Financing Designed for Iowa Business Owners
FSB offers SBA small business loans to help you expand, purchase equipment, or start a new venture. Backed by the U.S. Small Business Administration, our programs provide flexible financing with local support. Apply1 online today or connect with a lender to get started!
Explore SBA Small Business Loan Options
Flexible financing for Iowa businesses designed with specific needs in mind.
SBA 7(a) Loans
Access up to $5 million in business financing to acquire or expand.1
Key Details:
- Loan amounts up to $5 million
- Longer repayment terms
- Flexible repayment structures to fit your cash flow situation
SBA 504 Loans
For real estate or equipment purchases, offering loans up to $10 million.1
Key Details:
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Up to $10 million for real estate
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Up to $5 million for equipment
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Long-term, fixed-rate financing
SBA Microloans
Supporting small businesses with loans up to $50,000, ideal for startups.1
Key Details:
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Loans up to $50,000
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Ideal for startups and small business expansion
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Flexible repayment terms
Why Choose an SBA Loan with FSB?
An SBA loan can be the difference between putting your plans on hold and moving your business forward. SBA loans are designed to make financing more accessible to small business owners by reducing risk for lenders. That means more options for you, often with lower down payments and longer repayment terms compared to conventional loans.
Competitive Rates & Terms
Keep borrowing costs manageable with rates and repayment terms designed for small businesses.
Lower Down Payment Options
Preserve cash flow by putting down less money up front for the loan.
Flexible Overhead Requirements
Qualify even if traditional fixed-cost requirements are more complex to meet.
Streamlined Loan Approvals
Move forward faster with local decision-making and responsive support.
SBA Loan Process in 4 Steps
Our Iowa-based lenders guide you from prequalification to funding. Click each step to learn more.
- Step 1: Prequalification
- Step 2: Application
- Step 3: SBA Review
- Step 4: Approval & Funding
Step 1: Prequalification with a Lender
Meet with a local lender to discuss goals, cash flow, and how funds will be used. We review eligibility and recommend the best fit, whether 7(a), 504, or Microloan. This sets clear expectations before you apply.
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Discuss the use of funds and the timeline
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Review credit, collateral, and eligibility
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Select the SBA program that aligns with your needs
Step 2: Application Submission
Complete the application and submit documents that show your business strength and ability to repay. To apply for a small business loan with FSB, prepare the following:
A summary of your financing request
3 years of business taxes & projections
Personal finances & tax returns for key stakeholders
Step 3: SBA Review and Guarantee
After bank underwriting, we request the SBA guarantee. The SBA does not lend directly. The guarantee lowers lender risk and supports favorable terms for you.
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Bank underwrites and confirms eligibility
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SBA guarantee is requested and issued
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Final conditions are reviewed and resolved
Step 4: Final Approval and Funding
We finalize loan terms and close. Funds are disbursed based on your use of proceeds. You receive a clear repayment schedule and support after closing.
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Close loan and sign documents
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Disburse funds as lump sum or draws
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Begin repayment, stay in touch with your lender
Common Uses for Small Business Loans
SBA loans are flexible. Iowa business owners use them to fund operations, invest in growth, and manage debt.
Businesses Can Use SBA Loans For:
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Working Capital: Cover payroll, rent, or other operating expenses.
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Equipment Purchases: Invest in machinery, vehicles, or tools to improve efficiency.
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Real Estate: Buy, build, or renovate facilities for your operations.
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Business Expansion: Open a new location or grow your workforce.
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Debt Refinancing: Consolidate higher-interest debt into one manageable payment.
We opened our doors in 2006, and our business has grown exponentially. FSB helped us get started and has supported us every step along the way.- Justin & Sara W.
Frequently Asked Questions: SBA Loans
Get quick answers to common questions about SBA small business loans in Iowa.
What qualifies you for an SBA loan?
To qualify for an SBA loan in Iowa, your business must be:
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Located and operating in Iowa
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A for-profit entity
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Registered and legally structured
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Able to demonstrate repayment ability
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Within SBA size standards
You’ll also need a solid business plan and good personal credit. Most industries are eligible, but some restrictions apply. FSB helps Eastern Iowa businesses navigate the process with local expertise and personal guidance.
What is the easiest SBA loan to get?
The SBA Microloan is the easiest SBA loan to qualify for. It’s ideal for startups, small businesses, and nonprofits needing up to $50,000. Microloans have:
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Flexible credit requirements
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Shorter approval times
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Local decision-making
FSB offers SBA Microloans with personalized support and fast turnaround. We’re based in Marion and serve Cedar Rapids, Iowa City, and surrounding communities.
What is the downside to an SBA loan?
SBA loans offer great rates and long terms, but there are trade-offs:
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Longer approval times than conventional loans
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More paperwork and documentation
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Personal guarantees often required
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Use restrictions on funds
FSB helps simplify the process and reduce delays. Our team walks you through every step, so you know what to expect.
What down payment is required for an SBA loan?
Most SBA loans require a down payment of 10% to 20%. The exact amount depends on:
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Loan type
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Business history
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Collateral
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Credit profile
Microloans may require less. FSB works with you to find the best fit and minimize upfront costs.
How long does it take to get approved for an SBA loan?
Approval times vary, but here’s a general timeline:
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Microloans: 2–3 weeks
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Standard SBA 7(a): 4–6 weeks
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SBA 504: 6–8 weeks
FSB speeds up the process with local underwriting and direct communication. We keep you informed from start to finish.
Choose FSB As Your Iowa SBA Lender
With in-house decision-making, flexible financing options, and local lending experts, FSB makes securing the right funding in Eastern Iowa easy, so you can focus on growing your business.
Ready to Apply For a Small Business Loan?
Complete FSB’s simple business inquiry form linked below, and a business lender will reach out for additional information.1
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