Lending data
Who actually lends to retail businesses in Iowa?
137 SBA 7(a) loans went to retail businesses in Iowa recently, at a median of $150,000. Here are the lenders that made them, ranked.
137 SBA 7(a) loans went to retail businesses in Iowa in the most recent fiscal years. The median was $150,000 over 10 years. The most active lender was Community 1st CU, with 10 loans.
What lending to retail 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 | Retail, Iowa | All 7(a) borrowers |
|---|---|---|
| Loans approved | 137 | 214,102 |
| Median loan | $150,000 | $150,000 |
| 25th - 75th percentile | $66,350 - $292,500 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 9.50% | 10.25% |
| Share to startups | 46.0% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 9.3% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to retail 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 |
|---|---|---|---|---|
| Community 1st CU | 10 | $70,350 | 80% | 6.77% |
| U.S. Bank | 10 | $50,000 | 50% | 10.62% |
| Wells Fargo Bank | 6 | $15,000 | 100% | 12.12% |
| Nicolet National Bank | 6 | $167,000 | 33% | 10.25% |
| Bank Iowa | 6 | $104,850 | 17% | 7.92% |
| Northeast Bank | 6 | $102,450 | 33% | 10.25% |
| United Bank of Iowa | 5 | $60,500 | 20% | 8.00% |
| Lincoln Savings Bank | 5 | $175,000 | 80% | 10.00% |
| Farmers State Bank | 5 | $125,000 | 40% | 8.50% |
| TruBank | 4 | $300,000 | 0% | 7.38% |
What stands out in this market
Reading the figures above against the national picture:
- Loan sizes are typical. The median of $150,000 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.
- New businesses do well here. 46% 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.
- Lending here is fragmented. The top three lenders made only 19% of these loans between them, so no single institution owns this market. That is good news: it means shopping genuinely pays.
- 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.
- Lenders have been burned here before. 9.3% of loans to this market from the FY2010-2019 cohorts were charged off, against 7.1% overall. That history is why underwriting in this sector is tighter than the numbers alone would suggest — it is not personal.
Which of them lend to new businesses
Of those loans, 46.0% 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 |
|---|---|---|---|---|
| Community 1st CU | 8 | $70,350 | 80% | 6.77% |
| Wells Fargo Bank | 6 | $15,000 | 100% | 12.12% |
| U.S. Bank | 5 | $50,000 | 50% | 10.62% |
| Lincoln Savings Bank | 4 | $175,000 | 80% | 10.00% |
| United Midwest Savings Bank | 4 | $150,000 | 100% | 10.88% |
| Farmers and Merchants Savings Bank | 3 | $250,000 | 100% | 9.75% |
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, healthcare, arts and recreation, manufacturing
- Retail in comparable states: Mississippi, Arkansas, Kansas, Maine, Nebraska, Alabama