Last annual update:
A lot of Iowa-based banks were among the largest lenders to “The Hawkeye State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a restaurant, auto repair, medical practice, funeral home, veterinary or hotel, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top SBA Lenders in Iowa:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | Wells Fargo | Sioux Falls, SD | 25 | $221,868 | 9.0% |
| 2 | U.S. Bank | Cincinnati, OH | 24 | $103,617 | 7.8% |
| 3 | Bankers Trust Company | Des Moines, IA | 15 | $181,173 | 7.0% |
| 4 | Cedar Rapids Bank and Trust | Cedar Rapids, IA | 14 | $476,071 | 6.7% |
| 5 | Northwest Bank | Spencer, IA | 14 | $294,521 | 6.3% |
| 6 | Independence Bank | East Greenwich, RI | 13 | $123,077 | 6.2% |
| 7 | Bank of the West | San Francisco, CA | 12 | $237,917 | 7.5% |
| 8 | Community 1st CU | Ottumwa, IA | 11 | $71,245 | 6.1% |
| 9 | Farmers State Bank | Marion, IA | 9 | $124,956 | 6.7% |
| 10 | Great Western Bank | Sioux Falls, SD | 9 | $610,279 | 6.4% |
| 11 | Stearns Bank | Saint Cloud, MN | 9 | $183,611 | 7.5% |
| 12 | First Citizens Bank | Mason City, IA | 7 | $113,629 | 6.0% |
| 13 | First Home Bank | Seminole, FL | 7 | $311,171 | 7.7% |
| 14 | Farmers State Bank | Waterloo, IA | 6 | $121,667 | 5.9% |
| 15 | Lincoln Savings Bank | Cedar Falls, IA | 6 | $2,075,550 | 7.5% |