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Small Business Administration (SBA) Loans

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Start or expand your business with an SBA Loan

First National Bank is pleased to partner with the U.S. Small Business Administration (SBA) to support the financial needs of Iowa's small businesses.

Small to large loans, and wide range of purposes

Loans guaranteed by the SBA range from as little as $20,000 to as much $5 million and can be used for a wide range of business purposes, such as:

  • Woman owned businessStart-up, expansion, or acquisition of a business.
  • Purchase of long-term fixed assets, like furniture, machinery, and equipment.
  • Working capital or inventory.
  • Refinancing existing business debt not secured by real estate, such as business loans and equipment leases.
  • Purchase, refinance, or construction of owner-occupied commercial real estate.
  • Lines of credit

SBA and other small business loans

First National Bank offers a variety of loans for qualified small businesses, including SBA 7(a) and SBA 504 program loans.

  • 7(a) Loans. This is the flagship SBA loan program and includes several financing options. Business owners can apply for up to $5 million in 7(a) loans. Funds can be used for a range of purposes and repayment terms vary, making 7(a) loans the most flexible and popular loan program offered through the SBA. 
  • 504 Loans. This is a business loan that provides long-term, fixed-rate financing up to $5 million to acquire and improve major fixed assets. First National Bank partners with a certified development company (CDC) to fund 504 loans. 

Eligibility requirements

In general, eligibility for an SBA loan is based on the following. 

  • Be a for-profit business. The business must be officially registered and operate legally. 
  • Be located in the United States. The business is physically located and operates in the United States or its territories. 
  • Be creditworthy and financially sound. The business must be creditworthy and demonstrate a reasonable ability to repay the loan.  
  • Have exhausted other financing options. Not be able to obtain the desired credit on reasonable terms from non-federal, non-state, and non-local government sources.  
  • Be small under SBA's size standards
  • Not be a type of ineligible business

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How do I apply? 

To access these SBA loan programs, business owners can apply for a loan directly through First National Bank. Your lender will assist you throughout the application process and help you determine which supporting loan documents you'll need based on your individual circumstances. 

Give us a call at 515-232-5561 or 641-342-6581 or email us to get started. 

Tim FitzgibbonWant to learn more about SBA loans? 

First National Bank's SBA Loan Specialist Timothy Fitzgibbon can provide you with in-person, email, or telephone assistance.

Timothy M. Fitzgibbon

Senior Vice President, Business Development Officer 


Email Tim

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