Business Loans
You're the One™ we're here to help
Whether you’re starting your own business or are expanding existing operations, we will work with you to find the best financing solutions.
Lending Services
- Business Lines of Credit
- Domestic and International Letters of Credit
- Term Loans
- Construction Loans
- Commercial Real Estate Mortgages
- Small Business Administration (SBA) Loans
- Agricultural Loans
Before applying for a business loan, consult this Loan Application Checklist. And make sure you complete this Personal Financial Statement (PDF version, Excel version).
When you’re ready to apply, please download and complete this Commercial Loan Application.
Business Lines of Credit
Customized to meet the needs of your business, business lines of credit make funds available to take advantage of business opportunities. At MidWestOne, business lines of credit have overdraft protection and low monthly payments.
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.
Learn more about the SBA loan program. You will be entering a Web site separate from www.MidWestOne.com. MidWestOne is not responsible for the content of this site.
Business Loan Checklist
Here is a list of items you'll need to apply for a loan:
Start-Up Business
- Written business plan with financial projections
- Personal Financial Statement (Click here for the 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 (Click here for the 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