Lending data
Who actually lends to farms and agricultural businesses in Iowa?
20 SBA 7(a) loans went to farms and agricultural businesses in Iowa recently, at a median of $200,000. Here are the lenders that made them, ranked.
20 SBA 7(a) loans went to farms and agricultural businesses in Iowa in the most recent fiscal years. The median was $200,000 over 10 years. The most active lender was Hills Bank and Trust Company, with 3 loans.
What lending to farms and agricultural businesses in Iowa actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Agriculture and farming, Iowa | All 7(a) borrowers |
|---|---|---|
| Loans approved | 20 | 214,102 |
| Median loan | $200,000 | $150,000 |
| 25th - 75th percentile | $103,750 - $461,250 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 8.72% | 10.25% |
| Share to startups | 60.0% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 6.0% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to farms and agricultural businesses in Iowa. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Hills Bank and Trust Company | 3 | $200,000 | 0% | 7.25% |
| United Bank of Iowa | 2 | $75,000 | 100% | 6.88% |
| First Service Bank | 2 | $812,500 | 100% | 9.40% |
| American Bank and Trust | 2 | $1,550,000 | 100% | 8.50% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $200,000 is 33% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- New businesses do well here. 60% of these loans went to startups or businesses under two years old, against 34% nationally — an unusually open market if you have no trading history.
- No single lender dominates, but the top three made 35% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 8.72% is 1.53 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
Which of them lend to new businesses
Of those loans, 60.0% went to businesses the SBA classes as startups — new, under two years old, or opening with the proceeds. These are the lenders in this market that actually wrote them.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| United Bank of Iowa | 2 | $75,000 | 100% | 6.88% |
| First Service Bank | 2 | $812,500 | 100% | 9.40% |
| American Bank and Trust | 2 | $1,550,000 | 100% | 8.50% |
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in Iowa: restaurants and hotels, construction, personal services, retail, healthcare, arts and recreation
- Agriculture in comparable states: Arizona, Virginia, Tennessee, New Hampshire, Colorado, Massachusetts