Lending data
Who actually lends to manufacturers in Iowa?
79 SBA 7(a) loans went to manufacturers in Iowa recently, at a median of $275,000. Here are the lenders that made them, ranked.
79 SBA 7(a) loans went to manufacturers in Iowa in the most recent fiscal years. The median was $275,000 over 10 years. The most active lender was U.S. Bank, with 9 loans.
What lending to manufacturers 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 | Manufacturing, Iowa | All 7(a) borrowers |
|---|---|---|
| Loans approved | 79 | 214,102 |
| Median loan | $275,000 | $150,000 |
| 25th - 75th percentile | $90,400 - $735,000 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.00% | 10.25% |
| Share to startups | 34.2% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 6.7% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to manufacturers 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 |
|---|---|---|---|---|
| U.S. Bank | 9 | $25,000 | 44% | 8.99% |
| Northwest Bank | 6 | $192,500 | 83% | 9.40% |
| Readycap Lending, LLC | 5 | $500,000 | 20% | 11.25% |
| City State Bank | 4 | $900,000 | 0% | 6.62% |
| TowneBank | 3 | $370,600 | 0% | 9.00% |
| Lincoln Savings Bank | 3 | $250,000 | 33% | 10.25% |
| Bank Iowa | 3 | $327,500 | 0% | 7.25% |
| Pathward | 3 | $450,000 | 100% | 9.00% |
| Bankers Trust Company | 3 | $150,000 | 0% | 9.50% |
| First Bank | 2 | $211,750 | 100% | 7.44% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $275,000 is 83% 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.
- Startup share is about average, at 34% against 34% nationally.
- No single lender dominates, but the top three made 25% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.00% is 1.25 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, 34.2% 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 |
|---|---|---|---|---|
| Northwest Bank | 5 | $192,500 | 83% | 9.40% |
| U.S. Bank | 4 | $25,000 | 44% | 8.99% |
| Pathward | 3 | $450,000 | 100% | 9.00% |
| First Bank | 2 | $211,750 | 100% | 7.44% |
| Community 1st CU | 2 | $249,700 | 100% | 7.89% |
| Farmers State Bank | 2 | $450,000 | 100% | 8.10% |
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
- Manufacturing in comparable states: Alabama, Louisiana, Maine, Kansas, Oklahoma, Kentucky