FY20201 Oct 2019 – 30 Sep 2020
SBA loans in Iowa, FY2020
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 FY2020 (1 October 2019 to 30 September 2020) SBA approved 429 loans in Iowa: 354 under 7(a) and 75 under 504, worth $234M.
That is about level with FY2019, when there were 405 approvals worth $168M.
Iowa accounted for 0.9% of the 49,417 approvals nationwide that year. 104 lenders had at least one approval in the state; U.S. Bank, National Association had the most, 38.
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 FY2020, of 104 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | 7(a) | 38 | $1.5M | 8.9% | 47 | -9 |
| 2 | Iowa Business Growth Company | 504 | 33 | $32.5M | 7.7% | 12 | +21 |
| 3 | Lincoln Savings Bank | 7(a) | 29 | $14.8M | 6.8% | 8 | +21 |
| 4 | Farmers and Merchants Savings Bank | 7(a) | 22 | $23.1M | 5.1% | 8 | +14 |
| 5 | Siouxland Economic Development Corporation | 504 | 16 | $11.6M | 3.7% | 17 | -1 |
| 6 | Community 1st CU | 7(a) | 16 | $2.9M | 3.7% | 10 | +6 |
| 7 | Northwest Bank | 7(a) | 13 | $3.7M | 3.0% | 17 | -4 |
| 8 | Black Hawk Economic Development, Inc. | 504 | 12 | $6.1M | 2.8% | 6 | +6 |
| 9 | Bankers Trust Company | 7(a) | 11 | $4.2M | 2.6% | 12 | -1 |
| 10 | Farmers State Bank | 7(a) | 10 | $3.3M | 2.3% | 6 | +4 |
| 11 | United Midwest Savings Bank National Association | 7(a) | 9 | $1.1M | 2.1% | 6 | +3 |
| 12 | First Mid Bank & Trust, National Association | 7(a) | 8 | $2.9M | 1.9% | 1 | +7 |
| 13 | Wells Fargo Bank National Association | 7(a) | 7 | $685K | 1.6% | 34 | -27 |
| 14 | E.C.I.A. Business Growth, Inc. | 504 | 6 | $4.3M | 1.4% | 4 | +2 |
| 15 | IH Mississippi Valley Credit Union | 7(a) | 6 | $3.7M | 1.4% | 7 | -1 |
| 16 | First Interstate Bank | 7(a) | 6 | $3.3M | 1.4% | 1 | +5 |
| 17 | City State Bank | 7(a) | 5 | $5.8M | 1.2% | 1 | +4 |
| 18 | Byline Bank | 7(a) | 5 | $5.1M | 1.2% | 7 | -2 |
| 19 | Community Savings Bank | 7(a) | 5 | $3.2M | 1.2% | 3 | +2 |
| 20 | United Community Bank | 7(a) | 5 | $2.9M | 1.2% | 2 | +3 |
| 21 | Central Bank | 7(a) | 5 | $2.6M | 1.2% | 5 | 0 |
| 22 | Quad City Bank and Trust Company | 7(a) | 5 | $1.1M | 1.2% | 3 | +2 |
| 23 | United Bank of Iowa | 7(a) | 5 | $687K | 1.2% | 2 | +3 |
| 24 | Celtic Bank Corporation | 7(a) | 4 | $5.6M | 0.9% | 5 | -1 |
| 25 | Midstates Bank, National Association | 7(a) | 4 | $2.8M | 0.9% | 0 | new |
| 26 | Dakota Business Finance | 504 | 4 | $2.6M | 0.9% | 3 | +1 |
| 27 | Stearns Bank National Association | 7(a) | 4 | $2.6M | 0.9% | 6 | -2 |
| 28 | Five Star Bank | 7(a) | 4 | $990K | 0.9% | 1 | +3 |
| 29 | Collins Community Credit Union | 7(a) | 4 | $928K | 0.9% | 2 | +2 |
| 30 | Hills Bank and Trust Company | 7(a) | 4 | $312K | 0.9% | 3 | +1 |
| 31 | Clear Lake Bank & Trust Company | 7(a) | 4 | $285K | 0.9% | 4 | 0 |
| 32 | The Clinton National Bank | 7(a) | 4 | $240K | 0.9% | 1 | +3 |
| 33 | Cedar Rapids Bank and Trust Company | 7(a) | 3 | $3.1M | 0.7% | 15 | -12 |
| 34 | First Citizens Bank | 7(a) | 3 | $2.0M | 0.7% | 7 | -4 |
| 35 | TruBank | 7(a) | 3 | $1.9M | 0.7% | 5 | -2 |
| 36 | Midwest Heritage Bank, F.S.B. | 7(a) | 3 | $1.6M | 0.7% | 5 | -2 |
| 37 | Pivotal Business Partners | 504 | 3 | $1.2M | 0.7% | 1 | +2 |
| 38 | First National Bank | 7(a) | 3 | $931K | 0.7% | 3 | 0 |
| 39 | The Huntington National Bank | 7(a) | 3 | $615K | 0.7% | 2 | +1 |
| 40 | First Bank | 7(a) | 3 | $450K | 0.7% | 8 | -5 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2019 | Change |
|---|---|---|---|---|---|---|
| 1 | Polk County | 106 | $67.8M | 24.7% | 91 | +15 |
| 2 | Linn County | 50 | $41.1M | 11.7% | 46 | +4 |
| 3 | Scott County | 26 | $14.9M | 6.1% | 22 | +4 |
| 4 | Dallas County | 22 | $11.6M | 5.1% | 16 | +6 |
| 5 | Black Hawk County | 22 | $6.3M | 5.1% | 19 | +3 |
| 6 | Woodbury County | 16 | $9.1M | 3.7% | 9 | +7 |
| 7 | Johnson County | 15 | $5.0M | 3.5% | 17 | -2 |
| 8 | Boone County | 9 | $5.8M | 2.1% | 4 | +5 |
| 9 | Dubuque County | 8 | $7.4M | 1.9% | 5 | +3 |
| 10 | Pottawattamie County | 8 | $2.4M | 1.9% | 5 | +3 |
| 11 | Clinton County | 7 | $5.4M | 1.6% | 3 | +4 |
| 12 | Warren County | 6 | $2.9M | 1.4% | 9 | -3 |
| 13 | Story County | 6 | $3.3M | 1.4% | 8 | -2 |
| 14 | Dickinson County | 6 | $2.2M | 1.4% | 10 | -4 |
| 15 | Cedar County | 6 | $2.9M | 1.4% | 1 | +5 |
| 16 | Tama County | 6 | $2.1M | 1.4% | 1 | +5 |
| 17 | Keokuk County | 6 | $755K | 1.4% | 1 | +5 |
| 18 | Monroe County | 6 | $1.1M | 1.4% | 2 | +4 |
| 19 | Webster County | 5 | $4.5M | 1.2% | 3 | +2 |
| 20 | Appanoose County | 5 | $968K | 1.2% | 1 | +4 |
| 21 | Sioux County | 5 | $1.8M | 1.2% | 2 | +3 |
| 22 | Henry County | 4 | $1.3M | 0.9% | 4 | 0 |
| 23 | Delaware County | 4 | $3.4M | 0.9% | 2 | +2 |
| 24 | Cerro Gordo County | 3 | $395K | 0.7% | 10 | -7 |
| 25 | Jasper County | 3 | $931K | 0.7% | 2 | +1 |
| 26 | Marshall County | 3 | $2.6M | 0.7% | 3 | 0 |
| 27 | Bremer County | 3 | $528K | 0.7% | 6 | -3 |
| 28 | Jones County | 3 | $360K | 0.7% | 2 | +1 |
| 29 | Harrison County | 3 | $767K | 0.7% | 2 | +1 |
| 30 | O'Brien County | 3 | $1.5M | 0.7% | 1 | +2 |
| 31 | Buchanan County | 2 | — | 0.5% | 1 | +1 |
| 32 | Fayette County | 2 | — | 0.5% | 2 | 0 |
| 33 | Benton County | 2 | — | 0.5% | 1 | +1 |
| 34 | Lyon County | 2 | — | 0.5% | 1 | +1 |
| 35 | Winnebago County | 2 | — | 0.5% | 0 | new |
| 36 | Madison County | 2 | — | 0.5% | 3 | -1 |
| 37 | Marion County | 2 | — | 0.5% | 7 | -5 |
| 38 | Cherokee County | 2 | — | 0.5% | 0 | new |
| 39 | Ida County | 2 | — | 0.5% | 1 | +1 |
| 40 | Mahaska County | 2 | — | 0.5% | 0 | new |
The 40 counties with the most approvals; every county is on the Iowa page.
FY2020 against FY2019
| Iowa | FY2020 | FY2019 |
|---|---|---|
| 7(a) approvals | 354 | 359 |
| 7(a) dollars | $175M | $127M |
| Median 7(a) approval | $172K | $150K |
| 504 approvals | 75 | 46 |
| 504 dollars | $58.8M | $40.6M |
| Jobs supported, as reported | 5,523 | 4,441 |
Questions and answers
Which lenders made the most SBA loans in Iowa in FY2020?
U.S. Bank, National Association (38), Iowa Business Growth Company (33), Lincoln Savings Bank (29), Farmers and Merchants Savings Bank (22), Siouxland Economic Development Corporation (16). 104 lenders had at least one approval.
How many SBA loans were approved in Iowa in FY2020?
429: 354 under 7(a) worth $175M and 75 under 504 worth $58.8M.
Which Iowa counties had the most SBA approvals in FY2020?
Polk County (106), Linn County (50), Scott County (26), Dallas County (22), Black Hawk County (22).
When does FY2020 start and end?
The federal fiscal year 2020 runs from 1 October 2019 to 30 September 2020.
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