7.7% | |
| 6 | Northwest BankSpencer, IA | 4 | $1.6M | 6.2% | |
| 7 | Lincoln Savings BankReinbeck, IA | 4 | $453K | 6.2% | |
| 8 | VisionBank of IowaAmes, IA | 2 | — | 3.1% | |
| 9 | Home State BankJefferson, IA | 2 | — | 3.1% | |
| 10 | Newtek Small Business Finance, Inc.Lake Success, NY | 2 | — | 3.1% | |
| 11 | Wells Fargo Bank National AssociationSioux Falls, SD | 1 | — | 1.5% | |
| 12 | First Business BankMadison, WI | 1 | — | 1.5% | |
| 13 | South Story Bank & TrustSlater, IA | 1 | — | 1.5% | |
| 14 | Newtek Bank, National AssociationMiami, FL | 1 | — | 1.5% | |
| 15 | Luana Savings BankLuana, IA | 1 | — | 1.5% |
Industries
| # | Industry group (NAICS 4-digit) | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 16 | 24.6% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 6 | 9.2% | |
| 3 | Other Amusement and Recreation IndustriesNAICS 7139 | 4 | 6.2% | |
| 4 | Services to Buildings and DwellingsNAICS 5617 | 4 | 6.2% | |
| 5 | Architectural, Engineering, and Related ServicesNAICS 5413 | 3 | 4.6% | |
| 6 | Sporting Goods, Hobby, and Musical Instrument RetailersNAICS 4591 | 3 | 4.6% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 3 | 4.6% | |
| 8 | Plastics Product ManufacturingNAICS 3261 | 2 | 3.1% | |
| 9 | Child Day Care ServicesNAICS 6244 | 2 | 3.1% | |
| 10 | Personal Care ServicesNAICS 8121 | 2 | 3.1% |
Sectors
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 17 | 26.2% | |
| 2 | Other Services (except Public Administration) | 9 | 13.8% | |
| 3 | Retail Trade | 8 | 12.3% | |
| 4 | Professional, Scientific, and Technical Services | 6 | 9.2% | |
| 5 | Construction | 5 | 7.7% | |
| 6 | Manufacturing | 4 | 6.2% | |
| 7 | Health Care and Social Assistance | 4 | 6.2% | |
| 8 | Arts, Entertainment, and Recreation | 4 | 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* | 6 | $5.5M | $193K | 0 | — | 6 | 55 |
| FY2025 | 12 | $2.2M | $90K | 0 | — | 12 | 58 |
| FY2024 | 10 | $2.3M | $118K | 0 | — | 10 | 84 |
| FY2023 | 10 | $1.6M | $150K | 4 | $2.2M | 14 | 115 |
| FY2022 | 10 | $2.8M | $149K | 3 | $992K | 13 | 194 |
| FY2021 | 12 | $6.6M | $250K | 4 | $3.5M | 16 | 204 |
| FY2020 | 4 | $1.9M | $238K | 2 | — | 6 | 57 |
| FY2019 | 8 | $1.6M | $86K | 0 | — | 8 | 46 |
| FY2018 | 7 | $2.3M | $340K | 2 | — | 9 | 80 |
| FY2017 | 8 | $1.7M | $175K | 1 | — | 9 | 85 |
| FY2016 | 16 | $12.1M | $325K | 0 | — | 16 | 391 |
In FY2016–FY2020, the five fiscal years before the current window, the county had 48 approvals.
Against Iowa and the country
| FY2021–FY2025 | Story County | Iowa | United States |
|---|---|---|---|
| Approvals | 65 | 2,248 | 342,825 |
| Approvals per 1,000 establishments | 30.1 | 27.0 | 41.0 |
| Median 7(a) approval | $150K | $155K | $190K |
| Median 504 approval | $428K | $517K | $657K |
| Average approval | $340K | $474K | $573K |
| 504 share of approvals | 16.9% | 16.2% | 11.0% |
| Jobs supported per approval, as reported | 10.1 | 10.3 | 10.5 |
| Share of state approvals | 2.9% | 100.0% | — |
Approval sizes
- $50,000 or less18.5%12
- $50,001 to $150,00035.4%23
- $150,001 to $350,00021.5%14
- $350,001 to $1 million18.5%12
- $1 million to $2 million4.6%3
- Over $2 million1.5%1
Age of the businesses
- Existing, more than 2 years old60.0%39
- New business, 2 years or less16.9%11
- Startup, loan funds will open the business20.0%13
- Change of ownership3.1%2
Questions and answers
Which lenders make the most SBA loans in Story County?
By approvals in FY2021 to FY2025: Iowa Business Growth Company (11), U.S. Bank, National Association (9), BayFirst National Bank (7), First Interstate Bank (6), Northeast Bank (5). Volume says how active a lender is, nothing about terms or service.
How large are typical SBA loans in Story County?
The median 7(a) approval was $150K and the median 504 approval $428K; the Iowa 7(a) median was $155K.
Which industries get the most SBA loans in Story County?
Restaurants and Other Eating Places (16); Automotive Repair and Maintenance (6); Other Amusement and Recreation Industries (4); Services to Buildings and Dwellings (4); Architectural, Engineering, and Related Services (3).
Is SBA lending in Story County rising?
Approvals in the three latest complete fiscal years total 36, against 35 in the three before: broadly level (+3%).
How does Story County compare with the rest of Iowa?
30.1 approvals per 1,000 establishments against 27.0 statewide, and 65 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