Lenders › Iowa Business Growth Company
504 CDCJohnston, Iowacertified development company54th of 182 by approvals
Iowa Business Growth Company
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.
Iowa Business Growth Company (Johnston, Iowa) is a certified development company (CDC) that makes SBA 504 loans, 54th of 182 by approvals in FY2021 to FY2025: 161 loans worth $123M.
In FY2025, the latest complete fiscal year, it had 28 approvals totalling $19.6M, up 75% on FY2024 (16). FY2026 to 30 Jun 2026 adds 12 more.
The median approval was $469K, against $657K for the 504 program as a whole; 7.5% of its approvals were for $150,000 or less (program: 4.6%).
Its loans went to businesses in 2 states and territories and 29 counties, led by Iowa (99.4%) and Illinois (0.6%). The largest industry group was accommodation and food services at 20.5% of approvals, and 20.5% of approvals were to franchise businesses.
Of 342 disbursed loans approved in FY2010 to FY2021, SBA records 7 as charged off (2.0%), 179 as paid in full and 156 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* | 12 | $10.0M | $506K | $836K | 191 |
| FY2025 | 28 | $19.6M | $378K | $701K | 180 |
| FY2024 | 16 | $16.6M | $774K | $1.0M | 151 |
| FY2023 | 23 | $15.3M | $428K | $664K | 137 |
| FY2022 | 47 | $35.6M | $519K | $757K | 434 |
| FY2021 | 47 | $36.1M | $409K | $768K | 438 |
| FY2020 | 34 | $34.8M | $760K | $1.0M | 237 |
| FY2019 | 12 | $15.8M | $603K | $1.3M | 138 |
| FY2018 | 24 | $12.5M | $389K | $520K | 314 |
| FY2017 | 25 | $12.5M | $413K | $500K | 260 |
| FY2016 | 19 | $12.3M | $375K | $645K | 264 |
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 114 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 | 383 | 954 | 85,591 |
| Cancelled or never disbursed | 41 | 134 | 12,514 |
| Disbursed loans | 342 | 820 | 73,077 |
| Paid in full | 179 | 415 | 35,491 |
| Charged off | 7 | 12 | 905 |
| Still outstanding (status exempt from disclosure) | 156 | 393 | 36,681 |
| Charged off, share of disbursed loans | 2.0% | 1.5% | 1.2% |
| Dollars charged off, share of disbursed dollars | 2.2% | 1.1% | 0.9% |
| Dollars charged off | $4.5M | $5.5M | $499M |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 504 program, same year |
|---|---|---|---|---|---|
| FY2021 | 40 | 9 | 0 | 0.0% | 0.1% |
| FY2020 | 30 | 2 | 3 | 10.0% | 0.1% |
| FY2019 | 10 | 4 | 0 | — | 0.3% |
| FY2018 | 21 | 8 | 0 | — | 0.4% |
| FY2017 | 22 | 6 | 0 | — | 0.8% |
| FY2016 | 18 | 5 | 0 | — | 1.0% |
| FY2015 | 25 | 14 | 0 | — | 1.2% |
| FY2014 | 25 | 18 | 1 | — | 1.3% |
| FY2013 | 28 | 18 | 1 | — | 1.4% |
| FY2012 | 40 | 27 | 2 | 5.0% | 2.0% |
| FY2011 | 44 | 37 | 0 | 0.0% | 2.1% |
| FY2010 | 39 | 31 | 0 | 0.0% | 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 | $469K | $657K |
| Average approval | $765K | $1.0M |
| Approvals of $150,000 or less | 7.5% | 4.6% |
| Approvals to startups and businesses 2 years old or less | 21.1% | 14.4% |
| Approvals to franchise businesses | 20.5% | 9.0% |
| Jobs supported per approval, as reported | 8.3 | 10.1 |
| Charged off, loans approved FY2010–FY2021 | 2.0% | 1.2% |
States served
| # | State of the business (2 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Iowa | 160 | $122M | 99.4% | |
| 2 | Illinois | 1 | — | 0.6% |
In Iowa the lender accounts for 44.0% of all 504 approvals in FY2021–FY2025.
Counties served
| # | County of the business (29 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Polk County, IA | 48 | $44.3M | 29.8% | |
| 2 | Linn County, IA | 21 | $11.5M | 13.0% | |
| 3 | Dallas County, IA | 13 | $12.9M | 8.1% | |
| 4 | Johnson County, IA | 11 | $11.8M | 6.8% | |
| 5 | Story County, IA | 11 | $6.7M | 6.8% | |
| 6 | Warren County, IA | 10 | $6.9M | 6.2% | |
| 7 | Pottawattamie County, IA | 8 | $3.0M | 5.0% | |
| 8 | Scott County, IA | 5 | $3.6M | 3.1% | |
| 9 | Fayette County, IA | 4 | $1.8M | 2.5% | |
| 10 | Dubuque County, IA | 3 | $5.4M | 1.9% | |
| 11 | Webster County, IA | 3 | $1.9M | 1.9% | |
| 12 | Clinton County, IA | 2 | — | 1.2% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Accommodation and Food Services | 33 | 20.5% | |
| 2 | Health Care and Social Assistance | 21 | 13.0% | |
| 3 | Construction | 18 | 11.2% | |
| 4 | Other Services (except Public Administration) | 17 | 10.6% | |
| 5 | Professional, Scientific, and Technical Services | 13 | 8.1% | |
| 6 | Retail Trade | 10 | 6.2% | |
| 7 | Manufacturing | 10 | 6.2% | |
| 8 | Wholesale Trade | 8 | 5.0% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Restaurants and Other Eating PlacesNAICS 7225 | 19 | 11.8% | |
| 2 | Automotive Repair and MaintenanceNAICS 8111 | 12 | 7.5% | |
| 3 | Traveler AccommodationNAICS 7211 | 11 | 6.8% | |
| 4 | Offices of DentistsNAICS 6212 | 8 | 5.0% | |
| 5 | Building Equipment ContractorsNAICS 2382 | 8 | 5.0% | |
| 6 | Offices of Other Health PractitionersNAICS 6213 | 6 | 3.7% | |
| 7 | Other Amusement and Recreation IndustriesNAICS 7139 | 6 | 3.7% | |
| 8 | Child Day Care ServicesNAICS 6244 | 5 | 3.1% | |
| 9 | General Freight TruckingNAICS 4841 | 4 | 2.5% | |
| 10 | Lessors of Real EstateNAICS 5311 | 4 | 2.5% |
Approval sizes
- $50,001 to $150,0007.5%12
- $150,001 to $350,00026.7%43
- $350,001 to $1 million44.7%72
- $1 million to $2 million13.7%22
- Over $2 million7.5%12
Loan terms
- Over 5 to 10 years1.9%3
- Over 10 to 20 years19.3%31
- Over 20 years78.9%127
Age of the businesses
- Existing, more than 2 years old77.0%124
- New business, 2 years or less3.7%6
- Startup, loan funds will open the business17.4%28
- Change of ownership1.9%3
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | 504 Basic | 117 | 72.7% | |
| 2 | Accredited Lenders Program | 34 | 21.1% | |
| 3 | 504 Refinancing Program | 9 | 5.6% | |
| 4 | ALP Express | 1 | 0.6% |
Franchise share
33 of 161 approvals in FY2021–FY2025 (20.5%) carried an SBA franchise code; across the 504 program the share is 9.0%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Popeyes Louisiana Kitchen | 5 | 3.1% | |
| 2 | Pizza Ranch | 4 | 2.5% | |
| 3 | Best Western | 2 | 1.2% | |
| 4 | Steak n Shake By Biglari | 2 | 1.2% | |
| 5 | Boarders Inn & Suites by Cobblestone | 2 | 1.2% | |
| 6 | Subway | 2 | 1.2% | |
| 7 | Starz Program | 1 | 0.6% | |
| 8 | SpringHill Suites by Marriott | 1 | 0.6% |
Third-party lenders in its 504 projects
A 504 project pairs the CDC's loan with a larger loan from a bank or other lender. Banks and credit unions named on five or more of this CDC's projects in FY2021–FY2025:
| # | Third-party lender | Projects | Share | |
|---|---|---|---|---|
| 1 | Northwest Bank | 16 | 9.9% | |
| 2 | City State Bank | 13 | 8.1% | |
| 3 | Farmers State Bank | 11 | 6.8% | |
| 4 | Bank Iowa | 11 | 6.8% | |
| 5 | Live Oak Banking Company | 5 | 3.1% | |
| 6 | Hills Bank and Trust Company | 5 | 3.1% |
Questions and answers
How many SBA loans does Iowa Business Growth Company make?
SBA approved 28 504 loans through Iowa Business Growth Company in FY2025, worth $19.6M, and 161 over FY2021 to FY2025. That ranks 54th of 182 active CDCs by number of approvals.
How large are Iowa Business Growth Company's typical SBA loans?
The median 504 approval in FY2021 to FY2025 was $469K and the average $765K. The program-wide median was $657K.
What is Iowa Business Growth Company's charge-off rate?
Of 342 disbursed loans approved in FY2010 to FY2021, SBA records 7 as charged off (2.0%), 179 as paid in full and 156 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 Iowa Business Growth Company lend to most?
By number of approvals in FY2021 to FY2025: restaurants and other eating places (19); automotive repair and maintenance (12); traveler accommodation (11); offices of dentists (8).
Where does Iowa Business Growth Company make SBA loans?
In 2 states and territories. Iowa 160, Illinois 1. In Iowa it accounts for 44.0% of all 504 approvals.
Is Iowa Business Growth Company's SBA lending rising?
Approvals in the three latest complete fiscal years total 67, against 128 in the three before: falling (-48%).
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