Top Industries Financed
- Full-Service Restaurants
- Offices of Chiropractors
- Snack and Nonalcoholic Beverage Bars
- Beauty Salons
- Insurance Agencies and Brokerages
Quick Summary
Farmers State Bank is an SBA-approved lender headquartered in WATERLOO, Iowa. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 129 SBA 7(a) loans totaling $34.8M, with an average loan size of $270K. They serve businesses across 4 states.
About Farmers State Bank
Farmers State Bank is an SBA-approved lender headquartered in WATERLOO, Iowa. Since 2020, they have approved 129 SBA 7(a) loans totaling $34.8M, with an average loan size of $270K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They serve businesses across 4 states.
Before you apply — know where you stand
Nav is the only place where you can track your FICO SBSS score — the score the SBA uses to determine loan eligibility.
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Frequently Asked Questions
Is Farmers State Bank an SBA Preferred Lender?
Yes, Farmers State Bank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Farmers State Bank approved?
According to SBA FOIA public records, Farmers State Bank has approved 129 SBA 7(a) loans totaling $34.8M since 2020. Their average loan size is $270K.
What states does Farmers State Bank serve?
Farmers State Bank serves businesses in 4 states: Iowa, Michigan, Oklahoma, Wyoming.
How do I apply for an SBA loan with Farmers State Bank?
To apply for an SBA 7(a) loan with Farmers State Bank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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