Iowa — PPP Loan Data
171,716 approved loans · $8.09B total · 98.0% forgiven
Iowa ranked among the states receiving PPP assistance during the COVID-19 pandemic. In total, the SBA approved 171,716 loans totaling $8.09B to businesses and organizations across the state. The average loan size was $47,084.
Of all approved loans, 168,334 — or 98.0% — received SBA forgiveness totaling $8.04B. Forgiveness means the borrower was not required to repay that portion, having met the program's requirements for maintaining payroll and using funds for qualified expenses such as rent, utilities, and mortgage interest.
Among the largest recipients in Iowa were VOGEL PAINT, INC ($10,000,000), ITA GROUP, INC. ($10,000,000), and MITTERA GROUP, INC. ($10,000,000).
Borrowers in Iowa reported retaining 910,679 jobs through the program, though job counts are self-reported and were not independently verified at the time of application. The state's businesses spanned a wide range of industries, from construction and hospitality to professional services and health care.
The most active industry in Iowa by loan count was Oilseed and Grain Farming with 42,732 loans totaling $745.8M. This was followed by Cattle Ranching and Farming (15,833 loans).
The most active lender in Iowa was UNITED BANK OF IOWA, which originated 4,334 loans worth $95.2M. The top 10 lenders collectively handled a significant portion of the state's total loan volume, reflecting the role of large national banks as primary conduits for PPP funds.
Loans under $150,000 — which make up the majority of loan count — have borrower names withheld under FOIA Exemption 6. Only the approximately 0.0% of loans at or above that threshold have named recipients publicly disclosed.
Top Cities in Iowa
| City | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| DES MOINES | 5,603 | $618.7M | 92.6% |
| CEDAR RAPIDS | 4,644 | $469.6M | 91.5% |
| DAVENPORT | 3,119 | $290.5M | 91.6% |
| DUBUQUE | 2,732 | $236.1M | 94.5% |
| WEST DES MOINES | 2,633 | $264.2M | 97.5% |
| SIOUX CITY | 2,570 | $220.3M | 97.1% |
| IOWA CITY | 2,314 | $151.7M | 93.8% |
| WATERLOO | 2,283 | $172.3M | 90.6% |
| ANKENY | 1,699 | $114.7M | 97.0% |
| URBANDALE | 1,683 | $157.7M | 96.9% |
| AMES | 1,533 | $121.6M | 97.3% |
| CEDAR FALLS | 1,498 | $104.4M | 98.3% |
| COUNCIL BLUFFS | 1,487 | $100.0M | 96.6% |
| CARROLL | 1,421 | $51.7M | 99.1% |
| LE MARS | 1,250 | $52.0M | 99.5% |
| MASON CITY | 1,164 | $71.7M | 97.5% |
| DECORAH | 1,146 | $58.6M | 99.5% |
| BETTENDORF | 1,146 | $109.4M | 97.0% |
| MARION | 1,034 | $74.6M | 94.7% |
| FORT DODGE | 1,024 | $67.9M | 97.7% |
| BURLINGTON | 979 | $66.0M | 90.2% |
| OTTUMWA | 914 | $49.9M | 96.2% |
| CLIVE | 901 | $89.7M | 97.9% |
| MUSCATINE | 895 | $45.0M | 98.4% |
| ALGONA | 886 | $35.1M | 97.5% |
Top Industries
| Industry | Loans | Total |
|---|---|---|
| Oilseed and Grain Farming | 42,732 | $745.8M |
| Cattle Ranching and Farming | 15,833 | $252.3M |
| Personal Care Services | 6,857 | $93.0M |
| General Freight Trucking | 5,540 | $187.4M |
| Accommodation and Food Services | 4,653 | $354.1M |
| Residential Building Construction | 4,304 | $109.0M |
| Hog and Pig Farming | 3,671 | $94.1M |
| Services to Buildings and Dwellings | 3,343 | $98.2M |
| Automotive Repair and Maintenance | 3,106 | $100.8M |
| Child Day Care Services | 2,875 | $63.1M |
Top Lenders
| Lender | Loans | Total |
|---|---|---|
| UNITED BANK OF IOWA | 4,334 | $95.2M |
| NORTHWEST BANK | 4,197 | $232.3M |
| IOWA STATE BANK | 3,873 | $152.3M |
| FIDELITY BANK & TRUST | 3,545 | $108.0M |
| FARMERS STATE BANK | 3,456 | $218.9M |
| MIDWESTONE BANK | 3,440 | $277.8M |
| FARM CREDIT SERVICES OF AMERICA, ACA | 3,370 | $83.7M |
| BANK IOWA | 3,282 | $131.1M |
| U.S. BANK | 2,992 | $218.7M |
| AMERICAN STATE BANK | 2,626 | $113.4M |
Largest Named Recipients in Iowa
Showing loans ≥ $150,000 with publicly disclosed borrower names.