Best SBA lenders
Best SBA lenders in Iowa
The most active SBA lenders in Iowa, ranked from every 7(a) and 504 loan in the SBA's public record, FY2010-2026. U.S. Bank, National Association leads with 649 loans funded.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, FY2010–2026, as of 2026-03-31
Top SBA lenders in Iowa
The full Iowa ranking, by SBA loans funded since FY2010. Every figure is in-state: each lender's loans, dollars, average loan size, and 7(a) charge-off rate cover its Iowa lending only, not its national book. A charge-off rate appears only when a lender has at least 20 funded 7(a) loans in Iowa; below that line, and on 504-only lending, it reads “not reported,” never 0%.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | 649 | $67.1M | $103K | 2.77% |
| 2 | Iowa Business Growth Company | 498 | $317.1M | $637K | not reported |
| 3 | Farmers State Bank | 377 | $77.6M | $206K | 2.65% |
| 4 | Wells Fargo Bank National Association | 356 | $85.3M | $240K | 5.62% |
| 5 | Siouxland Economic Development Corporation | 286 | $212.5M | $743K | not reported |
| 6 | Cedar Rapids Bank and Trust Company | 237 | $110.0M | $464K | 1.69% |
| 7 | Northwest Bank | 207 | $73.2M | $354K | 4.35% |
| 8 | Lincoln Savings Bank | 188 | $108.2M | $575K | 3.19% |
| 9 | Black Hawk Economic Development, Inc. | 186 | $103.1M | $555K | not reported |
| 10 | Hills Bank and Trust Company | 181 | $25.5M | $141K | 1.66% |
| 11 | Bankers Trust Company | 179 | $53.5M | $299K | 3.91% |
| 12 | Community 1st CU | 168 | $20.8M | $124K | 3.57% |
| 13 | First Interstate Bank | 161 | $84.9M | $527K | 6.21% |
| 14 | Clear Lake Bank & Trust Company | 151 | $24.9M | $165K | 0.00% |
| 15 | Nicolet National Bank | 145 | $50.0M | $345K | 2.76% |
| 16 | Farmers and Merchants Savings Bank | 138 | $70.0M | $507K | 5.07% |
| 17 | United Bank of Iowa | 92 | $22.2M | $241K | 4.35% |
| 18 | TruBank | 89 | $21.5M | $242K | 7.87% |
| 19 | E.C.I.A. Business Growth, Inc. | 86 | $65.0M | $756K | not reported |
| 20 | Quad City Bank and Trust Company | 83 | $38.1M | $459K | 7.23% |
| 21 | Time Bank | 78 | $16.8M | $215K | 8.97% |
| 22 | Live Oak Banking Company | 72 | $83.3M | $1.2M | 0.00% |
| 23 | Celtic Bank Corporation | 70 | $37.3M | $533K | 10.00% |
| 24 | The Huntington National Bank | 68 | $32.8M | $483K | 2.94% |
| 25 | Northeast Bank | 68 | $15.1M | $223K | 4.41% |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
7(a) banks vs 504 lenders (CDCs) in Iowa
The two SBA programs have different lenders. A 7(a) loan comes from one bank or credit union; a 504 project pairs a bank with a Certified Development Company (CDC), the nonprofit that funds the SBA-backed portion. The leaders in Iowa by each program's loans funded since FY2010:
- 1. U.S. Bank, National Association 649 loans
- 2. Farmers State Bank 377 loans
- 3. Wells Fargo Bank National Association 356 loans
- 4. Cedar Rapids Bank and Trust Company 237 loans
- 5. Northwest Bank 207 loans
- 1. Iowa Business Growth Company 498 loans
- 2. Siouxland Economic Development Corporation 286 loans
- 3. Black Hawk Economic Development, Inc. 186 loans
- 4. E.C.I.A. Business Growth, Inc. 86 loans
- 5. Pivotal Business Partners 58 loans
Counts are each program's funded loans in Iowa. How the two programs differ: 504 vs 7(a), by the data.
Where SBA lending concentrates in Iowa
The 3 industries with the most SBA loans in Iowa since FY2010, and the most active lender in each. A lender that leads your industry locally can matter more than the overall #1.
| Industry | Loans | Total funded | Most active lender |
|---|---|---|---|
| Accommodation and Food Services | 1,164 | $608.2M | Iowa Business Growth Company (74 loans) |
| Retail Trade | 1,066 | $419.9M | U.S. Bank, National Association (78 loans) |
| Construction | 934 | $272.1M | U.S. Bank, National Association (201 loans) |
Full industry, city, and yearly breakdowns: SBA lending in Iowa.
How this ranking works
- “Most active” means loans funded. The ranking counts every SBA 7(a) and 504 loan funded to Iowa businesses in the SBA's public FOIA record, FY2010–2026, as of 2026-03-31. No lender pays to appear or to rank, and activity is not a fit score: the right lender for you depends on your industry, loan size, and timeline.
- The 10-loan line. A lender enters the Iowa table only with at least 10 loans funded in-state, so one-off activity never reads as a track record. Industry cells above are held to at least 30 loans.
- Charge-off is 7(a)-only and needs 20+ loans. The SBA reports charge-offs on 7(a) loans, never on 504 loans. We show an in-state rate only when a lender has at least 20 funded 7(a) loans in Iowa; anything thinner reads “not reported,” never 0%. It is a charge-off share of funded loans to date, not a lifetime default rate.
- Name collisions are excluded, and counted. The SBA does not normalize lender names across mergers and rebrands, so one name can blend several unrelated institutions. Flagged names are never ranked on this page; each exclusion is disclosed under the table.
The exact calculations and limits: methodology.
Best SBA lenders in Iowa: frequently asked questions
Who is the most active SBA lender in Iowa?
U.S. Bank, National Association is the most active SBA lender in Iowa in the public record, with 649 7(a) and 504 loans funded since FY2010 ($67.1M in Iowa). The ranking counts loans funded, never who pays us.
Do these lenders only serve Iowa?
No. The ranking measures activity in Iowa: loans funded to Iowa businesses in the SBA's record. Many of these lenders are national or multi-state institutions; the loans, dollars, and charge-off figures shown are their Iowa lending only.
What's the difference between a 7(a) lender and a CDC?
A 7(a) lender is a bank or credit union that funds an SBA-guaranteed loan directly. A Certified Development Company (CDC) is a nonprofit that funds the SBA-backed portion of a 504 project alongside a bank. Charge-off is reported only on 7(a) loans, so a 504-only CDC shows "not reported," never 0%.
How many SBA lenders are active in Iowa?
112 lenders have funded at least 10 SBA loans in Iowa since FY2010 in the public record (as of 2026-03-31). The table above names the 25 most active of them; names that blend several same-named institutions are excluded from rankings.
Mario Bailey. (2026). Best SBA lenders in Iowa. SBA Loan Index. https://sbaloanindex.com/best-sba-lenders/in/ia/
Free to cite and quote with attribution and a link. Members of the press can reach us via our press page.
Find your SBA lender in Iowa
Get matched with the SBA lenders that actually fund businesses like yours, ranked on real loan data by state, industry, and size. Independent: your details go only to the lenders we match you to, never to data brokers.