SBA Ledger

States › Iowa

State0.7% of US approvals222 lenders active

SBA loans in Iowa

7(a) and 504 approvals by fiscal year, the lenders behind them, and where in the state they went. Pick a fiscal year for that year's lenders and counties.

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 Iowa received 2,248 SBA loan approvals worth $1.07bn in FY2021 to FY2025, 1,884 of them 7(a) loans and 364 504 loans.

That is 27.0 approvals for every 1,000 business establishments in the state, against 41.0 nationally, and 0.7% of all approvals in the country (36th of 54 states and territories).

In FY2025 there were 490 approvals totalling $225M, about level with FY2024. The median 7(a) approval over the five years was $155K and the median 504 approval $517K.

222 lenders had at least one approval in the state; by number of 7(a) approvals the most active were U.S. Bank, National Association (208), Lincoln Savings Bank (114) and Farmers State Bank (99).

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, SBA records 6.9% as charged off, against 6.6% nationally.

490approvals, FY20252,248 in FY2021–FY2025
$225Mapproved, FY2025$1.07bn in FY2021–FY2025
27.0approvals per 1,000 establishments, FY2021–FY2025US: 41.0
$155Kmedian 7(a) approvalUS: $190K
6.9%7(a) loans approved FY2010–FY2021 charged offUS: 6.6%

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.

Most active 7(a) lenders in Iowa

Ranked by number of approvals to businesses in the state, FY2021–FY2025. The column of bars shows each lender's approvals here in every fiscal year; the charged-off column is the lender's nationwide figure.

#LenderApprovals in IA, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1U.S. Bank, National AssociationCincinnati, OH208$14.5M11.0%$45K6.2%
2Lincoln Savings BankReinbeck, IA114$56.6M6.1%$350K5.4%
3Farmers State BankWaterloo, IA99$26.6M5.3%$125K4.1%
4Community 1st CUOttumwa, IA63$7.5M3.3%$63K5.3%
5Nicolet National BankGreen Bay, WI54$17.3M2.9%$312K2.8%
6Northwest BankSpencer, IA52$19.0M2.8%$154K4.7%
7Hills Bank and Trust CompanyHills, IA51$11.4M2.7%$120K2.3%
8The Huntington National BankColumbus, OH49$21.8M2.6%$92K5.7%
9Northeast BankLewiston, ME48$6.6M2.5%$106K12.8%
10Wells Fargo Bank National AssociationSioux Falls, SD47$10.0M2.5%$15K7.9%
11United Bank of IowaIda Grove, IA46$13.4M2.4%$175K12.0%
12Clear Lake Bank & Trust CompanyClear Lake, IA36$11.5M1.9%$149K0.0%
13Newtek Bank, National AssociationMiami, FL34$14.5M1.8%$225K—
14Farmers and Merchants Savings BankManchester, IA34$11.2M1.8%$197K7.7%
15First Mid Bank & Trust, National AssociationMattoon, IL32$14.1M1.7%$230K5.8%
16BayFirst National BankSaint Petersburg, FL31$4.4M1.6%$150K19.2%
17Bank IowaWest Des Moines, IA30$8.2M1.6%$70K—
18City State BankNorwalk, IA29$12.4M1.5%$150K6.5%
19Bankers Trust CompanyDes Moines, IA29$7.2M1.5%$174K4.9%
20TruBankIndianola, IA28$8.9M1.5%$184K11.3%
21Readycap Lending, LLCBerkeley Heights, NJ27$15.9M1.4%$138K4.3%
22Citizens First BankClinton, IA27$4.3M1.4%$151K16.1%
23Cedar Rapids Bank and Trust CompanyCedar Rapids, IA24$16.0M1.3%$225K3.5%
24Newtek Small Business Finance, Inc.Lake Success, NY23$17.5M1.2%$300K6.8%
25First Interstate BankBillings, MT23$12.5M1.2%$222K5.7%
26Live Oak Banking CompanyWilmington, NC20$24.6M1.1%$850K2.2%
27United Midwest Savings Bank National AssociationDe Graff, OH20$7.2M1.1%$150K15.9%
28First BankWaverly, IA17$8.0M0.9%$250K2.1%
29Farmers State BankMarion, IA15$4.0M0.8%$220K8.0%
30Fairfax State Savings BankFairfax, IA15$3.1M0.8%$115K—
31NSB BankMason City, IA13$9.1M0.7%$201K5.2%
32Raccoon Valley BankPerry, IA13$7.9M0.7%$337K—
33Lendistry SBLC, LLCLos Angeles, CA13$3.1M0.7%$150K22.7%
34Byline BankChicago, IL12$11.8M0.6%$806K9.5%
35Celtic Bank CorporationSalt Lake City, UT12$8.9M0.6%$150K17.0%
36First National BankOldham, SD11$3.4M0.6%$89K7.1%
37Bank MidwestSpirit Lake, IA11$2.2M0.6%$114K0.0%
38Community Savings BankEdgewood, IA10$11.0M0.5%$600K4.3%
39CBI Bank and TrustMuscatine, IA10$8.2M0.5%$315K12.5%
40First Citizens BankMason City, IA10$2.1M0.5%$95K3.4%

504 certified development companies

#LenderApprovals in IA, FY2021–25DollarsShareMedian approval, all statesFY2016–26Charged off, FY2010–21 loans
1Iowa Business Growth CompanyJohnston, IA · 504 CDC160$122M44.0%$469K2.0%
2Siouxland Economic Development CorporationSioux City, IA · 504 CDC57$42.9M15.7%$618K0.5%
3Dakota Business FinanceSioux Falls, SD · 504 CDC34$33.6M9.3%$466K1.1%
4Black Hawk Economic Development, Inc.Waterloo, IA · 504 CDC31$23.3M8.5%$505K3.2%
5Pivotal Business PartnersDes Moines, IA · 504 CDC28$27.7M7.7%$682K0.0%
6E.C.I.A. Business Growth, Inc.Dubuque, IA · 504 CDC27$24.9M7.4%$548K0.0%
7Small Business Growth CorporationSpringfield, IL · 504 CDC18$17.3M4.9%$609K1.4%
8Midwest Business Finance CorporationSt. Cloud, MN · 504 CDC4$965K1.1%$506K1.2%
9Mortgage Capital Development CorporationOakland, CA · 504 CDC3$7.2M0.8%$913K0.3%
10South Dakota Development CorporationSioux Falls, SD · 504 CDC1—0.3%$664K6.1%
11Nebraska Economic Development CorporationLincoln, NE · 504 CDC1—0.3%$626K0.9%

Fiscal-year ledger

Fiscal year7(a) approvals7(a) dollarsMedian 7(a)504 approvals504 dollarsAll approvalsJobs supported, as reported
FY2026*222$117M$213K46$38.4M2683,277
FY2025429$179M$150K61$46.3M4904,502
FY2024421$146M$150K55$49.9M4764,436
FY2023296$99.1M$150K44$40.2M3403,507
FY2022357$143M$200K109$99.8M4665,071
FY2021381$197M$204K95$65.9M4765,668
FY2020354$175M$172K75$58.8M4295,523
FY2019359$127M$150K46$40.6M4054,441
FY2018349$136M$150K56$33.9M4053,903
FY2017390$125M$128K64$30.3M4544,031
FY2016421$146M$150K62$51.6M4835,902

7(a) approvals504 approvals

919293949596979899000102030405060708091011121314151617181920212223242526
SBA approvals in Iowa by fiscal year, FY1991 to FY2026.

Counties

Approvals in FY2021–FY2025 set against the Census Bureau's count of business establishments. Counties with at least 30 approvals have their own page.

#CountyApprovalsDollarsEstablishmentsPer 1,000 establishmentsBy fiscal year
1Polk County535$254M13,89038.5
2Linn County196$112M5,74434.1
3Scott County117$61.6M4,52525.9
4Black Hawk County109$42.6M3,10535.1
5Dallas County99$50.5M2,52139.3
6Johnson County93$39.2M3,49026.6
7Warren County70$34.3M1,02068.6
8Story County65$22.1M2,16230.1
9Dubuque County60$24.6M2,80421.4
10Cerro Gordo County51$20.6M1,35737.6
11Clinton County46$25.2M1,12241.0
12Woodbury County42$20.1M2,62216.0
13Pottawattamie County42$23.6M1,92021.9
14Dickinson County34$15.0M78443.4
15Jasper County31$16.8M76740.4
16Wapello County27$10.4M69938.6
17Bremer County24$6.4M55243.5
18Appanoose County23$6.0M30276.2
19Ida County23$4.4M24494.3
20Muscatine County22$8.3M94923.2
21Lyon County21$13.6M40252.2
22Sioux County21$17.2M1,34515.6
23Marion County21$6.0M85924.4
24Boone County16$5.2M60326.5
25Benton County15$9.6M53528.0
26Clay County14$5.0M57024.6
27Washington County14$5.8M68720.4
28Webster County13$5.1M99713.0
29Chickasaw County13$3.2M35336.8
30Cedar County13$2.3M46028.3
31Iowa County12$3.9M45926.1
32Grundy County12$4.1M29940.1
33Guthrie County12$2.6M31338.3
34Hancock County11$4.7M30236.4
35Delaware County11$6.0M52221.1
36Crawford County11$2.0M41526.5
37Jefferson County10$2.2M60816.4
38Fayette County10$2.8M52419.1
39Poweshiek County10$1.3M57117.5
40Jones County10$8.9M51419.5
41Henry County10$6.3M48220.7
42Des Moines County10$7.7M1,0659.4
43Buchanan County9$2.4M49018.4
44Plymouth County9$4.1M66713.5
45Floyd County9$2.2M37124.3
46Humboldt County9$6.2M30529.5
47Madison County8$4.6M43518.4
48Mills County8$2.1M33124.2
49Mahaska County8$1.4M53814.9
50Hardin County7$7.4M49914.0
51Davis County7$4.2M17939.1
52Mitchell County7$3.1M30223.2
53Jackson County6$3.2M51511.7
54Hamilton County6$5.8M36716.3
55Marshall County6$2.6M7867.6
56Winneshiek County6$4.6M6049.9
57Kossuth County6$1.8M53611.2
58Clayton County6$4.0M48712.3
59O'Brien County6$4.3M48812.3
60Pocahontas County6$7.1M20030.0
61Keokuk County6$1.0M23625.4
62Palo Alto County6$1.5M27222.1
63Ringgold County6$1.9M13145.8
64Emmet County5$3.7M26818.7
65Calhoun County5$1.8M28017.9
66Lee County5$3.0M7866.4
67Monroe County5$3.3M18327.3
68Carroll County5$4.2M8276.0
69Butler County5$960K32415.4
70Van Buren County5$7.2M14933.6
71Montgomery County5$2.0M29417.0
72Cherokee County4$1.6M34011.8
73Tama County4$1.4M28214.2
74Page County4$4.9M4049.9
75Union County4$1.7M30513.1
76Taylor County3$990K14021.4
77Sac County3$2.5M3219.3
78Franklin County3$3.8M28510.5
79Wright County3$696K3588.4
80Shelby County3$710K3847.8
81Winnebago County3$1.7M30010.0
82Harrison County3$411K3388.9
83Greene County3$2.6M25211.9
84Fremont County3$924K19015.8
85Worth County3$1.5M16318.4
86Monona County2—2288.8
87Buena Vista County2—4914.1
88Clarke County2—18810.6
89Louisa County2—2119.5
90Decatur County2—14613.7
91Adair County2—2089.6
92Wayne County2—14314.0
93Allamakee County1—3652.7
94Howard County1—2703.7

Industries

#Industry group (NAICS 4-digit)ApprovalsDollarsShare
1Restaurants and Other Eating PlacesNAICS 7225255$102M11.3%
2Automotive Repair and MaintenanceNAICS 8111103$33.9M4.6%
3Offices of Other Health PractitionersNAICS 621396$23.1M4.3%
4Other Amusement and Recreation IndustriesNAICS 713990$33.1M4.0%
5Personal Care ServicesNAICS 812170$15.2M3.1%
6Services to Buildings and DwellingsNAICS 561768$18.7M3.0%
7Traveler AccommodationNAICS 721160$94.9M2.7%
8Building Equipment ContractorsNAICS 238251$14.4M2.3%
9General Freight TruckingNAICS 484148$18.0M2.1%
10Residential Building ConstructionNAICS 236148$9.8M2.1%
11Other Personal ServicesNAICS 812947$18.6M2.1%
12Other Specialty Trade ContractorsNAICS 238946$21.6M2.0%
13Building Finishing ContractorsNAICS 238342$8.9M1.9%
14Other Professional, Scientific, and Technical ServicesNAICS 541939$19.1M1.7%
15Foundation, Structure, and Building Exterior ContractorsNAICS 238137$11.3M1.6%

Sectors

#NAICS sectorApprovalsShare
1Accommodation and Food Services36216.1%
2Retail Trade28712.8%
3Other Services (except Public Administration)25611.4%
4Construction25511.3%
5Health Care and Social Assistance2018.9%
6Manufacturing1687.5%
7Professional, Scientific, and Technical Services1396.2%
8Administrative and Support and Waste Management and Remediation Services1195.3%
9Arts, Entertainment, and Recreation1034.6%
10Transportation and Warehousing934.1%

Franchise brands

#BrandApprovalsShare
1Super 8 by Wyndhan130.6%
2Hotworx110.5%
3Scooter's Coffee100.4%
4Pizza Ranch100.4%
5Domino's Pizza80.4%
6Subway60.3%
7Units50.2%
8Popeyes Louisiana Kitchen50.2%
9Anytime Fitness50.2%
10AmericInn by Wyndham40.2%

How earlier loans turned out

Iowa, 7(a)6.9%
United States, 7(a)6.6%
Iowa, 5041.5%
United States, 5041.2%
Share of disbursed loans approved FY2010–FY2021 that SBA records as charged off, by program.
Loans approved FY2010–FY2021IA 7(a)US 7(a)IA 504US 504
Approvals in these years5,075639,90595485,591
Cancelled or never disbursed55479,31313412,514
Disbursed loans4,521560,59282073,077
Paid in full3,576435,81341535,491
Charged off31436,89112905
Still outstanding (status exempt from disclosure)63187,88839336,681
Charged off, share of disbursed loans6.9%6.6%1.5%1.2%
Dollars charged off, share of disbursed dollars3.9%2.5%1.1%0.9%
Dollars charged off$66.2M$5.70bn$5.5M$499M

Approval sizes

Age of the businesses

Against the country

FY2021–FY2025IowaUnited States
Approvals per 1,000 establishments27.041.0
Median 7(a) approval$155K$190K
Median 504 approval$517K$657K
504 share of approvals16.2%11.0%
Jobs supported per approval, as reported10.310.5
Approvals, change on FY2016–FY20203%10%

Questions and answers

Which lenders make the most SBA loans in Iowa?

By 7(a) approvals in FY2021 to FY2025: U.S. Bank, National Association (208), Lincoln Savings Bank (114), Farmers State Bank (99), Community 1st CU (63), Nicolet National Bank (54). For 504 loans: Iowa Business Growth Company (160), Siouxland Economic Development Corporation (57), Dakota Business Finance (34). Volume says how active a lender is, nothing about terms or service.

How large are typical SBA loans in Iowa?

The median 7(a) approval was $155K and the median 504 approval $517K; the average across both programs was $474K.

Which industries get the most SBA loans in Iowa?

Restaurants and Other Eating Places (255); Automotive Repair and Maintenance (103); Offices of Other Health Practitioners (96); Other Amusement and Recreation Industries (90); Personal Care Services (70).

Which Iowa counties receive the most SBA loans?

Polk County (535), Linn County (196), Scott County (117), Black Hawk County (109), Dallas County (99), by approvals in FY2021 to FY2025.

Is SBA lending in Iowa rising?

Approvals in the three latest complete fiscal years total 1,306, against 1,371 in the three before: broadly level (-5%).

What share of SBA loans in Iowa are charged off?

Of 7(a) loans approved in FY2010 to FY2021 and disbursed, 6.9% are recorded as charged off (national: 6.6%); for 504 loans the figure is 1.5% (national: 1.2%). Newer loans are left out because most have not had time to reach either outcome.

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