Iowa City is Johnson County plus Washington County, 181 loans against 20, in SBA's file: 201 approvals for FY2017 to FY2026 and $85.2 million gross, rank 311 of 928; 178 are 7(a) and 23 are 504. Iowa City has a median loan of $200,000. Iowa City stands at 0.96x the national figure; in Iowa City, half of loans run $75,000 to $395,000. Brands hold 18.9% of the count, a sizable share for an area this small.

Grocery stores and gyms

In the asset table full-service restaurant leads with 13 loans, limited-service restaurant has 11, fitness center 10, and hotel and motel and grocery store 6 each; 125 loans sit outside the classes. Grocery is uncommon among leaders, so an Iowa City grocery study would weigh the size of a typical basket against thin margins and the closest rival format. Count was 16 loans and $4.1 million in FY2017, 15 loans in FY2020, a peak of 27 loans and $11.1 million in FY2024 and 19 loans and $18.8 million in FY2026, dollars far out of proportion to the count.

Lenders on file

Nicolet National Bank holds 24 loans and $5.3 million under 7(a), with U.S. Bank, National Association and Hills Bank and Trust Company at 21 loans each, worth $2.9 million and $2.8 million. Iowa Business Growth Company holds 17 loans and $14.1 million on 504. Iowa City lists name holders from SBA's records. Iowa City holders hold or held those loans. Iowa City volume is no verdict on lender practice. Iowa City counts promise no requirement.

Iowa City floors, and what the study asks

In Iowa City, cancellations ran at least 7.7%. That covers Iowa City approvals FY2017 to FY2024. Iowa City reaches 7.7% with undisbursed loans included. Iowa City charge-offs are withheld. The Iowa City cohort is too thin; Iowa City is not a zero. Iowa City floors rise if open Iowa City loans go bad. Counties build Iowa City. By name, Iowa City matches each project's county; Iowa City follows the July 2023 delineation. Iowa City drops loans with unplaceable counties, and Iowa City counts approvals outside named classes. For Iowa City, price the site's county first, then pit demand against competing supply, test debt service on a lean year and set value beside nearby sales. Daniel Smith, MAI, names each Iowa City study. Iowa City studies are prepared by Loan Analytics.

SBA loans in the Iowa City, IA Metro Area

Loans approved, FY2017 to FY2026	201
Gross dollars approved	$85.2 million
Median loan	$200,000
Middle half of loans, from	$75,000
Middle half of loans, to	$395,000
SBA 7(a) loans	178
SBA 504 loans	23
Franchise share of loans	18.9%
Rank among metro and micro areas by loans	311 of 928
Median loan against the national median	0.96x

Cancellation and charge-off

Cancelled after approval, FY2017 to FY2024 approvals (a floor)	7.7%
The same, counting loans still undisbursed as cancelled (a ceiling)	7.7%
Charged off to date, FY2017 to FY2021 disbursed loans (a floor)	withheld

Both rates are floors. SBA withholds the status of open loans, so a loan counts as charged off only once SBA reports it; a rate needs at least 30 loans in its cohort and is otherwise not reported.

SBA loans approved in the Iowa City, IA Metro Area, by fiscal year

Fiscal year	Loans	Dollars
FY2017	16	$4.1 million
FY2018	24	$7.1 million
FY2019	20	$5.3 million
FY2020	15	$5.0 million
FY2021	15	$7.3 million
FY2022	22	$13.7 million
FY2023	16	$3.8 million
FY2024	27	$11.1 million
FY2025	27	$9.1 million
FY2026	19	$18.8 million

Loans by asset class

Asset class	Loans
Not in any of the 39 asset classes	125
Full-service restaurant	13
Limited-service restaurant	11
Fitness center	10
Hotel and motel	6
Grocery store	6
Gas station and truck stop	5
Dental office	5
Coffee shop and snack bar	5

Classes with 5 or more loans; smaller ones are withheld, and more where a small one could be derived.

Most active SBA lenders

SBA 504: lenders by loans approved (the current holder of each loan, as SBA reports it)
Lender	Loans	Dollars
Iowa Business Growth Company	17	$14.1 million

SBA 7(a): lenders by loans approved (the current holder of each loan, as SBA reports it)
Lender	Loans	Dollars
Nicolet National Bank	24	$5.3 million
U.S. Bank, National Association	21	$2.9 million
Hills Bank and Trust Company	21	$2.8 million
Farmers and Merchants Savings Bank (IA, fdic-9298)	11	$2.5 million
First Interstate Bank	8	$5.4 million

Lenders with 5 or more loans here; a lender with fewer is not listed, and loans SBA or a receiver holds are counted but never listed as a lender.

Where the loans are, by county

County	Loans
Johnson County, IA	181
Washington County, IA	20

Counties with 5 or more loans; smaller ones are not listed.

Metro is the CBSA (metropolitan or micropolitan statistical area) of the loan's project county, July 2023 delineation (OMB Bulletin 23-01). The county is matched by name (manifests/ld2/county-cbsa-map.csv); a loan whose county cannot be placed in a 2023 CBSA is left out of every metro.

All assets: every 7(a) and 504 approval in the metro, including those outside the 39 asset classes.

A value marked withheld rests on fewer than 5 loans, or is withheld so that such a figure cannot be derived from other published figures.

Source: U.S. Small Business Administration, 7(a) and 504 loan-level FOIA files (data.sba.gov), as of 2026-09-30; areas from the U.S. Census Bureau CBSA delineation, July 2023 (OMB Bulletin 23-01); Loan Analytics metro cell MT-26980.

Related feasibility study pages

Loan Analytics prepares the feasibility study a lender reads before it commits: for a commercial project in the Iowa City, IA Metro Area, financed under SBA 7(a), SBA 504, USDA Business and Industry or a conventional bank loan. Tell us the project and the lender's deadline, and we reply with scope, timeline and fee.

Daniel Smith, MAI

Feasibility Study Data for the Iowa City, IA Metro Area