SBA data · Iowa
SBA lending in Iowa
8,069 loans worth $3.42B have been approved for Iowa projects since FY2010 - the #33 state by SBA dollars, 0.7% of the national total.
State rank
#33
by dollars approved
Approved
$3.42B
FY2010 onward
Loans
8,069
Median loan
$180,000
+0% vs national
Median 7(a) rate
6.00%
Jobs supported
95,332
Lender-reported
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Who lends here
The most active SBA lenders in Iowa
Ranked by dollars approved for projects in this state. Ranking is computed from federal data and cannot be purchased.
| # | Lender | Approved in IA | Loans | Avg loan | Share |
|---|---|---|---|---|---|
| 1 | Iowa Business Growth Company | $323.2M | 506 | $638,680 | |
| 2 | Siouxland Economic Development Corporation | $213.0M | 287 | $742,192 | |
| 3 | Lincoln Savings Bank | $110.4M | 189 | $584,336 | |
| 4 | Cedar Rapids Bank and Trust Company | $110.4M | 238 | $463,984 | |
| 5 | Black Hawk Economic Development, Inc. | $105.3M | 191 | $551,267 | |
| 6 | Wells Fargo Bank | $85.0M | 356 | $238,886 | |
| 7 | First Interstate Bank | $85.0M | 162 | $524,641 | |
| 8 | Live Oak Banking Company | $84.8M | 74 | $1,145,766 | |
| 9 | Farmers State Bank | $78.8M | 387 | $203,729 | |
| 10 | Northwest Bank | $73.5M | 209 | $351,585 | |
| 11 | U.S. Bank | $71.4M | 667 | $107,104 | |
| 12 | Farmers and Merchants Savings Bank | $70.0M | 138 | $507,228 |
By sector in Iowa
- Restaurants & Hotels1,184 · $618.1M
- Health Care803 · $330.4M
- Retail751 · $326.5M
- Construction946 · $274.8M
- Other Services831 · $253.6M
- Wholesale328 · $180.4M
- Professional Services525 · $178.1M
- Arts & Recreation340 · $138.4M
- Administrative & Waste367 · $113.1M
- Manufacturing173 · $106.7M
- Real Estate177 · $102.7M
- Transportation253 · $88.9M
Most-financed industries
Approvals by fiscal year
Gross approval dollars in Iowa. The final bar is a partial fiscal year.
Loan sizes in Iowa
- Under $50K17%
- $50K - $150K25%
- $150K - $350K25%
- $350K - $1M21%
- $1M - $2M7%
- Over $2M4%
SBA lending in Iowa: common questions
- How many SBA loans are approved in Iowa?
- 8,069 SBA 7(a) and 504 loans totalling $3,423,306,200 have been approved for projects in Iowa since fiscal year 2010, ranking it #33 among states and territories by dollars approved - 0.7% of all SBA lending nationally.
- Which lenders make the most SBA loans in Iowa?
- By dollars approved in Iowa, the most active lenders are Iowa Business Growth Company, Siouxland Economic Development Corporation, Lincoln Savings Bank, Cedar Rapids Bank and Trust Company, Black Hawk Economic Development, Inc.. Volume is not a recommendation - a lender's fit depends on your industry, loan size, and credit profile.
- What is the typical SBA loan size in Iowa?
- The median gross approval in Iowa is $180,000, close to the national median of $180,000. Half of all loans in the state fall between $25,000 and $1,074,000.
- Do I need to use a lender based in Iowa?
- No. SBA lenders can and routinely do lend across state lines, and several of the largest national 7(a) lenders have no branch presence at all. The lenders listed on this page are those with the most approved dollars for projects located in Iowa, wherever they are headquartered.
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
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