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Buying a Business in Iowa

The Numbers

FY2025 Acquisition Loans

62

$42.4M approved

Median Loan

$338k

FY2020 through FY2025

Loans Since FY2020

337

$247M in total approvals

Share of U.S. Activity

0.9%

Of change-of-ownership loans

What the Data Says

Iowa ranks 30th of 53 states and territories for change-of-ownership SBA 7(a) lending: 337 loans since FY2020, 0.9% of the national total.

The typical deal runs small: its $338k median loan sits below the $650k midpoint across states, within reach on less equity.

Activity is accelerating: FY2025's 62 loans ran ahead of the state's own ~56 a year pace since FY2020.

The most-financed target is full-service restaurants (24 loans), and the 5 most active lenders wrote about 26% of the state's acquisitions, a broad lender field.

Most Active Acquisition Lenders in Iowa

  1. 1. Lincoln Savings Bank26 loans
  2. 2. Northwest Bank (IA)24 loans
  3. 3. Nicolet National Bank16 loans
  4. 4. Live Oak Banking Company12 loans
  5. 5. Farmers State Bank (IA)10 loans

A lender being active in Iowa does not require a local branch; several top SBA lenders work nationally. Build a shortlist with Lenders.

What Gets Bought in Iowa

  • Full-Service Restaurants24 loans
  • Hotels (except Casino Hotels) and Motels18 loans
  • Limited-Service Restaurants16 loans
  • Offices of Chiropractors14 loans
  • General Automotive Repair7 loans

Industry-specific pricing and diligence live in the Guides. Where the buyable targets sit in Iowa, by county, is in the Iowa buying guide.

By Metro Area in Iowa

  • Omaha, NE-IA

    124 purchase loans, median $549k. Bought most: Full-Service Restaurants. Most active lender: First National Bank of Omaha (15).

  • Des Moines-West Des Moines, IA

    96 purchase loans, median $276k. Bought most: Full-Service Restaurants. Most active lender: Lincoln Savings Bank (12).

  • Davenport-Moline-Rock Island, IA-IL

    47 purchase loans, median $450k. Bought most: Hotels (except Casino Hotels) and Motels. Most active lender: IH Mississippi Valley Credit Union (6).

  • Cedar Rapids, IA

    35 purchase loans, median $725k. Bought most: Automobile and Other Motor Vehicle Merchant Wholesalers. Most active lender: Cedar Rapids Bank and Trust Company (5).

  • Waterloo-Cedar Falls, IA

    20 purchase loans, median $306k. Bought most: Full-Service Restaurants. Most active lender: Lincoln Savings Bank (6).

Every metro area that drew 20 purchase loans, with three lenders each, is in the metro table.

Method & Source

Computed from the SBA 7(a) FOIA loan-level dataset (FY2020 through FY2025), filtered to approvals flagged change of ownership with a Iowa project address. Approvals, not closings; excludes conventional and 504 financing.