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USDA Business Loans in Des Moines, IA

Find lenders offering usda business loans in the Des Moines, including West Des Moines, Ankeny, Ames, and surrounding areas. Compare rates, terms, and programs from 2 lenders.

Find Des Moines USDA Lenders →
Lenders
2
Typical Rate
Fixed or variable, negotiated with lender
Down Payment
10% existing business, 20% new business
Term
7-30 years by use of proceeds
Closing Time
60-120 days

Which USDA lenders serve Des Moines?

2 lenders offering usda business loans in the Des Moines, IA area.

Live Oak Banking Company

SBA

WILMINGTON, 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.

628 SBA loans
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Celtic Bank Corporation

SBA

SALT LAKE CITY, UT

Industrial bank and top SBA preferred lender headquartered in Salt Lake City. Specializes in SBA 7(a) lending for business acquisitions, partner buyouts, commercial real estate, and working capital. Also offers USDA business loans.

442 SBA loans
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What does the Des Moines commercial real estate market look like?

Des Moines is the insurance capital of the U.S., hosting the headquarters or major operations of Principal Financial Group, Nationwide, EMC Insurance, and over 80 other insurance and financial services companies, which anchor the metro's office market. The Western Gateway and East Village neighborhoods downtown have attracted adaptive reuse and new mixed-use development, while the Jordan Creek corridor in West Des Moines has emerged as the primary suburban office and retail hub. The metro has become a significant data center market, with Microsoft and Meta operating large campuses in Altoona and West Des Moines. Industrial demand centers on the U.S. 65 and I-80/I-35 interchange corridors, which offer central U.S. distribution positioning.

Key Economic Drivers

  • ●Insurance and financial services headquarters cluster including Principal, Nationwide, and EMC
  • ●Microsoft and Meta data center campuses in Altoona and West Des Moines
  • ●Jordan Creek and Mills Civic Parkway suburban office and retail corridor
  • ●I-80/I-35 interchange logistics and distribution operations

Market Insight

Iowa's High Quality Jobs Program offers significant tax incentives — including investment tax credits and sales tax refunds — for CRE projects that create jobs paying at least 120% of the county average wage, and Des Moines has been one of the most active metros for program utilization.

How do usda business loans work in Des Moines, Iowa?

USDA Business & Industry (B&I) loans are lender-made, government-guaranteed loans for businesses in eligible rural areas. They can cover real estate, equipment, business acquisition, and working capital, with terms tied to use of proceeds and underwriting that looks a lot like a bank loan plus USDA eligibility. In the Des Moines metro area, borrowers can access 2 lenders offering USDA financing, including West Des Moines, Ankeny, Ames, and surrounding areas. Loan amounts typically range from $50K to $10M with rates from Fixed or variable, negotiated with lender.

Who should consider usda business loans?

  • Rural owner-user businesses
  • Food processing and manufacturing
  • Business acquisition in eligible rural areas
  • Equipment, real estate, and working capital needs

What are the key requirements?

  • Project generally in an eligible rural area outside cities or towns above 50,000
  • Tangible balance sheet equity typically at least 10% existing / 20% new business
  • Good credit history and repayment ability
  • Collateral and lender support strong enough for a USDA guarantee

Advantages

  • ✓FY2026 guarantee up to 85% on loans under $5M
  • ✓Long terms, up to 30 years on real estate
  • ✓Can cover real estate, equipment, acquisition, and working capital
  • ✓Rates are negotiated with the lender, not set by USDA

Considerations

  • •Project must be in an eligible rural area
  • •No lines of credit or rental housing
  • •Full lender underwriting plus USDA review
  • •Smaller lender pool than SBA

USDA Business Loans in Des Moines FAQ

How many USDA lenders serve Des Moines, IA? ▼
There are 2 lenders offering usda business loans in the Des Moines metro area. Loan amounts typically range from 50K to 10M with rates from Fixed or variable, negotiated with lender.
What are USDA loan rates in Des Moines? ▼
USDA loan rates in Des Moines typically range from Fixed or variable, negotiated with lender, though exact rates depend on factors like your credit score, the property's cash flow, and loan-to-value ratio. Down payments usually run 10% existing business, 20% new business, and closing can take 60-120 days. Compare multiple Des Moines-area lenders to find the best terms for your deal.
What qualifies as a rural area for USDA loans? ▼
USDA generally requires the project to be outside cities or towns above 50,000 population and outside adjacent urbanized areas. The safest move is to confirm the project address on the USDA eligibility map before you spend money on third-party reports.
Can USDA Business & Industry loans be used for working capital? ▼
Yes, in many cases. USDA says B&I proceeds can cover working capital, but term limits are shorter than for real estate or equipment, and the lender still has to show the deal cash flows.
What is the USDA guarantee percentage in 2026? ▼
USDA's FY2026 notice sets the standard B&I guarantee at 85% for loans under $5 million and 80% for loans from $5 million to $25 million, with a 90% tier for qualifying isolated rural Alaska projects. Separate USDA guidance says most single-borrower requests should still think in terms of a normal $10 million limit unless an exception is approved.
How long can a USDA business loan term run? ▼
The term depends on the use of proceeds. USDA training guidance allows up to 30 years for real estate, up to 15 years or useful life for machinery and equipment, and up to 7 years for working capital.

Where else can I find usda business loans in Iowa?

Cedar Rapids

Other loan types in Des Moines

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SBA 7(a) Loans in Des Moines

Rates from Prime + 1.5% to 3.75%. 10-20% down.

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SBA 504 Loans in Des Moines

Rates from Below market (CDC portion ~5-6%). 10% down.

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Commercial Mortgage in Des Moines

Rates from 6% - 8%. 20-30% down.

Related resources

USDA Business Loans in Iowa

Browse all USDA lenders serving IA.

USDA Business Loans Overview

Rates, requirements, and how USDA loans work.

All Iowa Lenders

Browse all commercial lenders serving IA.

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