Top SBA Lenders in Iowa -

SBA loans play a crucial role in providing financial assistance to entrepreneurs and small business owners. For those in Iowa seeking SBA loans, understanding the key players in the lending landscape is essential. Here’s a breakdown of the top SBA lenders in Iowa based on the number of loans, average loan amount, and average interest rates.

Iowa Preferred SBA Lenders

Rank	Bank	Bank HQ	# of Loans	Avg Loan	Avg Interest
1	Lincoln Savings Bank	Reinbeck, IA	34	$466,129	7.3%
2	Community 1st CU	Ottumwa, IA	24	$105,146	5.9%
3	Farmers State Bank	Waterloo, IA	20	$358,190	5.7%
4	U.S. Bank	Cincinnati, OH	20	$54,120	7.2%
5	United Bank of Iowa	Ida Grove, IA	13	$386,169	4.5%
6	Northwest Bank	Spencer, IA	11	$367,209	6.1%
7	Citizens First Bank	Clinton, IA	9	$138,611	5.4%
8	Hills Bank and Trust Company	Hills, IA	9	$692,511	5.0%
9	MidWestOne Bank	Iowa City, IA	9	$368,356	5.6%
10	Wells Fargo	Sioux Falls, SD	8	$476,750	8.5%
11	City State Bank	Norwalk, IA	7	$718,300	5.3%
12	Clear Lake Bank & Trust	Clear Lake, IA	7	$304,900	5.5%
13	Farmers & Merchants Savings Bank	Manchester, IA	7	$473,171	5.5%
14	Bank Midwest	Spirit Lake, IA	6	$149,417	5.3%
15	TruBank	Indianola, IA	6	$320,833	4.9%
16	Two Rivers Bank & Trust	Burlington, IA	6	$355,667	6.4%
17	First Bank	Waverly, IA	5	$457,500	5.9%
18	First Central State Bank	De Witt, IA	5	$991,860	5.7%
19	Newtek Small Business Finance	Lake Success, NY	5	$558,000	7.5%
20	First Citizens Bank	Mason City, IA	4	$221,250	5.2%
21	BancorpSouth Bank	Tupelo, MS	3	$667,000	8.2%
22	BayFirst National Bank	Saint Petersburg, FL	3	$167,000	7.6%
23	Community Savings Bank	Edgewood, IA	3	$1,458,333	6.1%
24	Dogwood State Bank	Raleigh, NC	3	$608,700	9.1%
25	First Bank & Trust	Brookings, SD	3	$1,196,700	5.1%
26	Guthrie County State Bank	Panora, IA	3	$446,933	6.2%
27	Iowa Trust and Savings Bank	Centerville, IA	3	$195,000	5.5%
28	Readycap Lending, LLC	Berkeley Heights, NJ	3	$228,633	6.0%
29	Security Savings Bank	Canton, SD	3	$122,033	5.4%
30	South Ottumwa Savings Bank	Ottumwa, IA	3	$195,233	6.5%

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Top Industries for SBA loans in Iowa

Rank	Industry	# of Loans	Avg Loan	Avg Interest
1	Full-Service Restaurants	20	$335,530	6.0%
2	Beauty Salons	13	$180,769	7.1%
3	Offices of Chiropractors	12	$184,875	6.0%
4	Landscaping Services	10	$193,230	6.1%
5	Limited-Service Restaurants	10	$405,700	5.9%
6	Hotels (except Casino Hotels) and Motels	9	$1,260,056	5.6%
7	Snack and Nonalcoholic Beverage Bars	8	$312,600	6.5%
8	Fitness and Recreational Sports Centers	8	$237,275	5.9%
9	Pet Care (except Veterinary) Services	7	$304,614	5.4%
10	Insurance Agencies and Brokerages	6	$366,667	5.9%
11	General Automotive Repair	6	$300,050	4.7%
12	Residential Remodelers	6	$275,417	6.9%
13	Wineries	4	$554,900	8.5%
14	All Other Specialty Trade Contractors	4	$140,000	6.9%
15	Drinking Places (Alcoholic Beverages)	4	$285,000	4.6%
16	General Freight Trucking, Local	4	$157,000	4.9%
17	Car Washes	4	$707,425	5.7%
18	Creamery Butter Manufacturing	3	$1,415,000	4.1%
19	Supermarkets and Other Grocery (except Convenience) Stores	3	$116,500	6.1%
20	Sporting and Athletic Goods Manufacturing	3	$1,050,000	7.7%
21	Recyclable Material Merchant Wholesalers	3	$528,333	6.9%
22	Photography Studios, Portrait	3	$61,067	7.4%
23	Offices of Lawyers	3	$188,400	5.3%

Top SBA Loan Franchises in Iowa

Rank	FranchiseName	# of Loans	Avg Loan	Avg Interest
1	Super 8	6	$1,402,667	5.5%
2	Hotworx	3	$335,000	6.9%
3	Dairy Queen Franchise Agreemen	2	$811,450	5.2%
4	Rocky Mountain Chocolate Facto	2	$342,900	7.5%
5	Servpro	2	$798,400	5.9%

Top Iowa SBA Loan Borrowers by Jobs Supported

Rank	Business	Location	Industry	Loan Size	Interest Rate	Jobs
1	MILTON CREAMERY LLC	Milton, IA	Creamery Butter Manufacturing	$1M – $2.5M	4.1%	94
2	WOLF CONSTRUCTION SERVICES IN	West Des Moines, IA	Commercial and Institutional Building Construction	$500K – $1M	5.3%	84
3	FIVE K ENTERPRISES L.L.C.	West Des Moines, IA	Full-Service Restaurants	$250K – $500K	9.0%	82
4	TEGGATZ ENTERPRISES INC.	Mason City, IA	Remediation Services	$500K – $1M	5.9%	78
5	FOX RIDGE FARM INC	Cumming, IA	All Other Miscellaneous Crop Farming	$500K – $1M	4.2%	70
6	T & K VENTURES II LLC	Ankeny, IA	Full-Service Restaurants	$500K – $1M	6.3%	52
7	5 BOROUGH BAGELS LLC	Urbandale, IA	Limited-Service Restaurants	$500K – $1M	8.3%	47
8	CADILLAC LANES BOWLING INC.	Waterloo, IA	Bowling Centers	$250K – $500K	6.0%	40
9	WOOD ROOFING COMPANY INC	Des Moines, IA	Roofing Contractors	$1M – $2.5M	5.3%	40
10	THE POWDER SHOP INC.	Cedar Rapids, IA	Metal Coating, Engraving (except Jewelry and Silverware), and Allied S	$2.5M – $5M	7.3%	40
11	WINDOWS BY PELLA INC.	Waterloo, IA		$2.5M – $5M	4.8%	40
12	CUSTOM SPORTS EQUIPMENT INC.	Wheatland, IA	Sporting and Athletic Goods Manufacturing	$1M – $2.5M	9.8%	38
13	CYCO HOLDINGS LLC	Ames, IA	Limited-Service Restaurants	$500K – $1M	4.5%	36
14	KBM RESTAURANT GROUP LLC	Des Moines, IA	Limited-Service Restaurants	$250K – $500K	5.0%	33
15	SOJOURNERS LLC	Urbandale, IA		$1M – $2.5M	7.3%	32
16	PREVAIL BEAUTY LLC	West Des Moines, IA	Beauty Salons	$250K – $500K	6.5%	31
17	HEARTLAND MILLWRIGHTS INC.	Des Moines, IA	Industrial Building Construction	$250K – $500K	4.5%	31
18	ORVIS HORATIO GROUP LLC	Ankeny, IA	Full-Service Restaurants	$250K or less	4.9%	30
19	CRC ENTERTAINMENT INC.	Slater, IA	Full-Service Restaurants	$250K – $500K	6.8%	30
20	TURF AND FIELDSCAPE LLC	Huxley, IA	Landscaping Services	$250K or less	5.7%	28
21	MOGICH INVESTMENTS LLC	Dubuque, IA	Portfolio Management	$250K or less	7.0%	28
22	JTD HOSPITALITY GROUP LLC	Spirit Lake, IA	Full-Service Restaurants	$250K or less	5.0%	28
23	B3 BREW LLC	Waterloo, IA	Snack and Nonalcoholic Beverage Bars	$250K – $500K	5.1%	28
24	VILLAGE MONTESSORI CHIQUI-SCH	Des Moines, IA	Child Day Care Services	$500K – $1M	9.8%	28
25	GHOSH LLC	Clive, IA	Full-Service Restaurants	$250K – $500K	7.5%	27
26	EL BAJIO 2 INC.	Cedar Rapids, IA	Full-Service Restaurants	$500K – $1M	6.0%	27
27	MALONEY PROPERTY MAINTENANCE	Waterloo, IA	Landscaping Services	$500K – $1M	5.3%	26
28	TOPOG INC	Arnolds Park, IA	Snack and Nonalcoholic Beverage Bars	$250K or less	4.3%	25
29	HAVENS FAMILY MARKET	Baxter, IA	General Line Grocery Merchant Wholesalers	$250K or less	7.0%	24
30	DAM VENTURES VALLEY JUNCTION	West Des Moines, IA	Confectionery and Nut Stores	$250K – $500K	7.5%	24
31	VCD ENTERPRISES INC	Marquette, IA	Wineries	$500K – $1M	9.0%	24
32	HAPPY HOME RESPITE SERVICES LL	Ottumwa, IA	Child Day Care Services	$250K or less	5.5%	23
33	SALON MORAVEC LLC	Ankeny, IA	Beauty Salons	$250K – $500K	7.5%	23
34	ACCENT TAG AND LABEL INC	Des Moines, IA	Other Commercial Printing	$500K – $1M	9.0%	23
35	BATZ PIZZA LLC	Perry, IA	Limited-Service Restaurants	$500K – $1M	5.8%	22
36	OVER THE TOP	Pleasant Hill, IA	Ice Cream and Frozen Dessert Manufacturing	$1M – $2.5M	8.8%	22
37	LEGENDARY HOSPITALITY LLC	Storm Lake, IA	Full-Service Restaurants	$500K – $1M	9.0%	20
38	DD STORY HOLDINGS LLC	Story City, IA	Limited-Service Restaurants	$500K – $1M	6.0%	20
39	BEAN DRIP SERVICES LLC	Mount Vernon, IA	Snack and Nonalcoholic Beverage Bars	$1M – $2.5M	7.3%	20
40	DAVE’S PLACE LLC	Keokuk, IA	Homes for the Elderly	$1M – $2.5M	4.7%	20
41	ELDRIDGE LUMBER COMPANY	Eldridge, IA		$2.5M – $5M	5.5%	20
42	S. RYAN LLC	Clive, IA	All Other Personal Services	$250K or less	6.0%	19
43	KALIE SCHOESSLER LLC	West Des Moines, IA	Beauty Salons	$250K or less	9.0%	18
44	CANDOR HOMES LLC	Ankeny, IA	New Single-Family Housing Construction (except Operative Builders)	$250K or less	6.0%	17
45	PULSE DANCE FITNESS STUDIO LLC	West Des Moines, IA	Fitness and Recreational Sports Centers	$250K or less	6.3%	17
46	KYRA BLIX LLC	Cedar Falls, IA	Beauty Salons	$250K – $500K	6.3%	17
47	SMASH PIZZERIA AND BAKERY LLC	Bettendorf, IA	Full-Service Restaurants	$500K – $1M	5.6%	17
48	MUSTANG SHADING SYSTEMS LLC	Mount Vernon, IA	Window Treatment Stores	$1M – $2.5M	5.5%	17
49	SPARTAN STRENGTH LLC	Bettendorf, IA	Fitness and Recreational Sports Centers	$250K or less	5.7%	16
50	KOHLWES TRUCKLINE LLC	Des Moines, IA	General Freight Trucking, Local	$250K or less	5.0%	16
51	MERSCHMAN HARDWARE AND BUILDIN	Eldridge, IA	Hardware Stores	$250K – $500K	5.0%	16
52	HILL RELOCATIONS INC.	Walford, IA	Services for the Elderly and Persons with Disabilities	$250K – $500K	8.8%	16
53	4JPS ENTERPRISE LLC	Urbandale, IA	All Other Automotive Repair and Maintenance	$250K – $500K	4.8%	16
54	BUSY BEE GARDEN CENTER	Indianola, IA		$500K – $1M	5.3%	16
55	BILLY’S ICE CREAM STORE LLC	Adel, IA		$250K or less	7.5%	15
56	A-1 RENTAL INC	Cedar Rapids, IA	General Rental Centers	$250K – $500K	6.8%	15
57	KCC LLC	Hiawatha, IA	Sports and Recreation Instruction	$250K – $500K	5.5%	15
58	STRACKBEIN SK 2 LLC	Bettendorf, IA	Snack and Nonalcoholic Beverage Bars	$250K – $500K	7.0%	15
59	GODFATHER’S PIZZA CHEROKEE	Cherokee, IA	Full-Service Restaurants	$250K or less	9.0%	14
60	BMO RECREATION LLC	Ankeny, IA	All Other Amusement and Recreation Industries	$250K or less	6.8%	14
61	SWEAT IOWA LLC	Ankeny, IA	Diet and Weight Reducing Centers	$250K – $500K	7.5%	14
62	IOWA CUSTOM CABINETS LLC	Johnston, IA	Residential Remodelers	$500K – $1M	6.0%	14
63	WELDON CONTRACTORS LLC	Iowa City, IA	Drywall and Insulation Contractors	$2.5M – $5M	8.3%	14
64	TERRY & ANDY’S TACOS INC.	Ames, IA	Full-Service Restaurants	$250K or less	10.0%	13
65	KLAES ENTERPRISES LLC	Guttenberg, IA	Breweries	$250K – $500K	5.8%	13
66	HDWLR LLC	Ottumwa, IA	Recreational Vehicle Dealers	$250K – $500K	4.3%	13
67	RRK LAND LLC	West Des Moines, IA	Pet Care (except Veterinary) Services	$1M – $2.5M	6.0%	13
68	SBLV SIOUX CITY LLC	Sioux City, IA	Coin-Operated Laundries and Drycleaners	$1M – $2.5M	5.4%	13
69	INDIGO ROW FLORAL DESIGN	Rock Valley, IA		$250K or less	5.5%	12
70	BCXCB LLC	Spirit Lake, IA	Limited-Service Restaurants	$250K or less	6.0%	12
71	GANGA HOTEL LLC	Clinton, IA	Hotels (except Casino Hotels) and Motels	$250K or less	6.4%	12
72	MCDONALD INVESTMENTS L.L.C.	Dunlap, IA	Drinking Places (Alcoholic Beverages)	$250K or less	5.3%	12
73	PASSION FRUIT LLC	Des Moines, IA	Limited-Service Restaurants	$250K or less	6.3%	12
74	FALLER KINCHELOE & CO. PLC	Des Moines, IA	Offices of Certified Public Accountants	$250K – $500K	5.5%	12
75	L.L. FEZZ INC.	Janesville, IA	Other Waste Collection	$250K – $500K	6.0%	12
76	MOHR HOMES	Van Meter, IA	Residential Remodelers	$250K – $500K	8.3%	12
77	VCD ENTERPRISES INC.	Marquette, IA	Wineries	$250K – $500K	9.3%	12
78	MCDIVOTS SPORTS PUB LLC	Grimes, IA	Drinking Places (Alcoholic Beverages)	$250K – $500K	4.5%	12
79	KINZIE LLC	Urbandale, IA		$500K – $1M	6.8%	12
80	PO INC.	Ankeny, IA	Full-Service Restaurants	$500K – $1M	5.3%	12
81	FALLER KINCHELOE & CO PLC	Des Moines, IA	Offices of Certified Public Accountants	$1M – $2.5M	6.0%	12
82	CECCR OPERATIONS LLC	Sioux City, IA	Car Washes	$1M – $2.5M	4.0%	12
83	KAMAL GROUP LLC	Davenport, IA	Hotels (except Casino Hotels) and Motels	$2.5M – $5M	6.8%	12
84	EASTVOLD INVESTMENTS LLC	Cedar Rapids, IA		$250K or less	6.0%	11
85	MIDWEST MEAL PREP LLC	Ankeny, IA	Limited-Service Restaurants	$250K or less	5.8%	11
86	BAD PROPERTIES LLC	Pocahontas, IA	Full-Service Restaurants	$250K or less	3.8%	11
87	MAZOZA CORP	Eagle Grove, IA	Drinking Places (Alcoholic Beverages)	$250K – $500K	5.0%	11
88	DTK DELIVERY INC	Sergeant Bluff, IA	Couriers	$500K – $1M	5.0%	11

Note about SBA lenders near me in Iowa

When it comes to top Iowa SBA lenders, it’s a common inquiry whether any of the listed banks are 1) included in the Iowa preferred lender list, 2) approved lenders in Iowa, or 3) active participants in the Iowa SBA Express lending program. These queries center around the ability of a given SBA bank to facilitate small business SBA loans in Iowa swiftly. The answer is an unequivocal yes. These aren’t your run-of-the-mill banks making only a handful of SBA loans annually; these are institutions well-versed in the intricacies of the SBA 7(a) loan program. They stand out as the top performers in Iowa, as evidenced by our thorough analysis of thousands of SBA loans each year, leading us to rank lenders based on recent activity.

It’s crucial to note that while some banks may limit their lending to specific regions, there exist a select few highly assertive nationwide SBA lenders that operate nationally. These lenders possess a profound understanding of the SBA program and execute transactions with remarkable speed. Therefore, we advise against restricting your search solely to your home state. Our lender match tool proves invaluable in this regard. By utilizing it, we can identify suitable SBA banks tailored to your specific needs, be it geography, industry, company size, all at no cost or obligation to you. This service aims to save you valuable time and ensure a seamless SBA loan process.

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