SBA Lenders in Iowa
Top lenders ranked by real SBA lending data. See who's most active in Iowa across deal count, loan size, and pricing.
What Borrowers Should Know
Iowa's median 7(a) spread of P+2.12% is 63 basis points tighter than the national median of P+2.75%, meaning borrowers here pay materially lower interest rates on SBA loans. This pricing advantage likely reflects U.S. Bank's dominance (627 of 1,986 deals—32% of the market), which typically operates with tighter spreads due to scale and rural lending infrastructure.
Black Hawk Economic Development's 182 deals (9% of state volume) signals strong local development organization support, but also reveals potential concentration risk: the top 2 lenders control 41% of Iowa's SBA lending. If you're seeking a smaller, community-focused lender, your options narrow quickly—shop aggressively to avoid being price-squeezed by dominant players.
Iowa's average deal size of $364,765 is well below the national 7(a) average (~$530K), indicating the state's SBA lending skews toward smaller businesses and rural enterprises. If your loan request exceeds $500K, expect fewer lender options and potentially less competitive terms, as Iowa lenders are operationally tuned for smaller deals.
Total SBA Loans
2,064
Active Lenders
126
Avg Deal Size
$362K
Total Volume
$747.0M
Top 10 Lenders in Iowa
Ranked by total deal count across all SBA programs.
| # | Lender | Type | Deals | Avg Size | Spread | |
|---|---|---|---|---|---|---|
| 1 | U.S. Bank, National Association | Bank | 248 | $60K | P + 2.75%AVERAGE | |
| 2 | Wells Fargo Bank National Association | Bank | 96 | $65K | P + 2.75%AVERAGE | |
| 3 | Farmers State Bank | Bank | 80 | $202K | P + 1.79%GOOD | |
| 4 | Iowa Business Growth Company | CDC/504 | 72 | $502K | — | |
| 5 | Cedar Rapids Bank and Trust Company | Bank | 52 | $564K | P + 2.50%AVERAGE | |
| 6 | Hills Bank and Trust Company | Bank | 50 | $117K | P + 1.75%GOOD | |
| 7 | Northwest Bank | Bank | 42 | $456K | P + 2.34%AVERAGE | |
| 8 | Bankers Trust Company | Bank | 42 | $431K | P + 2.75%AVERAGE | |
| 9 | Black Hawk Economic Developmen | CDC/504 | 39 | $532K | — | |
| 10 | Lincoln Savings Bank | Bank | 39 | $699K | P + 2.75%AVERAGE |
Top Industries in Iowa
SBA lending activity by industry segment.