SBA lending by metro area
SBA lenders in Waterloo, IA
Which lenders fund Waterloo-area businesses, how much, and how the market compares with Iowa: SBA 7(a) and 504 loans, FY2010–2026.
By Mario Bailey · SBA FOIA data as of 2026-03-31
Top SBA lenders in the Waterloo area
Ranked by SBA volume funded to businesses located in the Waterloo metropolitan area, wherever the lender is headquartered. National SBA lenders that fund here are included.
| # | Lender | Loans | Total funded | Average loan | 7(a) charge-off |
|---|---|---|---|---|---|
| 1 | Farmers State Bank | 177 | $32.1M | $181K | 2.82% |
| 2 | Black Hawk Economic Development, Inc. | 72 | $28.0M | $388K | not reported |
| 3 | Lincoln Savings Bank | 43 | $22.4M | $522K | 4.65% |
| 4 | First Bank | 46 | $13.4M | $292K | 2.17% |
| 5 | Cedar Rapids Bank and Trust Company | 18 | $5.5M | $305K | not reported |
| 6 | Peoples Savings Bank | 13 | $5.3M | $404K | not reported |
| 7 | Green Belt Bank & Trust | 5 | $5.0M | $994K | not reported |
| 8 | First Interstate Bank | 10 | $4.9M | $485K | not reported |
| 9 | Celtic Bank Corporation | 7 | $3.2M | $452K | not reported |
| 10 | Farmers and Merchants Savings Bank | 7 | $2.7M | $388K | not reported |
SBA 7(a) and 504 loans, FY2010–2026, as of 2026-03-31, from the SBA's public record.
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How Waterloo compares
Median funded SBA loan and 504 share of loans, FY2010–2026.
| Median loan | 504 share | |
|---|---|---|
| Waterloo area | $145K ▼ 18.5% | 15.4% |
| Iowa | $178K | 15.7% |
| United States | $179K | 11.2% |
What gets funded in Waterloo
| Industry | Loans | Total funded |
|---|---|---|
| Accommodation and Food Services | 74 | $32.3M |
| Retail Trade | 68 | $25.5M |
| Other Services | 64 | $20.8M |
| Manufacturing | 55 | $19.3M |
| Construction | 69 | $12.5M |
| Administrative and Support | 27 | $10.4M |
| Health Care and Social Assistance | 28 | $9.0M |
| Professional and Technical Services | 28 | $8.7M |
SBA lending in Waterloo by year
Geography, precisely
"Waterloo area" here means the Waterloo-Cedar Falls, IA metropolitan statistical area as delineated by OMB (July 2023), which is exactly these counties: Black Hawk County, IA; Bremer County, IA; Grundy County, IA. Loans are placed by the SBA's recorded project county, which can differ from a borrower's mailing address. Counts are SBA 7(a) and 504 funded loans, FY2010–2026, as of 2026-03-31. See the methodology.