SBA 7(a) lenders in Wapello, IA
Approvals in SBA fiscal years 2008–2026. Source data as of 2026-06-30.
Lenders
17 institutions have SBA 7(a) loans on record in Wapello, together $24.4M across 68 loans. South Ottumwa Savings Bank is the largest, with 20% of approvals.
| Rank | Lender | Loans | Approved | Share | Loss rate |
|---|---|---|---|---|---|
| 1 | South Ottumwa Savings Bank | 12 | $5.0M | 20.4% | 1.92% |
| 2 | First Internet Bank of Indiana | 2 | $3.2M | 13.0% | 0.00% |
| 3 | First Iowa State Bank | 4 | $3.1M | 12.7% | 43.19% |
| 4 | Community 1st CU | 29 | $2.7M | 11.1% | 0.27% |
| 5 | Shoreham Bank | 1 | $2.5M | 10.3% | 0.00% |
| 6 | U.S. Bank, National Association | 6 | $1.8M | 7.5% | 0.00% |
| 7 | The Huntington National Bank | 2 | $1.5M | 6.0% | 0.00% |
| 8 | Iowa Trust and Savings Bank | 1 | $1.3M | 5.3% | 0.00% |
| 9 | Mechanics and Farmers Bank | 1 | $596K | 2.4% | 0.00% |
| 10 | Newtek Bank, National Association | 1 | $525K | 2.2% | 0.00% |
| 11 | BMO Bank National Association | 2 | $500K | 2.1% | 0.00% |
| 12 | Wells Fargo Bank National Association | 2 | $483K | 2.0% | 0.00% |
| 13 | Nicolet National Bank | 1 | $425K | 1.7% | 0.00% |
| 14 | Stearns Bank National Association | 1 | $278K | 1.1% | 0.00% |
| 15 | Hedrick Savings Bank | 1 | $260K | 1.1% | 0.00% |
| 16 | Iowa State Bank and Trust Company of Fairfield, Iowa | 1 | $174K | 0.7% | 0.00% |
| 17 | Readycap Lending, LLC | 1 | $65K | 0.3% | 0.00% |
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 | Health care & social assistance | 11 | $4.6M | 18.7% |
| 2 | Accommodation & food services | 7 | $3.8M | 15.5% |
| 3 | Construction | 8 | $3.2M | 13.1% |
| 4 | Retail trade | 6 | $2.8M | 11.3% |
| 5 | Arts, entertainment & recreation | 7 | $1.9M | 7.8% |
| 6 | Administrative & waste services | 4 | $1.8M | 7.5% |
| 7 | Retail trade | 2 | $1.7M | 6.8% |
| 8 | Wholesale trade | 2 | $1.4M | 5.9% |
| 9 | Other services | 8 | $1.2M | 5.1% |
| 10 | Finance & insurance | 2 | $621K | 2.5% |
| 11 | Real estate & leasing | 1 | $350K | 1.4% |
| 12 | Manufacturing | 3 | $336K | 1.4% |
| 13 | Information | 1 | $300K | 1.2% |
| 14 | Transportation & warehousing | 2 | $120K | 0.5% |
| 15 | Educational services | 1 | $93K | 0.4% |
| 16 | Manufacturing | 1 | $89K | 0.4% |
| 17 | Professional & technical services | 1 | $65K | 0.3% |
| 18 | Manufacturing | 1 | $29K | 0.1% |
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.