Lending data
Who actually lends to personal service and repair businesses in Iowa?
144 SBA 7(a) loans went to personal service and repair businesses in Iowa recently, at a median of $137,750. Here are the lenders that made them, ranked.
144 SBA 7(a) loans went to personal service and repair businesses in Iowa in the most recent fiscal years. The median was $137,750 over 10 years. The most active lender was U.S. Bank, with 38 loans.
What lending to personal service and repair 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 | Personal and repair services, Iowa | All 7(a) borrowers |
|---|---|---|
| Loans approved | 144 | 214,102 |
| Median loan | $137,750 | $150,000 |
| 25th - 75th percentile | $50,000 - $289,350 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.50% | 10.25% |
| Share to startups | 39.6% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 4.7% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to personal service and repair 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 |
|---|---|---|---|---|
| U.S. Bank | 38 | $33,500 | 29% | 9.74% |
| Farmers State Bank | 11 | $85,000 | 46% | 9.18% |
| Northwest Bank | 9 | $194,300 | 56% | 8.65% |
| Nicolet National Bank | 6 | $129,800 | 17% | 10.50% |
| The Huntington National Bank | 5 | $230,000 | 60% | 10.50% |
| Newtek Bank | 5 | $200,000 | 20% | 11.50% |
| Lincoln Savings Bank | 4 | $369,950 | 50% | 10.88% |
| Farmers and Merchants Savings Bank | 3 | $100,000 | 67% | 9.00% |
| Clear Lake Bank & Trust Company | 3 | $220,000 | 67% | 7.25% |
| BayFirst National Bank | 3 | $150,000 | 0% | 13.25% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $137,750 is within a few percent of the $150,000 national median across all 7(a) borrowers, so nothing about this market is unusual on size.
- Startup share is about average, at 40% against 34% nationally.
- One lender dominates. U.S. Bank alone made 26% of these loans, and the top three made 40%. That concentration usually means a lender with a dedicated program for this sector — worth starting there, but get a second quote so you know the terms are competitive.
- Rates run lower here. The median initial rate of 9.50% is 0.75 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
- This market has performed well. Its FY2010-2019 charge-off rate of 4.7% is below the 7.1% overall figure, which is part of why lenders compete for it.
Which of them lend to new businesses
Of those loans, 39.6% 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 |
|---|---|---|---|---|
| U.S. Bank | 11 | $33,500 | 29% | 9.74% |
| Northwest Bank | 5 | $194,300 | 56% | 8.65% |
| Farmers State Bank | 5 | $85,000 | 46% | 9.18% |
| The Huntington National Bank | 3 | $230,000 | 60% | 10.50% |
| Farmers and Merchants Savings Bank | 2 | $100,000 | 67% | 9.00% |
| Clear Lake Bank & Trust Company | 2 | $220,000 | 67% | 7.25% |
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, retail, healthcare, arts and recreation, manufacturing
- Personal Services in comparable states: Alabama, Kansas, Louisiana, Oklahoma, Nebraska, Maine