SBA 504 Loans in Cedar Rapids, IA
Find lenders offering sba 504 loans in the Cedar Rapids, including Iowa City, Marion, and surrounding areas. Compare rates, terms, and programs from 10 lenders.
Which SBA 504 lenders serve Cedar Rapids?
10 lenders offering sba 504 loans in the Cedar Rapids, IA area.
Iowa Business Growth Company
Local SBAJohnston, IA
Live Oak Banking Company
SBAWILMINGTON, NC
One of the nation's top SBA 7(a) lenders, specializing in lending to small businesses across healthcare, veterinary, beverage, self-storage, and other industries. Offers SBA loans, USDA loans, conventional business loans, and commercial real estate financing.
The Huntington National Bank
SBACOLUMBUS, OH
Major regional bank and consistently one of the top SBA lenders in the country by number of loans. Offers SBA 7(a) and 504 loans alongside conventional business lending, commercial real estate, and treasury management services.
U.S. Bank, National Association
SBACincinnati, OH
Fifth-largest commercial bank in the U.S. and a top SBA preferred lender. Offers SBA 7(a) and 504 loans, conventional commercial lending, commercial real estate, and a full suite of business banking products.
Readycap Lending, LLC
SBABERKELEY HEIGHTS, NJ
Non-bank SBA preferred lender offering SBA 7(a) and 504 loans nationwide. Specializes in commercial real estate, business acquisition, and expansion financing for small businesses. Known for fast closings and flexible underwriting.
Byline Bank
SBACHICAGO, IL
Chicago-based bank and one of the top SBA 7(a) lenders in the Midwest. Provides SBA loans, commercial real estate financing, equipment loans, and government-guaranteed lending for small and mid-sized businesses.
North Texas Certified Development Corporation
SBAPlano, TX
Plano, Texas-based Certified Development Company providing SBA 504 loans to small businesses in North Texas. Offers long-term, fixed-rate financing for commercial real estate acquisition and construction.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
CDC Small Business Finance Corp.
SBASan Diego, CA
Dakota Business Finance
SBASioux Falls, SD
What does the Cedar Rapids commercial real estate market look like?
Cedar Rapids is Iowa's second-largest metro and the state's primary manufacturing and food processing center, with major operations from Collins Aerospace (RTX), General Mills, Quaker Oats, and Ingredion driving industrial CRE demand. The city's downtown was devastated by the 2008 Cedar River flood and has since undergone a comprehensive rebuilding effort, with the NewBo District emerging as a vibrant mixed-use and creative economy corridor. The I-380 corridor connecting Cedar Rapids to Iowa City and the University of Iowa creates a combined labor market that supports diverse office and research-oriented demand. Industrial users benefit from competitive lease rates, proximity to rail and river logistics, and an extensive fiber-optic network that has attracted tech-forward manufacturers.
Key Economic Drivers
- ●Collins Aerospace (RTX) manufacturing and engineering operations
- ●General Mills, Quaker Oats, and Ingredion food processing facilities
- ●I-380 corridor linking to University of Iowa and Iowa City economy
- ●NewBo District revitalization and downtown post-flood redevelopment
Market Insight
Cedar Rapids invested over $750 million in flood mitigation infrastructure after the 2008 disaster, including permanent levees and a removable flood wall system, substantially reducing flood risk for downtown commercial properties — a critical underwriting consideration for CRE lenders.
How do sba 504 loans work in Cedar Rapids, Iowa?
SBA 504 loans provide long-term, fixed-rate financing for major fixed assets like commercial real estate and heavy equipment. The loan is split between a bank (50%), a Certified Development Company (40%), and your down payment (10%), resulting in below-market rates on the CDC portion. In the Cedar Rapids metro area, borrowers can access 10 lenders offering SBA 504 financing, including Iowa City, Marion, and surrounding areas. Loan amounts typically range from $125K to $17M with rates from Below market (CDC portion ~5-6%).
Who should consider sba 504 loans?
- Owner-occupied commercial real estate
- Heavy equipment purchase
- Business expansion
- New construction
What are the key requirements?
- For-profit business
- Net worth under $15M
- Average net income under $5M (after taxes) for prior 2 years
- 51%+ owner occupancy
- Create or retain jobs (1 per $90,000 CDC)
Advantages
- ✓Only 10% down payment
- ✓Below-market fixed rate on CDC portion
- ✓Long terms (20-25 years for RE)
- ✓No balloon payments
Considerations
- •Must be owner-occupied (51%+ for existing, 60%+ for new construction)
- •Cannot be used for working capital
- •Longer closing timeline
- •Two closings (bank + CDC)
SBA 504 Loans in Cedar Rapids FAQ
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What is a Certified Development Company (CDC)? ▼
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