Capital for Iowa operators
from the corn belt to the rivers.

Iowa runs one of the most agriculturally productive and quietly diversified economies in the United States. Iowa is the largest US producer of corn, a top-three state for soybeans, the top-producing state for hogs and eggs, and a national leader in ethanol production — together producing a substantial share of total US grain output. Layered on top of that agricultural base: an insurance and financial-services hub in Des Moines that is among the largest in the country, anchored by Principal Financial Group, Nationwide's regional operations, EMC, Wellmark, and a dense network of independent agencies; an advanced-manufacturing complex anchored by John Deere in Waterloo and Dubuque and Collins Aerospace in Cedar Rapids; a food-processing economy that processes a meaningful share of the country's corn, soy, and pork; a biotech and life-sciences corridor tied to the University of Iowa and Iowa State; and a deep base of community banks and small-business support across all 99 counties. Even so, banks struggle to move at the pace Iowa operators need. Goliath was built to.

Our Iowa pipeline reaches every region of the state. Central Iowa brings us the densest deal flow — Des Moines across the East Village, downtown, Beaverdale, and out through West Des Moines, Urbandale, Ankeny, Waukee, Clive, and the broader Polk and Dallas counties. Eastern Iowa covers Cedar Rapids across the New Bohemia and Czech Village corridors and out through Marion and Hiawatha; the Quad Cities through Davenport, Bettendorf, and across the river to Moline and Rock Island; and Iowa City and the broader Johnson County. Western Iowa anchors on Sioux City along the Missouri River and Council Bluffs in the Omaha-metro orbit. The Cedar Valley brings us Waterloo, Cedar Falls, and the John Deere supplier corridor. Ames and the ISU economy round out the book.

The bank-lending coverage gap in Iowa

Despite hosting one of the deepest community-bank and farm-credit networks in the country, Iowa has a wider small-business credit gap than people expect. Community-bank consolidation has thinned the lender field across the southern and western counties, and the surviving regional and national institutions structurally favor commercial real estate, large farm-credit lending tied to crop and livestock collateral, and high-net-worth lending over the $50K to $500K working-capital tickets that Iowa small businesses actually need. The result: a Waterloo metal-fabrication shop, a Carroll County ag-service contractor, an East Village restaurant group, an Iowa City medical practice — strong, deposit-rich businesses — frequently cannot get a timely yes from a bank. We fill that gap.

We are deposit-based underwriters. We read your four most recent months of business bank statements, your ledger, and how you actually operate the company. We do not require two years of tax returns, audited financials, or a 720 FICO. That approach is well-matched to the Iowa mix because it accommodates the cash-heavy small-town diner, the receivable-heavy ag-service contractor waiting on grain-cycle settlements, the card-heavy Coralville retail concept, and the seasonally-spiky planting-and-harvest operator on the same underwriting bench. We routinely fund operators in their first year as long as deposit patterns support the offer.

The Iowa industry mix, the way we see it

Agriculture and ag-services anchor our Iowa book — grain handlers, ag-service contractors, hog-confinement builders, ethanol-plant suppliers, equipment dealers, and the deep base of trucking and logistics operators moving grain, livestock, and ethanol. Insurance and financial services anchored by Des Moines is the second pillar. Advanced manufacturing anchored by John Deere and Collins Aerospace, food processing, biotech, education-adjacent operators, restaurants, and construction round out the top of the pipeline.

Iowa is best understood as Des Moines plus a set of distinct regional economies running along the Mississippi, the Missouri, and the I-80 east-west corridor. Below is how the major metros break down in our book.

Des Moines

Des Moines is the dominant single Iowa market in our book and one of the largest insurance and financial-services hubs in the United States. Industry mix runs from insurance anchored by Principal Financial Group, Nationwide's regional operations, EMC, and Wellmark, to a renewed restaurant and hospitality economy across the East Village, downtown, and the Court Avenue corridor, to a deep professional-services and ag-finance base, to a growing biotech and life-sciences cluster. We fund operators across the city and out through West Des Moines, Urbandale, Ankeny, Waukee, Clive, and the broader Polk and Dallas counties.

Cedar Rapids

Cedar Rapids anchors Eastern Iowa and one of the largest food-processing economies per capita in the country — Quaker Oats, Cargill, ADM, and the broader corn-and-soy processing complex along the Cedar River. Layered on top is Collins Aerospace (formerly Rockwell Collins), one of the largest avionics manufacturers in the world. We fund operators across the New Bohemia and Czech Village neighborhoods, downtown, and out through Marion, Hiawatha, and Linn County.

The Quad Cities (Davenport-Bettendorf)

Davenport and Bettendorf anchor the Iowa side of the Quad Cities along the Mississippi River, with Moline and Rock Island just across in Illinois. The metro brings us deal flow from heavy-equipment manufacturing (John Deere, Arconic), agricultural-machinery suppliers, riverboat-and-tourism operators, healthcare anchored by Genesis and UnityPoint, and a steady contractor and restaurant book across Scott County.

Sioux City

Sioux City anchors Western Iowa along the Missouri River and a meat-packing and food-processing economy that processes a substantial share of US pork and beef — Tyson, Seaboard Triumph, and the broader livestock-and-meat supply chain. The metro brings us deal flow from food-processing-adjacent contractors, ag-service operators, trucking and logistics businesses tied to livestock and grain, and the steady contractor and restaurant base across Woodbury County.

Iowa City

Iowa City anchors the University of Iowa-driven economy in Johnson County and brings us a uniquely concentrated healthcare and biotech deal flow. The University of Iowa Hospitals & Clinics is one of the largest academic medical centers in the country, and the surrounding ecosystem of independent practices, biotech operators, and contractors feeds our pipeline. We fund operators across downtown, the Northside, Coralville, and out through Johnson County.

Ames

Ames anchors the Iowa State University-driven economy in Story County and a uniquely concentrated ag-research and biotech corridor. The metro brings us deal flow from ag-tech operators, biotech and life-sciences contractors, downtown restaurants and retail across Main Street and Welch Avenue, and a steady contractor and service book tied to the university and the ISU Research Park.