Lenders › Black Hawk Economic Development, Inc.
504 CDCWaterloo, Iowacertified development company132nd of 182 by approvals
Black Hawk Economic Development, Inc.
SBA 504 loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
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.
Black Hawk Economic Development, Inc., based in Waterloo, Iowa, is a certified development company (CDC) that makes SBA 504 loans. SBA approved 32 of its 504 loans worth $23.7M in FY2021 to FY2025, which places it 132nd of 182 active CDCs by number of approvals.
In FY2025, the latest complete fiscal year, it had 5 approvals totalling $3.3M. FY2026 to 30 Jun 2026 adds 9 more.
The median approval was $505K, against $657K for the 504 program as a whole; 15.6% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 2 states and territories and 15 counties, led by Iowa (96.9%) and Missouri (3.1%). The largest industry group was retail trade at 25.0% of approvals, and 6.3% of approvals were to franchise businesses.
Of 126 disbursed loans approved in FY2010 to FY2021, SBA records 4 as charged off (3.2%), 52 as paid in full and 70 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is above it.
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. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 9 | $2.4M | $229K | $268K | 44 |
| FY2025 | 5 | $3.3M | $265K | $666K | 48 |
| FY2024 | 6 | $3.9M | $656K | $645K | 145 |
| FY2023 | 0 | — | — | — | 0 |
| FY2022 | 12 | $11.8M | $505K | $984K | 227 |
| FY2021 | 9 | $4.7M | $564K | $523K | 154 |
| FY2020 | 12 | $6.1M | $293K | $508K | 55 |
| FY2019 | 6 | $1.2M | $158K | $206K | 41 |
| FY2018 | 9 | $7.5M | $275K | $834K | 91 |
| FY2017 | 12 | $6.2M | $302K | $514K | 90 |
| FY2016 | 18 | $15.4M | $574K | $855K | 236 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 57 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | Iowa | 504 program |
|---|---|---|---|
| Approvals in these years | 161 | 954 | 85,591 |
| Cancelled or never disbursed | 35 | 134 | 12,514 |
| Disbursed loans | 126 | 820 | 73,077 |
| Paid in full | 52 | 415 | 35,491 |
| Charged off | 4 | 12 | 905 |
| Still outstanding (status exempt from disclosure) | 70 | 393 | 36,681 |
| Charged off, share of disbursed loans | 3.2% | 1.5% | 1.2% |
| Dollars charged off, share of disbursed dollars | 1.1% | 1.1% | 0.9% |
| Dollars charged off | $771K | $5.5M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 5 | 0 | 0 | — | 0.1% |
| FY2020 | 10 | 1 | 0 | — | 0.1% |
| FY2019 | 5 | 0 | 0 | — | 0.3% |
| FY2018 | 9 | 4 | 0 | — | 0.4% |
| FY2017 | 11 | 2 | 1 | — | 0.8% |
| FY2016 | 16 | 6 | 0 | — | 1.0% |
| FY2015 | 8 | 3 | 0 | — | 1.2% |
| FY2014 | 7 | 4 | 0 | — | 1.3% |
| FY2013 | 14 | 8 | 1 | — | 1.4% |
| FY2012 | 20 | 11 | 0 | — | 2.0% |
| FY2011 | 7 | 5 | 0 | — | 2.1% |
| FY2010 | 14 | 8 | 2 | — | 3.4% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 504 program
| FY2021–FY2025 | This lender | 504 program |
|---|---|---|
| Median approval | $505K | $657K |
| Average approval | $741K | $1.0M |
| Approvals of $150,000 or less | 15.6% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 21.9% | 14.4% |
| Approvals to franchise businesses | 6.3% | 9.0% |
| Jobs supported per approval, as reported | 17.9 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 3.2% | 1.2% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Iowa | 31 | $23.3M | 96.9% | |
| 2 | Missouri | 1 | — | 3.1% |
In Iowa the lender accounts for 8.5% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (15 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Black Hawk County, IA | 10 | $5.3M | 31.3% | |
| 2 | Scott County, IA | 4 | $2.5M | 12.5% | |
| 3 | Linn County, IA | 3 | $2.0M | 9.4% | |
| 4 | Grundy County, IA | 3 | $392K | 9.4% | |
| 5 | Benton County, IA | 2 | — | 6.3% | |
| 6 | Hardin County, IA | 1 | — | 3.1% | |
| 7 | Dubuque County, IA | 1 | — | 3.1% | |
| 8 | Cerro Gordo County, IA | 1 | — | 3.1% | |
| 9 | Lee County, IA | 1 | — | 3.1% | |
| 10 | Floyd County, IA | 1 | — | 3.1% | |
| 11 | Chickasaw County, IA | 1 | — | 3.1% | |
| 12 | Polk County, IA | 1 | — | 3.1% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Retail Trade | 8 | 25.0% | |
| 2 | Manufacturing | 5 | 15.6% | |
| 3 | Other Services (except Public Administration) | 5 | 15.6% | |
| 4 | Professional, Scientific, and Technical Services | 4 | 12.5% | |
| 5 | Health Care and Social Assistance | 3 | 9.4% | |
| 6 | Arts, Entertainment, and Recreation | 2 | 6.3% | |
| 7 | Real Estate and Rental and Leasing | 2 | 6.3% | |
| 8 | Construction | 2 | 6.3% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Glass and Glass Product ManufacturingNAICS 3272 | 3 | 9.4% | |
| 2 | Offices of DentistsNAICS 6212 | 3 | 9.4% | |
| 3 | Grocery StoresNAICS 4451 | 3 | 9.4% | |
| 4 | Electronic Shopping and Mail-Order HousesNAICS 4541 | 2 | 6.3% | |
| 5 | Automotive Repair and MaintenanceNAICS 8111 | 2 | 6.3% | |
| 6 | Other Amusement and Recreation IndustriesNAICS 7139 | 2 | 6.3% | |
| 7 | Other Personal ServicesNAICS 8129 | 2 | 6.3% | |
| 8 | Management, Scientific, and Technical Consulting ServicesNAICS 5416 | 1 | 3.1% | |
| 9 | Other Motor Vehicle DealersNAICS 4412 | 1 | 3.1% | |
| 10 | Printing and Related Support ActivitiesNAICS 3231 | 1 | 3.1% |
Approval sizes
- $50,001 to $150,00015.6%5
- $150,001 to $350,00021.9%7
- $350,001 to $1 million34.4%11
- $1 million to $2 million21.9%7
- Over $2 million6.3%2
Loan terms
- Over 5 to 10 years6.3%2
- Over 10 to 20 years50.0%16
- Over 20 years43.8%14
Age of the businesses
- Existing, more than 2 years old75.0%24
- New business, 2 years or less18.8%6
- Startup, loan funds will open the business3.1%1
- Change of ownership3.1%1
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 504 Basic | 29 | 90.6% | |
| 2 | 504 Refinancing Program | 3 | 9.4% |
Franchise share
2 of 32 approvals in FY2021–FY2025 (6.3%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Harley Davidson | 1 | 3.1% | |
| 2 | Orion Oil, LLC | 1 | 3.1% |
Questions and answers
How many SBA loans does Black Hawk Economic Development, Inc. make?
SBA approved 5 504 loans through Black Hawk Economic Development, Inc. in FY2025, worth $3.3M, and 32 over FY2021 to FY2025. That ranks 132nd of 182 active CDCs by number of approvals.
How large are Black Hawk Economic Development, Inc.'s typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $505K and the average $741K. The program-wide median was $657K.
What is Black Hawk Economic Development, Inc.'s charge-off rate?
Of 126 disbursed loans approved in FY2010 to FY2021, SBA records 4 as charged off (3.2%), 52 as paid in full and 70 still outstanding; the 504 program figure for the same approval years is 1.2%, so the rate here is above it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Black Hawk Economic Development, Inc. lend to most?
By number of approvals in FY2021 to FY2025: glass and glass product manufacturing (3); offices of dentists (3); grocery stores (3); electronic shopping and mail-order houses (2).
Where does Black Hawk Economic Development, Inc. make SBA loans?
In 2 states and territories. Iowa 31, Missouri 1. In Iowa it accounts for 8.5% of all 504 approvals.
Is Black Hawk Economic Development, Inc.'s SBA lending rising?
Approvals in the three latest complete fiscal years total 11, against 33 in the three before: falling (-67%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
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. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error