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  • Find me a PPP lender
  • Lenders by Region
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Top SBA Lenders – SBA Loans Iowa

Published by sbalenders On February 26, 2020

Last annual update: Jan 11, 2021

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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:

Most active SBA lenders in Iowa

State RankBankBank Headquarters# of LoansAvg LoanAvg Interest
1U.S. BankCincinnati, OH98$61,8028.5%
2Wells FargoSioux Falls, SD27$267,7899.5%
3United Midwest Savings BankDe Graff, OH20$166,6007.9%
4Farmers & Merchants Savings BankManchester, IA14$571,3425.9%
5Northwest BankSpencer, IA14$378,2576.3%
6Cedar Rapids Bank and TrustCedar Rapids, IA12$485,0007.7%
7Lincoln Savings BankCedar Falls, IA12$287,6757.7%
8Bankers Trust CompanyDes Moines, IA11$193,7276.7%
9Community 1st CUOttumwa, IA10$144,2306.4%
10Newtek Small Business FinanceLake Success, NY9$364,6118.1%
11First National BankWaverly, IA8$211,5006.6%
12Farmers State BankWaterloo, IA8$134,2096.7%
13I H Mississippi Valley CUMoline, IL7$395,9296.1%
14TruBankIndianola, IA6$485,7006.1%
15First Citizens BankMason City, IA6$133,5005.8%
16Raccoon Valley BankPerry, IA6$107,0506.4%
17Stearns BankSaint Cloud, MN6$101,1678.7%
18Byline BankChicago, IL5$1,660,0008.1%
19Midwest Heritage Bank, F.S.B.West Des Moines, IA5$370,1608.0%
20United Community BankBlairsville, GA4$804,0007.5%

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Top Iowa PPP lenders (loans <$150,000)

RankBank# PPP Loans
1U.S. Bank1,597
2Northwest Bank1,291
3Farmers State Bank1,251
4United Bank of Iowa1,245
5Iowa State Bank1,167
6MidWestOne Bank1,091
7Fidelity Bank & Trust1,064
8Farm Credit Services of America1,036
9Hills Bank and Trust Company996
10First State Bank880

Top Iowa PPP lenders (loans >$150,000)

RankBank# PPP Loans
1Bankers Trust Company229
2Great Western Bank207
3West Bank198
4MidWestOne Bank197
5Farmers State Bank194
6Hills Bank and Trust Company187
7Northwest Bank173
8Cedar Rapids Bank and Trust Company171
9U.S. Bank167
10Farmers & Merchants Savings Bank133

Note: Iowa PPP loan activity data from the CARES Act from March – August and does not include Heals/Heroes Act PPP loans.

Categories: News Tags: Iowa
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