SBA 7(a) lenders in Lee, IA
Approvals in SBA fiscal years 2008–2024. Source data as of 2026-06-30.
Lenders
15 institutions have SBA 7(a) loans on record in Lee, together $9.9M across 18 loans. Alerus Financial, National Association is the largest, with 32% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | Alerus Financial, National Association | 1 | $3.2M | 32.5% | 0.00% |
| 2 | The Huntington National Bank | 1 | $2.0M | 20.6% | 0.00% |
| 3 | Bell Bank | 1 | $1.4M | 14.2% | 0.00% |
| 4 | Byline Bank | 1 | $772K | 7.8% | 0.00% |
| 5 | Pilot Grove Savings Bank | 2 | $569K | 5.7% | 0.00% |
| 6 | Bank of Franklin County | 1 | $414K | 4.2% | 0.00% |
| 7 | First Mid Bank & Trust, National Association | 1 | $370K | 3.7% | 0.00% |
| 8 | Newtek Small Business Finance, Inc. | 1 | $300K | 3.0% | 0.00% |
| 9 | State Central Bank | 3 | $295K | 3.0% | 11.32% |
| 10 | Northeast Bank | 1 | $250K | 2.5% | 0.00% |
| 11 | BANK | 1 | $125K | 1.3% | 0.00% |
| 12 | First National Bank | 1 | $80K | 0.8% | 0.00% |
| 13 | Community 1st CU | 1 | $58K | 0.6% | 0.00% |
| 14 | U.S. Bank, National Association | 1 | $20K | 0.2% | 0.00% |
| 15 | VelocitySBA, LLC | 1 | $5K | 0.1% | 86.95% |
Loss rates cover every approval year on record together. SBA 7(a) losses peak two to four years after approval, so a lender whose lending is mostly recent will show a low rate because its loans have not aged yet, not because they are performing better.
What the money went into
| Rank | Industry | Loans | Approved | Share of county |
|---|---|---|---|---|
| 1 | Accommodation & food services | 6 | $6.3M | 63.4% |
| 2 | Health care & social assistance | 1 | $1.4M | 14.2% |
| 3 | Retail trade | 3 | $1.2M | 11.6% |
| 4 | Transportation & warehousing | 4 | $449K | 4.5% |
| 5 | Agriculture, forestry & fishing | 1 | $300K | 3.0% |
| 6 | Construction | 1 | $250K | 2.5% |
| 7 | Arts, entertainment & recreation | 1 | $58K | 0.6% |
| 8 | Other services | 1 | $20K | 0.2% |
Industry is the borrower’s NAICS sector as recorded by SBA at approval, grouped to the two-digit sector.
About this data
Built from the U.S. Small Business Administration’s 7(a) FOIA data release, a public record covering approvals from fiscal year 2008 onward and refreshed each quarter. SBA fiscal years end 30 September, so the most recent year is partial. Figures are approvals, not outstanding balances, and SBA attributes each loan to the institution that holds it today rather than the one that originated it — an acquisitive lender therefore shows books it did not write.