FY20191 Oct 2018 – 30 Sep 2019
SBA loans in Iowa, FY2019
That fiscal year's approvals by lender and by county.
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.
In FY2019 (1 October 2018 to 30 September 2019) SBA approved 405 loans in Iowa: 359 under 7(a) and 46 under 504, worth $168M.
That is about level with FY2018, when there were 405 approvals worth $170M.
Iowa accounted for 0.7% of the 58,006 approvals nationwide that year. 101 lenders had at least one approval in the state; U.S. Bank, National Association had the most, 47.
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.
Approvals by lender
The 40 lenders with the most approvals to Iowa businesses in FY2019, of 101 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2018 | Change |
|---|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | 7(a) | 47 | $3.0M | 11.6% | 20 | +27 |
| 2 | Wells Fargo Bank National Association | 7(a) | 34 | $7.6M | 8.4% | 24 | +10 |
| 3 | Siouxland Economic Development Corporation | 504 | 17 | $18.9M | 4.2% | 14 | +3 |
| 4 | Northwest Bank | 7(a) | 17 | $5.8M | 4.2% | 16 | +1 |
| 5 | Cedar Rapids Bank and Trust Company | 7(a) | 15 | $8.0M | 3.7% | 11 | +4 |
| 6 | Iowa Business Growth Company | 504 | 12 | $15.8M | 3.0% | 24 | -12 |
| 7 | Bankers Trust Company | 7(a) | 12 | $3.2M | 3.0% | 19 | -7 |
| 8 | Community 1st CU | 7(a) | 10 | $529K | 2.5% | 11 | -1 |
| 9 | Newtek Small Business Finance, Inc. | 7(a) | 9 | $3.6M | 2.2% | 3 | +6 |
| 10 | Lincoln Savings Bank | 7(a) | 8 | $6.5M | 2.0% | 6 | +2 |
| 11 | Farmers and Merchants Savings Bank | 7(a) | 8 | $3.5M | 2.0% | 7 | +1 |
| 12 | First Bank | 7(a) | 8 | $1.7M | 2.0% | 7 | +1 |
| 13 | Byline Bank | 7(a) | 7 | $13.5M | 1.7% | 5 | +2 |
| 14 | IH Mississippi Valley Credit Union | 7(a) | 7 | $1.4M | 1.7% | 1 | +6 |
| 15 | First Citizens Bank | 7(a) | 7 | $777K | 1.7% | 5 | +2 |
| 16 | BayFirst National Bank | 7(a) | 6 | $1.6M | 1.5% | 4 | +2 |
| 17 | Farmers State Bank | 7(a) | 6 | $1.3M | 1.5% | 13 | -7 |
| 18 | Black Hawk Economic Development, Inc. | 504 | 6 | $1.2M | 1.5% | 9 | -3 |
| 19 | United Midwest Savings Bank National Association | 7(a) | 6 | $1.1M | 1.5% | 5 | +1 |
| 20 | Stearns Bank National Association | 7(a) | 6 | $337K | 1.5% | 7 | -1 |
| 21 | Celtic Bank Corporation | 7(a) | 5 | $4.3M | 1.2% | 5 | 0 |
| 22 | TruBank | 7(a) | 5 | $1.9M | 1.2% | 6 | -1 |
| 23 | Central Bank | 7(a) | 5 | $1.6M | 1.2% | 1 | +4 |
| 24 | BMO Bank National Association | 7(a) | 5 | $1.1M | 1.2% | 12 | -7 |
| 25 | Farmers State Bank | 7(a) | 5 | $1.0M | 1.2% | 9 | -4 |
| 26 | Raccoon Valley Bank | 7(a) | 5 | $736K | 1.2% | 1 | +4 |
| 27 | Midwest Heritage Bank, F.S.B. | 7(a) | 5 | $601K | 1.2% | 4 | +1 |
| 28 | Independence Bank | 7(a) | 5 | $595K | 1.2% | 5 | 0 |
| 29 | E.C.I.A. Business Growth, Inc. | 504 | 4 | $2.2M | 1.0% | 3 | +1 |
| 30 | Nicolet National Bank | 7(a) | 4 | $1.4M | 1.0% | 3 | +1 |
| 31 | First National Bank Ames, Iowa | 7(a) | 4 | $1.2M | 1.0% | 3 | +1 |
| 32 | Clear Lake Bank & Trust Company | 7(a) | 4 | $212K | 1.0% | 3 | +1 |
| 33 | Live Oak Banking Company | 7(a) | 3 | $6.9M | 0.7% | 8 | -5 |
| 34 | First National Bank | 7(a) | 3 | $1.8M | 0.7% | 0 | new |
| 35 | Dakota Business Finance | 504 | 3 | $809K | 0.7% | 2 | +1 |
| 36 | Community Savings Bank | 7(a) | 3 | $725K | 0.7% | 2 | +1 |
| 37 | American State Bank | 7(a) | 3 | $603K | 0.7% | 2 | +1 |
| 38 | Quad City Bank and Trust Company | 7(a) | 3 | $542K | 0.7% | 6 | -3 |
| 39 | Hills Bank and Trust Company | 7(a) | 3 | $132K | 0.7% | 1 | +2 |
| 40 | NSB Bank | 7(a) | 2 | — | 0.5% | 4 | -2 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2018 | Change |
|---|---|---|---|---|---|---|
| 1 | Polk County | 91 | $45.7M | 22.5% | 85 | +6 |
| 2 | Linn County | 46 | $18.5M | 11.4% | 35 | +11 |
| 3 | Scott County | 22 | $7.3M | 5.4% | 19 | +3 |
| 4 | Black Hawk County | 19 | $4.6M | 4.7% | 28 | -9 |
| 5 | Johnson County | 17 | $4.7M | 4.2% | 21 | -4 |
| 6 | Dallas County | 16 | $9.9M | 4.0% | 18 | -2 |
| 7 | Cerro Gordo County | 10 | $2.6M | 2.5% | 13 | -3 |
| 8 | Dickinson County | 10 | $1.8M | 2.5% | 5 | +5 |
| 9 | Woodbury County | 9 | $8.3M | 2.2% | 4 | +5 |
| 10 | Warren County | 9 | $3.5M | 2.2% | 10 | -1 |
| 11 | Story County | 8 | $1.6M | 2.0% | 9 | -1 |
| 12 | Marion County | 7 | $359K | 1.7% | 3 | +4 |
| 13 | Bremer County | 6 | $852K | 1.5% | 2 | +4 |
| 14 | Buena Vista County | 6 | $1.9M | 1.5% | 1 | +5 |
| 15 | Dubuque County | 5 | $2.4M | 1.2% | 10 | -5 |
| 16 | Pottawattamie County | 5 | $380K | 1.2% | 15 | -10 |
| 17 | Boone County | 4 | $315K | 1.0% | 3 | +1 |
| 18 | Henry County | 4 | $4.5M | 1.0% | 1 | +3 |
| 19 | Clarke County | 4 | $2.3M | 1.0% | 4 | 0 |
| 20 | Floyd County | 4 | $1.9M | 1.0% | 1 | +3 |
| 21 | Ringgold County | 4 | $147K | 1.0% | 1 | +3 |
| 22 | Plymouth County | 3 | $5.0M | 0.7% | 1 | +2 |
| 23 | Webster County | 3 | $1.3M | 0.7% | 6 | -3 |
| 24 | Clinton County | 3 | $524K | 0.7% | 1 | +2 |
| 25 | Marshall County | 3 | $1.7M | 0.7% | 3 | 0 |
| 26 | Shelby County | 3 | $825K | 0.7% | 2 | +1 |
| 27 | Kossuth County | 3 | $329K | 0.7% | 0 | new |
| 28 | Madison County | 3 | $512K | 0.7% | 3 | 0 |
| 29 | Washington County | 3 | $572K | 0.7% | 3 | 0 |
| 30 | Mills County | 3 | $678K | 0.7% | 0 | new |
| 31 | Carroll County | 3 | $1.1M | 0.7% | 4 | -1 |
| 32 | Van Buren County | 3 | $190K | 0.7% | 0 | new |
| 33 | Jasper County | 2 | — | 0.5% | 0 | new |
| 34 | Fayette County | 2 | — | 0.5% | 0 | new |
| 35 | Wapello County | 2 | — | 0.5% | 5 | -3 |
| 36 | Clay County | 2 | — | 0.5% | 8 | -6 |
| 37 | Sac County | 2 | — | 0.5% | 0 | new |
| 38 | Sioux County | 2 | — | 0.5% | 5 | -3 |
| 39 | Poweshiek County | 2 | — | 0.5% | 3 | -1 |
| 40 | Winneshiek County | 2 | — | 0.5% | 0 | new |
The 40 counties with the most approvals; every county is on the Iowa page.
FY2019 against FY2018
| Iowa | FY2019 | FY2018 |
|---|---|---|
| 7(a) approvals | 359 | 349 |
| 7(a) dollars | $127M | $136M |
| Median 7(a) approval | $150K | $150K |
| 504 approvals | 46 | 56 |
| 504 dollars | $40.6M | $33.9M |
| Jobs supported, as reported | 4,441 | 3,903 |
Questions and answers
Which lenders made the most SBA loans in Iowa in FY2019?
U.S. Bank, National Association (47), Wells Fargo Bank National Association (34), Siouxland Economic Development Corporation (17), Northwest Bank (17), Cedar Rapids Bank and Trust Company (15). 101 lenders had at least one approval.
How many SBA loans were approved in Iowa in FY2019?
405: 359 under 7(a) worth $127M and 46 under 504 worth $40.6M.
Which Iowa counties had the most SBA approvals in FY2019?
Polk County (91), Linn County (46), Scott County (22), Black Hawk County (19), Johnson County (17).
When does FY2019 start and end?
The federal fiscal year 2019 runs from 1 October 2018 to 30 September 2019.
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