FY20211 Oct 2020 – 30 Sep 2021
SBA loans in Iowa, FY2021
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 FY2021 (1 October 2020 to 30 September 2021) SBA approved 476 loans in Iowa: 381 under 7(a) and 95 under 504, worth $263M.
That is up 11% on FY2020, when there were 429 approvals worth $234M.
Iowa accounted for 0.8% of the 61,532 approvals nationwide that year. 113 lenders had at least one approval in the state; Iowa Business Growth Company had the most, 46.
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 FY2021, of 113 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|---|
| 1 | Iowa Business Growth Company | 504 | 46 | $35.3M | 9.7% | 33 | +13 |
| 2 | Lincoln Savings Bank | 7(a) | 34 | $21.5M | 7.1% | 29 | +5 |
| 3 | Farmers State Bank | 7(a) | 28 | $4.3M | 5.9% | 10 | +18 |
| 4 | Siouxland Economic Development Corporation | 504 | 15 | $9.2M | 3.2% | 16 | -1 |
| 5 | U.S. Bank, National Association | 7(a) | 14 | $1.0M | 2.9% | 38 | -24 |
| 6 | Wells Fargo Bank National Association | 7(a) | 13 | $934K | 2.7% | 7 | +6 |
| 7 | Clear Lake Bank & Trust Company | 7(a) | 12 | $4.9M | 2.5% | 4 | +8 |
| 8 | Newtek Small Business Finance, Inc. | 7(a) | 11 | $10.7M | 2.3% | 2 | +9 |
| 9 | NSB Bank | 7(a) | 11 | $8.7M | 2.3% | 2 | +9 |
| 10 | United Bank of Iowa | 7(a) | 11 | $2.7M | 2.3% | 5 | +6 |
| 11 | Hills Bank and Trust Company | 7(a) | 11 | $1.1M | 2.3% | 4 | +7 |
| 12 | Northwest Bank | 7(a) | 10 | $7.5M | 2.1% | 13 | -3 |
| 13 | City State Bank | 7(a) | 10 | $5.2M | 2.1% | 5 | +5 |
| 14 | Community 1st CU | 7(a) | 10 | $2.4M | 2.1% | 16 | -6 |
| 15 | Black Hawk Economic Development, Inc. | 504 | 9 | $4.7M | 1.9% | 12 | -3 |
| 16 | E.C.I.A. Business Growth, Inc. | 504 | 8 | $6.3M | 1.7% | 6 | +2 |
| 17 | First Mid Bank & Trust, National Association | 7(a) | 8 | $5.7M | 1.7% | 8 | 0 |
| 18 | Bankers Trust Company | 7(a) | 8 | $2.0M | 1.7% | 11 | -3 |
| 19 | Citizens First Bank | 7(a) | 8 | $1.2M | 1.7% | 2 | +6 |
| 20 | Bank Iowa | 7(a) | 7 | $6.3M | 1.5% | 2 | +5 |
| 21 | First Bank | 7(a) | 7 | $4.4M | 1.5% | 3 | +4 |
| 22 | Cedar Rapids Bank and Trust Company | 7(a) | 6 | $11.9M | 1.3% | 3 | +3 |
| 23 | First National Bank | 7(a) | 6 | $1.6M | 1.3% | 3 | +3 |
| 24 | Farmers and Merchants Savings Bank | 7(a) | 6 | $1.5M | 1.3% | 22 | -16 |
| 25 | First Interstate Bank | 7(a) | 5 | $6.1M | 1.1% | 6 | -1 |
| 26 | Dakota Business Finance | 504 | 5 | $4.8M | 1.1% | 4 | +1 |
| 27 | TruBank | 7(a) | 5 | $1.3M | 1.1% | 3 | +2 |
| 28 | United Midwest Savings Bank National Association | 7(a) | 4 | $3.6M | 0.8% | 9 | -5 |
| 29 | Pivotal Business Partners | 504 | 4 | $2.5M | 0.8% | 3 | +1 |
| 30 | Small Business Growth Corporation | 504 | 4 | $2.1M | 0.8% | 0 | new |
| 31 | First National Bank Ames, Iowa | 7(a) | 4 | $1.0M | 0.8% | 2 | +2 |
| 32 | Midwest Business Finance Corporation | 504 | 4 | $965K | 0.8% | 0 | new |
| 33 | Raccoon Valley Bank | 7(a) | 4 | $867K | 0.8% | 2 | +2 |
| 34 | Falcon National Bank | 7(a) | 3 | $3.6M | 0.6% | 0 | new |
| 35 | Live Oak Banking Company | 7(a) | 3 | $3.3M | 0.6% | 2 | +1 |
| 36 | IH Mississippi Valley Credit Union | 7(a) | 3 | $1.3M | 0.6% | 6 | -3 |
| 37 | The Clinton National Bank | 7(a) | 3 | $1.2M | 0.6% | 4 | -1 |
| 38 | Community Savings Bank | 7(a) | 3 | $1.1M | 0.6% | 5 | -2 |
| 39 | Fairfax State Savings Bank | 7(a) | 3 | $938K | 0.6% | 2 | +1 |
| 40 | BMO Bank National Association | 7(a) | 3 | $893K | 0.6% | 2 | +1 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2020 | Change |
|---|---|---|---|---|---|---|
| 1 | Polk County | 97 | $53.1M | 20.4% | 106 | -9 |
| 2 | Linn County | 42 | $34.4M | 8.8% | 50 | -8 |
| 3 | Black Hawk County | 29 | $9.2M | 6.1% | 22 | +7 |
| 4 | Scott County | 26 | $17.1M | 5.5% | 26 | 0 |
| 5 | Warren County | 18 | $7.0M | 3.8% | 6 | +12 |
| 6 | Cerro Gordo County | 16 | $11.0M | 3.4% | 3 | +13 |
| 7 | Story County | 16 | $10.1M | 3.4% | 6 | +10 |
| 8 | Johnson County | 15 | $7.3M | 3.2% | 15 | 0 |
| 9 | Dallas County | 15 | $7.3M | 3.2% | 22 | -7 |
| 10 | Clinton County | 13 | $7.7M | 2.7% | 7 | +6 |
| 11 | Dubuque County | 11 | $7.2M | 2.3% | 8 | +3 |
| 12 | Dickinson County | 11 | $4.1M | 2.3% | 6 | +5 |
| 13 | Pottawattamie County | 10 | $6.0M | 2.1% | 8 | +2 |
| 14 | Woodbury County | 9 | $2.5M | 1.9% | 16 | -7 |
| 15 | Marion County | 9 | $1.8M | 1.9% | 2 | +7 |
| 16 | Bremer County | 7 | $2.1M | 1.5% | 3 | +4 |
| 17 | Ida County | 7 | $907K | 1.5% | 2 | +5 |
| 18 | Clay County | 6 | $3.0M | 1.3% | 1 | +5 |
| 19 | Iowa County | 5 | $1.4M | 1.1% | 1 | +4 |
| 20 | Sioux County | 5 | $2.5M | 1.1% | 5 | 0 |
| 21 | Hancock County | 5 | $3.5M | 1.1% | 0 | new |
| 22 | Lyon County | 4 | $484K | 0.8% | 2 | +2 |
| 23 | Jones County | 4 | $3.9M | 0.8% | 3 | +1 |
| 24 | Boone County | 3 | $354K | 0.6% | 9 | -6 |
| 25 | Muscatine County | 3 | $1.1M | 0.6% | 1 | +2 |
| 26 | Shelby County | 3 | $710K | 0.6% | 1 | +2 |
| 27 | Cherokee County | 3 | $1.4M | 0.6% | 2 | +1 |
| 28 | Crawford County | 3 | $392K | 0.6% | 1 | +2 |
| 29 | Tama County | 3 | $1.1M | 0.6% | 6 | -3 |
| 30 | Mahaska County | 3 | $141K | 0.6% | 2 | +1 |
| 31 | Des Moines County | 3 | $4.0M | 0.6% | 2 | +1 |
| 32 | Floyd County | 3 | $665K | 0.6% | 2 | +1 |
| 33 | Webster County | 2 | — | 0.4% | 5 | -3 |
| 34 | Benton County | 2 | — | 0.4% | 2 | 0 |
| 35 | Wapello County | 2 | — | 0.4% | 1 | +1 |
| 36 | Jackson County | 2 | — | 0.4% | 0 | new |
| 37 | Appanoose County | 2 | — | 0.4% | 5 | -3 |
| 38 | Hamilton County | 2 | — | 0.4% | 1 | +1 |
| 39 | Cedar County | 2 | — | 0.4% | 6 | -4 |
| 40 | Poweshiek County | 2 | — | 0.4% | 1 | +1 |
The 40 counties with the most approvals; every county is on the Iowa page.
FY2021 against FY2020
| Iowa | FY2021 | FY2020 |
|---|---|---|
| 7(a) approvals | 381 | 354 |
| 7(a) dollars | $197M | $175M |
| Median 7(a) approval | $204K | $172K |
| 504 approvals | 95 | 75 |
| 504 dollars | $65.9M | $58.8M |
| Jobs supported, as reported | 5,668 | 5,523 |
Questions and answers
Which lenders made the most SBA loans in Iowa in FY2021?
Iowa Business Growth Company (46), Lincoln Savings Bank (34), Farmers State Bank (28), Siouxland Economic Development Corporation (15), U.S. Bank, National Association (14). 113 lenders had at least one approval.
How many SBA loans were approved in Iowa in FY2021?
476: 381 under 7(a) worth $197M and 95 under 504 worth $65.9M.
Which Iowa counties had the most SBA approvals in FY2021?
Polk County (97), Linn County (42), Black Hawk County (29), Scott County (26), Warren County (18).
When does FY2021 start and end?
The federal fiscal year 2021 runs from 1 October 2020 to 30 September 2021.
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