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Business and Ag Loans

Infuse your business with an immediate lump-sum of cash or long-term financing. Our business and ag loan options include the following:

Term loans

  • Variety of terms available
  • Funds for vehicles and equipment

Commercial mortgages and construction loans

Commercial mortgages and construction loans make funds available that allow you to purchase, refinance or construct commercial real estate such as land development, manufacturing facilities, warehouse space, professional offices or apartments.

  • Fixed or Variable Rates
  • Fixed rates available for up to 15 years subject to certain qualifications

Small Business Administration (SBA) loans

MidWestOne Bank is an SBA-preferred lender, which means quicker processing and local decision making. We participate in all SBA loan programs, including:

  • SBA Express
  • Patriot Express
  • 7(a) Program
  • 504 Program

Agricultural loans

Agricultural loans provide funding for real estate, equipment, buildings and improvement. Operating lines are available for crop inputs, operating needs, livestock and feed, etc.  We also offer specialized loan programs such as:

  • FSA Loans
  • Beginning Farmer Loans
  • Farm Ownership Loans
  • Guaranteed Farm Loans
  • Iowa Ag Development Authority (IADA) Loans
  • Iowa Finance Authority (IFA) Loans

Business loan checklist

To apply for a loan, the following items are helpful to have gathered:

Start-Up Business

  • Written business plan with financial projections
  • Personal financial statement (view template)
  • Previous three years of personal tax returns
  • Résumé detailing the education and related experience for each owner
  • If applicable, any proposed lease agreements
  • For assistance with your business plan, please contact the Iowa Small Business Development Center at 515-294-2030 or go to www.iowasbdc.org.

Existing Business

  • Summary of financing request (amount, term, collateral, etc.)
  • Personal financial statement (view template)
  • Previous three years of personal tax returns
  • Three years of business tax returns and interim statements (less than 90 days old)
  • If available, three years of business projections
  • Loan request detailing purpose and amount of loan, collateral and repayment sources
  • If applicable, any proposed lease agreements