This story originally appeared on Flippa and was produced and distributed in partnership with Stacker Studio.
Counties receiving the most SBA loans in Iowa
The Small Business Administration backed loans worth $27.5 billion through its primary lending program in 2023—rising well above pre-COVID-19 pandemic levels as government officials aim to stabilize the economy.
Many small businesses get their start and scale up with SBA loans, which increased lending to Black, Latino, and women entrepreneurs in the past few years in step with efforts to become more equitable.
Flippa found the county in Iowa where applicants were approved for the most SBA loan funds per capita in fiscal year 2023, which ended in September. The analysis was based on the SBA's most common loan program, known as 7(a) loans. SBA's 7(a) program provides extra security to lenders when they loan money to small businesses that might otherwise be considered too risky to grant. Loans can be for up to $5 million, but in 2023, nearly 7 in 10 loans were for amounts of $350,000 or less. Small businesses can use these funds for real estate acquisitions or improvements, working capital, supplies and equipment, and for other business startup or acquisition purposes.
Barriers do still exist for eligibility, including income, credit history, and location, but SBA loans can be fruitful for founders who don't qualify for conventional business financing. They can also provide protection against high and volatile interest rates, as SBA-backed loans have maximum interest rates that are predictable and often lower than other loans.
In a national analysis of the #1 ranked counties in every state, all but two counties had populations of less than 500,000—most smaller than 100,000. That's not surprising, as the Census Bureau classifies about 99% of U.S. counties as small. Still, it signifies that these smaller communities are building successful entrepreneurial environments. In most cases, their small businesses are able to succeed beyond those within the major U.S. population centers—at least in terms of success in gaining SBA funding.
Read on to see whether your county ranks among those receiving the most SBA loans.
#50. Des Moines County
- SBA approved about $2.22 per resident in 7(a) loans in 2023.
- Total approved funds: $86,700
- Number of loans: 1
#49. Winnebago County
- SBA approved about $3.57 per resident in 7(a) loans in 2023.
- Total approved funds: $38,400
- Number of loans: 2
#48. Ringgold County
- SBA approved about $3.80 per resident in 7(a) loans in 2023.
- Total approved funds: $18,000
- Number of loans: 1
#47. Marshall County
- SBA approved about $4.48 per resident in 7(a) loans in 2023.
- Total approved funds: $180,000
- Number of loans: 1
#46. Dickinson County
- SBA approved about $5.53 per resident in 7(a) loans in 2023.
- Total approved funds: $97,000
- Number of loans: 1
#45. Henry County
- SBA approved about $7.07 per resident in 7(a) loans in 2023.
- Total approved funds: $144,900
- Number of loans: 1
#44. Davis County
- SBA approved about $8.27 per resident in 7(a) loans in 2023.
- Total approved funds: $75,000
- Number of loans: 1
#43. Greene County
- SBA approved about $8.49 per resident in 7(a) loans in 2023.
- Total approved funds: $75,000
- Number of loans: 1
#42. Scott County
- SBA approved about $10.64 per resident in 7(a) loans in 2023.
- Total approved funds: $1.9 million
- Number of loans: 5
#41. Johnson County
- SBA approved about $11.37 per resident in 7(a) loans in 2023.
- Total approved funds: $1.7 million
- Number of loans: 14
#40. Guthrie County
- SBA approved about $11.69 per resident in 7(a) loans in 2023.
- Total approved funds: $123,900
- Number of loans: 2
#39. Cherokee County
- SBA approved about $12.92 per resident in 7(a) loans in 2023.
- Total approved funds: $150,000
- Number of loans: 1
#38. Webster County
- SBA approved about $13.33 per resident in 7(a) loans in 2023.
- Total approved funds: $494,700
- Number of loans: 3
#37. Iowa County
- SBA approved about $14.24 per resident in 7(a) loans in 2023.
- Total approved funds: $236,300
- Number of loans: 2
#36. Warren County
- SBA approved about $14.88 per resident in 7(a) loans in 2023.
- Total approved funds: $771,700
- Number of loans: 4
#35. Ida County
- SBA approved about $15.45 per resident in 7(a) loans in 2023.
- Total approved funds: $107,800
- Number of loans: 2
#34. Story County
- SBA approved about $16.04 per resident in 7(a) loans in 2023.
- Total approved funds: $1.6 million
- Number of loans: 10
#33. Cerro Gordo County
- SBA approved about $18.12 per resident in 7(a) loans in 2023.
- Total approved funds: $782,500
- Number of loans: 7
#32. Dubuque County
- SBA approved about $21.01 per resident in 7(a) loans in 2023.
- Total approved funds: $2.1 million
- Number of loans: 7
#31. Muscatine County
- SBA approved about $22.17 per resident in 7(a) loans in 2023.
- Total approved funds: $956,500
- Number of loans: 4
#30. Mahaska County
- SBA approved about $22.56 per resident in 7(a) loans in 2023.
- Total approved funds: $499,400
- Number of loans: 2
#29. Buchanan County
- SBA approved about $24.27 per resident in 7(a) loans in 2023.
- Total approved funds: $500,000
- Number of loans: 1
#28. Cedar County
- SBA approved about $24.55 per resident in 7(a) loans in 2023.
- Total approved funds: $454,000
- Number of loans: 3
#27. Woodbury County
- SBA approved about $25.92 per resident in 7(a) loans in 2023.
- Total approved funds: $2.7 million
- Number of loans: 4
#26. Plymouth County
- SBA approved about $26.82 per resident in 7(a) loans in 2023.
- Total approved funds: $685,000
- Number of loans: 2
#25. Crawford County
- SBA approved about $32.73 per resident in 7(a) loans in 2023.
- Total approved funds: $541,900
- Number of loans: 3
#24. Buena Vista County
- SBA approved about $34.51 per resident in 7(a) loans in 2023.
- Total approved funds: $715,200
- Number of loans: 1
#23. Bremer County
- SBA approved about $35.25 per resident in 7(a) loans in 2023.
- Total approved funds: $876,500
- Number of loans: 6
#22. Floyd County
- SBA approved about $35.41 per resident in 7(a) loans in 2023.
- Total approved funds: $555,000
- Number of loans: 2
#21. Jackson County
- SBA approved about $35.44 per resident in 7(a) loans in 2023.
- Total approved funds: $691,000
- Number of loans: 2
#20. Winneshiek County
- SBA approved about $35.82 per resident in 7(a) loans in 2023.
- Total approved funds: $720,000
- Number of loans: 1
#19. Benton County
- SBA approved about $40.94 per resident in 7(a) loans in 2023.
- Total approved funds: $1.1 million
- Number of loans: 6
#18. Dallas County
- SBA approved about $43.64 per resident in 7(a) loans in 2023.
- Total approved funds: $4.2 million
- Number of loans: 11
#17. Linn County
- SBA approved about $45.20 per resident in 7(a) loans in 2023.
- Total approved funds: $10.3 million
- Number of loans: 33
#16. Jasper County
- SBA approved about $46.68 per resident in 7(a) loans in 2023.
- Total approved funds: $1.8 million
- Number of loans: 7
#15. Black Hawk County
- SBA approved about $46.98 per resident in 7(a) loans in 2023.
- Total approved funds: $6.2 million
- Number of loans: 15
#14. Kossuth County
- SBA approved about $53.63 per resident in 7(a) loans in 2023.
- Total approved funds: $795,000
- Number of loans: 2
#13. Clay County
- SBA approved about $58.93 per resident in 7(a) loans in 2023.
- Total approved funds: $967,000
- Number of loans: 1
#12. Polk County
- SBA approved about $61.59 per resident in 7(a) loans in 2023.
- Total approved funds: $30.1 million
- Number of loans: 75
#11. Madison County
- SBA approved about $63.06 per resident in 7(a) loans in 2023.
- Total approved funds: $1.0 million
- Number of loans: 2
#10. Mills County
- SBA approved about $68.00 per resident in 7(a) loans in 2023.
- Total approved funds: $996,800
- Number of loans: 2
#9. Boone County
- SBA approved about $69.87 per resident in 7(a) loans in 2023.
- Total approved funds: $1.9 million
- Number of loans: 2
#8. Clinton County
- SBA approved about $82.48 per resident in 7(a) loans in 2023.
- Total approved funds: $3.8 million
- Number of loans: 10
#7. O'Brien County
- SBA approved about $106.80 per resident in 7(a) loans in 2023.
- Total approved funds: $1.5 million
- Number of loans: 1
#6. Appanoose County
- SBA approved about $108.92 per resident in 7(a) loans in 2023.
- Total approved funds: $1.3 million
- Number of loans: 10
#5. Wapello County
- SBA approved about $118.87 per resident in 7(a) loans in 2023.
- Total approved funds: $4.2 million
- Number of loans: 8
#4. Clayton County
- SBA approved about $123.80 per resident in 7(a) loans in 2023.
- Total approved funds: $2.1 million
- Number of loans: 4
#3. Humboldt County
- SBA approved about $135.89 per resident in 7(a) loans in 2023.
- Total approved funds: $1.3 million
- Number of loans: 3
#2. Allamakee County
- SBA approved about $177.71 per resident in 7(a) loans in 2023.
- Total approved funds: $2.5 million
- Number of loans: 1
#1. Chickasaw County
- SBA approved about $207.00 per resident in 7(a) loans in 2023.
- Total approved funds: $2.5 million
- Number of loans: 6
This story features data reporting and writing by Paxtyn Merten and is part of a series utilizing data automation across 50 states.
