FY20251 Oct 2024 – 30 Sep 2025
SBA loans in Iowa, FY2025
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 FY2025 (1 October 2024 to 30 September 2025) SBA approved 490 loans in Iowa: 429 under 7(a) and 61 under 504, worth $225M.
That is about level with FY2024, when there were 476 approvals worth $196M.
Iowa accounted for 0.6% of the 84,840 approvals nationwide that year. 109 lenders had at least one approval in the state; U.S. Bank, National Association had the most, 85.
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 FY2025, of 109 active.
| # | Lender | Program | Approvals | Dollars | Share of state | FY2024 | Change |
|---|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | 7(a) | 85 | $8.2M | 17.3% | 65 | +20 |
| 2 | Northeast Bank | 7(a) | 35 | $5.3M | 7.1% | 12 | +23 |
| 3 | Iowa Business Growth Company | 504 | 28 | $19.6M | 5.7% | 16 | +12 |
| 4 | Newtek Bank, National Association | 7(a) | 18 | $8.4M | 3.7% | 11 | +7 |
| 5 | Nicolet National Bank | 7(a) | 12 | $6.0M | 2.4% | 18 | -6 |
| 6 | The Huntington National Bank | 7(a) | 12 | $5.7M | 2.4% | 16 | -4 |
| 7 | Farmers State Bank | 7(a) | 12 | $5.6M | 2.4% | 21 | -9 |
| 8 | Bankers Trust Company | 7(a) | 10 | $3.3M | 2.0% | 4 | +6 |
| 9 | Readycap Lending, LLC | 7(a) | 9 | $3.1M | 1.8% | 11 | -2 |
| 10 | Lendistry SBLC, LLC | 7(a) | 9 | $2.3M | 1.8% | 4 | +5 |
| 11 | Northwest Bank | 7(a) | 9 | $1.4M | 1.8% | 13 | -4 |
| 12 | Siouxland Economic Development Corporation | 504 | 8 | $5.4M | 1.6% | 9 | -1 |
| 13 | Hills Bank and Trust Company | 7(a) | 8 | $1.3M | 1.6% | 16 | -8 |
| 14 | Wells Fargo Bank National Association | 7(a) | 7 | $4.1M | 1.4% | 10 | -3 |
| 15 | Pivotal Business Partners | 504 | 7 | $4.0M | 1.4% | 5 | +2 |
| 16 | Live Oak Banking Company | 7(a) | 6 | $5.8M | 1.2% | 6 | 0 |
| 17 | First Mid Bank & Trust, National Association | 7(a) | 6 | $2.2M | 1.2% | 6 | 0 |
| 18 | Lincoln Savings Bank | 7(a) | 6 | $2.0M | 1.2% | 13 | -7 |
| 19 | BayFirst National Bank | 7(a) | 6 | $801K | 1.2% | 17 | -11 |
| 20 | Community 1st CU | 7(a) | 6 | $746K | 1.2% | 5 | +1 |
| 21 | Bank Iowa | 7(a) | 6 | $617K | 1.2% | 6 | 0 |
| 22 | First Interstate Bank | 7(a) | 6 | $433K | 1.2% | 4 | +2 |
| 23 | Dakota Business Finance | 504 | 5 | $4.6M | 1.0% | 10 | -5 |
| 24 | Black Hawk Economic Development, Inc. | 504 | 5 | $3.3M | 1.0% | 6 | -1 |
| 25 | Farmers State Bank | 7(a) | 5 | $1.1M | 1.0% | 5 | 0 |
| 26 | Farmers and Merchants Savings Bank | 7(a) | 5 | $892K | 1.0% | 9 | -4 |
| 27 | Climate First Bank | 7(a) | 4 | $7.2M | 0.8% | 0 | new |
| 28 | Truliant FCU | 7(a) | 4 | $6.8M | 0.8% | 1 | +3 |
| 29 | Small Business Growth Corporation | 504 | 4 | $5.1M | 0.8% | 1 | +3 |
| 30 | E.C.I.A. Business Growth, Inc. | 504 | 4 | $4.2M | 0.8% | 6 | -2 |
| 31 | TruBank | 7(a) | 4 | $3.8M | 0.8% | 7 | -3 |
| 32 | Celtic Bank Corporation | 7(a) | 4 | $3.1M | 0.8% | 2 | +2 |
| 33 | Byline Bank | 7(a) | 4 | $1.5M | 0.8% | 4 | 0 |
| 34 | Cedar Rapids Bank and Trust Company | 7(a) | 4 | $1.0M | 0.8% | 9 | -5 |
| 35 | Associated Bank National Association | 7(a) | 4 | $999K | 0.8% | 0 | new |
| 36 | Union Bank and Trust Company | 7(a) | 4 | $959K | 0.8% | 3 | +1 |
| 37 | United Bank of Iowa | 7(a) | 4 | $562K | 0.8% | 8 | -4 |
| 38 | Arbor Bank | 7(a) | 4 | $521K | 0.8% | 0 | new |
| 39 | GBank | 7(a) | 3 | $6.9M | 0.6% | 1 | +2 |
| 40 | Community Savings Bank | 7(a) | 3 | $2.5M | 0.6% | 1 | +2 |
Approvals by county
| # | County | Approvals | Dollars | Share of state | FY2024 | Change |
|---|---|---|---|---|---|---|
| 1 | Polk County | 131 | $57.8M | 26.7% | 114 | +17 |
| 2 | Linn County | 38 | $18.6M | 7.8% | 40 | -2 |
| 3 | Scott County | 27 | $8.5M | 5.5% | 28 | -1 |
| 4 | Dallas County | 24 | $9.2M | 4.9% | 33 | -9 |
| 5 | Black Hawk County | 21 | $10.0M | 4.3% | 18 | +3 |
| 6 | Johnson County | 20 | $7.2M | 4.1% | 24 | -4 |
| 7 | Pottawattamie County | 16 | $7.4M | 3.3% | 7 | +9 |
| 8 | Dubuque County | 12 | $4.3M | 2.4% | 13 | -1 |
| 9 | Warren County | 12 | $5.1M | 2.4% | 17 | -5 |
| 10 | Story County | 12 | $2.2M | 2.4% | 10 | +2 |
| 11 | Jasper County | 11 | $6.3M | 2.2% | 10 | +1 |
| 12 | Woodbury County | 8 | $1.6M | 1.6% | 6 | +2 |
| 13 | Boone County | 8 | $2.0M | 1.6% | 3 | +5 |
| 14 | Muscatine County | 8 | $4.5M | 1.6% | 4 | +4 |
| 15 | Cerro Gordo County | 7 | $924K | 1.4% | 13 | -6 |
| 16 | Washington County | 7 | $1.8M | 1.4% | 3 | +4 |
| 17 | Jefferson County | 6 | $865K | 1.2% | 2 | +4 |
| 18 | Clinton County | 6 | $5.1M | 1.2% | 4 | +2 |
| 19 | Plymouth County | 5 | $1.3M | 1.0% | 0 | new |
| 20 | Fayette County | 5 | $1.1M | 1.0% | 2 | +3 |
| 21 | Grundy County | 5 | $3.4M | 1.0% | 3 | +2 |
| 22 | Iowa County | 4 | $2.3M | 0.8% | 1 | +3 |
| 23 | Clay County | 4 | $609K | 0.8% | 3 | +1 |
| 24 | Appanoose County | 4 | $3.2M | 0.8% | 1 | +3 |
| 25 | Dickinson County | 4 | $3.5M | 0.8% | 6 | -2 |
| 26 | Hamilton County | 4 | $5.3M | 0.8% | 0 | new |
| 27 | Poweshiek County | 4 | $731K | 0.8% | 1 | +3 |
| 28 | Chickasaw County | 3 | $169K | 0.6% | 3 | 0 |
| 29 | Cedar County | 3 | $340K | 0.6% | 5 | -2 |
| 30 | Sioux County | 3 | $3.1M | 0.6% | 5 | -2 |
| 31 | Bremer County | 3 | $265K | 0.6% | 4 | -1 |
| 32 | Delaware County | 3 | $987K | 0.6% | 3 | 0 |
| 33 | Des Moines County | 3 | $2.3M | 0.6% | 1 | +2 |
| 34 | Page County | 3 | $400K | 0.6% | 0 | new |
| 35 | Mitchell County | 3 | $2.4M | 0.6% | 2 | +1 |
| 36 | Webster County | 2 | — | 0.4% | 3 | -1 |
| 37 | Benton County | 2 | — | 0.4% | 4 | -2 |
| 38 | Lyon County | 2 | — | 0.4% | 5 | -3 |
| 39 | Sac County | 2 | — | 0.4% | 1 | +1 |
| 40 | Jackson County | 2 | — | 0.4% | 0 | new |
The 40 counties with the most approvals; every county is on the Iowa page.
FY2025 against FY2024
| Iowa | FY2025 | FY2024 |
|---|---|---|
| 7(a) approvals | 429 | 421 |
| 7(a) dollars | $179M | $146M |
| Median 7(a) approval | $150K | $150K |
| 504 approvals | 61 | 55 |
| 504 dollars | $46.3M | $49.9M |
| Jobs supported, as reported | 4,502 | 4,436 |
Questions and answers
Which lenders made the most SBA loans in Iowa in FY2025?
U.S. Bank, National Association (85), Northeast Bank (35), Iowa Business Growth Company (28), Newtek Bank, National Association (18), Nicolet National Bank (12). 109 lenders had at least one approval.
How many SBA loans were approved in Iowa in FY2025?
490: 429 under 7(a) worth $179M and 61 under 504 worth $46.3M.
Which Iowa counties had the most SBA approvals in FY2025?
Polk County (131), Linn County (38), Scott County (27), Dallas County (24), Black Hawk County (21).
When does FY2025 start and end?
The federal fiscal year 2025 runs from 1 October 2024 to 30 September 2025.
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