The U.S. Small Business Administration’s Iowa District Office has announced the winners of its top lender awards for fiscal year 2021. Included in the awards was Hills Bank and Trust as SBA Top Lender – Veteran-Owned Small Business. The Johnson County-based bank approved four loans to veteran-owned businesses for $294,600
The SBA approved 476 guaranteed loans totaling $263.1 million in FY 2021, which ended Sept. 30, 2021.
“I want to thank SBA’s participating lenders for their ongoing support of Iowa’s small business community during another challenging year for small businesses,” said Jayne Armstrong, District Director of the SBA’s Iowa District Office. “This lending is separate from the over $2.9 billion our lenders financed under the Second Round of Payroll Protection Program during fiscal year 2021. The fact that they stepped up and financed more start-ups and expansions in the middle of the COVID pandemic demonstrates how critical small business is to the Iowa economy.”
Award winners for FY 21 included:
- SBA’s Top Overall Lender – Iowa Business Growth: Iowa Business Growth approved 46 504 loans for $35,253,000.
- SBA’s Top 7(a) Lender – Lincoln Savings Bank: Lincoln Savings Bank approved 35 7(a) loans for $21,809,100.
- SBA’s Top 504 Lender – Iowa Business Growth Co.: Iowa Business Growth approved 46 504 loans for $35,253,000.
- SBA’s Top 504 Third Party Lender – Central Bank: Central Bank was a third party lender on six 504 loans for $8,872,652.
- SBA Top Lender – Women-Owned Small Business: Lincoln Savings Bank. Lincoln Savings Bank approved 7 loans to women-owned businesses for $6,413,700.
- SBA Top Lender – Veteran-Owned Small Business: Hills Bank and Trust: Hills Bank approved four loans to veteran-owned businesses for $294,600.
- SBA Top Lender – Minority-Owned Small Business – Wells Fargo Bank: Wells Fargo approved four loans to minority-owned businesses for $47,500
- SBA Top Lender – Exporting – Fortress Bank: Fortress Bank out of Illinois approved one export loans for $3,420,000.
- SBA Top Lender – Small Business Start-ups – Farmers State Bank: Farmers State Bank in Waterloo approved 19 loans to start-up businesses for $2,538,400.
- SBA Top Lender – Rural Markets – Iowa Business Growth: Iowa Business Growth approved 19 loans to rural small businesses worth $14,276,000.
- SBA Turnaround Award – Farmers State Bank : Farmers State Bank in Waterloo was selected by the SBA team based on their increase in SBA 7(a) loans from 10 loans for $3,347,800 in FY 20 to 28 loans for $4,308,500 in FY 21.
