Best Loans In Iowa, Payday, Auto Title Laws 2020 - Elite Personal Finance
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Best Loans In Iowa, Payday, Auto Title Laws 2020

EPF Last Update: April 1, 2020

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According to Chapter 536 of Iowa’s Code of Commerce, regulated loans are capped at $25,000.  Allowable finance charges include:

  • 3% per month on balances ≤ $150.
  • 2% per month on balances > $150 but ≤ $300.
  • 1 ½% per month on balances > $300 but ≤ $700.
  • 1% per month on the remaining balance exceeding $700.

For Consumer Credit Loans, Chapter 537 of Iowa’s Consumer Credit Code caps loans at $1,000. Finance charges cannot exceed 21% per year and the maximum loan term is 25 months for loans of $300 or less and 37 months for loans greater than $300.

Other allowable charges include:

  • A delinquency charge (after the loan is 10 days past due) of 5% or a maximum of $30.
  • A non-sufficient funds (NSF) fee of 5% or $20, whichever is greater.

Best Bad Credit Loans In Iowa 2020

Amount

$500 – $5,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

3 – 36 Months

Licensed in Iowa

Not a direct lender

Amount

$100 - $2,500

Min Credit Score

0

APR

Vary by State

Approval

< 1 Day

Terms

1 - 36 Months

Licensed in Iowa

Yes

Amount

$1,000 – $5,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

9 – 36 Months

Licensed in Iowa

Yes

Amount

$100 – $1,000

Min Credit Score

0

APR

Vary By State

Approval

< 1 Day

Terms

7 – 30 Days

Licensed in Iowa

Yes

Amount

$1,000 – $10,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Iowa

Not a direct lender

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Iowa

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Iowa

Yes

Amount

$1,000 – $100,000

Min Credit Score

500

APR

5.34% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Iowa

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

< 1 Day

Terms

12 - 120 months

Licensed in Iowa

Yes

Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Iowa

Not a direct lender

For an in-depth look at how bad credit loans work, see our complete guide.

Best Personal Loans for Good Credit In Iowa 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Iowa

Yes

Amount

$2,000 - $40,000

Min Credit Score

640

APR

6.95% - 35.99%

Approval

1 - 3 Days

Terms

36 - 60 months

Licensed in Iowa

Yes

Amount

$1,000 – $100,000

Min Credit Score

0

APR

4.99 - 35.99%

Approval

1 Day

Terms

12 - 120 months

Licensed in Iowa

Yes

Amount

$1,000 – $35,000

Min Credit Score

580

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

90 Days – 72 Months

Licensed in Iowa

Yes

Amount

$1,000 – $50,000

Min Credit Score

500

APR

3.99% – 35.99%

Approval

< 1 Day

Terms

1 – 5 Years

Licensed in Iowa

Yes

Amount

$1,000 – $35,000

Min Credit Score

0

APR

5.99% – 35.99%

Approval

< 1 Day

Terms

2 – 5 Years

Licensed in Iowa

Yes

Amount

$1,000 – $50,000

Min Credit Score

600

APR

6.98% – 35.89%

Approval

< 1 Day

Terms

3 - 5 Years

Licensed in Iowa

Yes

Amount

$5,000 – $35,000

Min Credit Score

640

APR

5.99% – 24.99%

Approval

1 – 7 Days

Terms

2 -5 Years

Licensed in Iowa

Yes

Amount

$2,500-$35,000

Min Credit Score

660

APR

6.99-24.99%

Approval

1 Day

Terms

24 - 84 Months

Licensed in Iowa

Yes

Amount

$7,500 - $40,000

Min Credit Score

680

APR

6 - 15%

Approval

1 - 7 Days

Terms

36 - 84 months

Licensed in Iowa

Yes

You can also check out our full list of recommended lenders.

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Payday Loans in Iowa

Maximum Loan Amount: $500

Minimum Loan Term: Not specified

Maximum Loan Term: 31 days

Maximum Fee: $15 on the first $100 borrowed

Maximum APR: Average 336%

Rollovers: Prohibited

Loan Limit: You can only have two payday loans at a time

Payday loans are legal in Iowa.

Chapter 533D of Iowa’s Delayed Deposit Services Code places a $500 limit on payday loans. Licensed lenders can levy finance charges of $15 on the first $100 borrowed and $10 on each of the following $100 borrowed – up to the maximum of $500. A $15 non-sufficient funds (NSF) fee is also allowed.

Conversely, rollovers are prohibited and borrowers cannot have more than two payday loans at a time.

Payday Loan Laws in Iowa by Country

ElitePersonalFinance analysis of payday loan laws by countries in the State of Iowa.

We haven’t found a significant difference between the payday loan laws in Iowa. If you are with bad credit, here are the laws in Iowa by country.

CityAmount AllowedAPR AllowedStatus
Des Moines$500337%Legal
Cedar Rapids$500337%Legal
Davenport$500337%Legal
Sioux City$500337%Legal
Iowa City$500337%Legal
Waterloo$500337%Legal
Ames$500337%Legal
West Des Moines$500337%Legal
Council Bluffs$500337%Legal
Ankeny$500337%Legal
Dubuque$500337%Legal
Urbandale$500337%Legal
Cedar Falls$500337%Legal
Marion$500337%Legal
Bettendorf$500337%Legal
Mason City$500337%Legal
Marshalltown$500337%Legal
Clinton$500337%Legal
Burlington$500337%Legal
Ottumwa$500337%Legal
Fort Dodge$500337%Legal
Muscatine$500337%Legal
Johnston$500337%Legal
Coralville$500337%Legal
Waukee$500337%Legal
North Liberty$500337%Legal
Altoona$500337%Legal
Clive$500337%Legal
Indianola$500337%Legal
Newton$500337%Legal
Boone$500337%Legal
Grimes$500337%Legal
Oskaloosa$500337%Legal
Spencer$500337%Legal
Storm Lake$500337%Legal
Fort Madison$500337%Legal
Norwalk$500337%Legal
Keokuk$500337%Legal
Pella$500337%Legal
Fairfield$500337%Legal
Waverly$500337%Legal
Carroll$500337%Legal
Le Mars$500337%Legal
Pleasant Hill$500337%Legal
Grinnell$500337%Legal
Mount Pleasant$500337%Legal
Denison$500337%Legal
Creston$500337%Legal
Webster City$500337%Legal
Decorah$500337%Legal
Perry$500337%Legal
Clear Lake$500337%Legal
Sioux Center$500337%Legal
Charles City$500337%Legal
Washington$500337%Legal
Hiawatha$500337%Legal
Knoxville$500337%Legal
Nevada$500337%Legal
Atlantic$500337%Legal
Eldridge$500337%Legal
Orange City$500337%Legal
Oelwein$500337%Legal
Independence$500337%Legal
Maquoketa$500337%Legal
Estherville$500337%Legal
Bondurant$500337%Legal
Centerville$500337%Legal
Asbury$500337%Legal
Anamosa$500337%Legal
Algona$500337%Legal
Red Oak$500337%Legal
Clarinda$500337%Legal
Glenwood$500337%Legal
Winterset$500337%Legal
DeWitt$500337%Legal
Sheldon$500337%Legal
Vinton and Iowa Falls$500337%Legal
Manchester$500337%Legal
Osceola and Spirit Lake$500337%Legal
Windsor Heights$500337%Legal
Cherokee$500337%Legal
Shenandoah$500337%Legal
Harlan$500337%Legal
Evansdale$500337%Legal
Sergeant Bluff$500337%Legal
Humboldt$500337%Legal
Polk City$500337%Legal
Mount Vernon$500337%Legal
Camanche$500337%Legal
Adel$500337%Legal
Hampton$500337%Legal
Jefferson$500337%Legal
Chariton$500337%Legal
Carlisle$500337%Legal
Dyersville$500337%Legal
Forest City$500337%Legal
Le Claire$500337%Legal
Monticello$500337%Legal
Carter Lake$500337%Legal
Cresco$500337%Legal
Emmetsburg$500337%Legal
Albia$500337%Legal
West Liberty$500337%Legal
Waukon$500337%Legal
Rock Valley$500337%Legal
Huxley$500337%Legal
Osage$500337%Legal
Saylorville$500337%Legal
New Hampton$500337%Legal
Eagle Grove$500337%Legal
Robins$500337%Legal
Story City$500337%Legal
Tipton$500337%Legal
Williamsburg$500337%Legal
Garner$500337%Legal
Tiffin$500337%Legal

Car Title Loans in Iowa

Car title loans are illegal in Iowa.

Best Auto Loans for Bad Credit in Iowa 2020

Best Auto Loans for Good Credit in Iowa 2020

Credit Unions In Iowa

Name:APR:Amount:
Veridian Credit Union7.50% – 21.00%Up to $40,000
Dupaco Community Credit Union8.50%+$15,000+

Veridian Credit Union

At Veridian Credit Union, you have three financing options to choose from:

  • Premier Personal Loans allow you to borrow anywhere from $10,000 to $40,000. Loans are unsecured and designed for borrowers with credit scores of 720 or higher.
  • Personal Loans allow you to borrow up to $20,000 and loans are also unsecured. To qualify, you must provide your credit score, a proven record of job stability and demonstrate that you can manage the debt load.
  • Payday Alternative Loans (PAL) allow you to borrow up to $1,000 – with half given upfront and the other half withheld until the loan is repaid. To qualify, you must set up direct deposit with Veridian, provide proof of income and not have taken out a PAL in the last six months.

APRs are:

  • 60-Month Premier Personal Loan: as low as 7.50%.
  • 120-Month Premier Personal Loan: as low as 8.00%.
  • 12-Month Personal Loan: as low as 7.50%.
  • 24-Month Personal Loan: as low as 8.50%.
  • 36-Month Personal Loan: as low as 9.50%.
  • 48-Month Personal Loan: as low as 10.00%.
  • 60-Month Personal Loan: as low as 10.50%.
  • 6-Month Payday Alternative Loan (PAL): 19% to 21%.

As well, you can receive a 0.25% reduction in your APR by enrolling in direct deposit and setting up automatic loan payments.

Veridian Credit Union operates 27 branches across Iowa, with locations in Ankeny, Waterloo, Independence, Des Moines as well as many others.

Dupaco Community Credit Union

Dupaco Community Credit Union offers one unsecured loan option and two secured loan options:

  • Signature Loans allow you to borrow up to $15,000 and average APRs are 8.50% for 24-month loans and 9.00% for 36-month loans. All loans are unsecured and you can obtain a 0.05% to 0.15% APR discount by opening a Dupaco savings and checking account (while maintaining certain balance minimums) and setting up automatic payments.
  • Share Secured Loans are designed for borrowers who don’t qualify for Signature Loans. A savings or term share certificate is used as collateral, which allows the loan proceeds to extend up to 100% of the collateral deposited. Terms also extend up to 36 months, but APRs vary by borrower.
  • Credit Coach Loans are designed for borrowers who need to repair or establish their credit. Loans are part of Dupaco’s Credit Coach Program – where borrowers work one-on-one with a lending expert to help build their credit score. The program is free of charge and you can borrow up to $1,500 with an APR as low as 8.95%. Terms extend up to 12 months and all withheld funds earn dividends in your Dupaco savings account.

Dupaco Community Credit Union operates 10 branches across Iowa, with locations in Manchester, Platteville, Marion, Dubuque as well as others.

All Licensed Credit Unions in Iowa

NameCitySize (Millions)Members
VERIDIAN CREDIT UNIONWaterloo$2,019.28165849
UNIVERSITY OF IOWA COMMUNITY CREDIT UNIONIowa City$1,422.3490244
COLLINS COMMUNITY CREDIT UNIONCedar Rapids$685.3964102
DUPACO COMMUNITY CREDIT UNIONDubuque$975.1463772
COMMUNITY 1ST CREDIT UNIONOttumwa$368.9345983
DU TRAC COMMUNITY CREDIT UNIONDubuque$514.6440440
COMMUNITY CHOICE CREDIT UNIONJohnston$334.7235518
ASCENTRA CREDIT UNIONBettendorf$257.1430814
GREATER IOWA CREDIT UNIONAmes$283.8428790
LINN AREA CREDIT UNIONCedar Rapids$284.3423632
MEMBERS1ST COMMUNITY CREDIT UNIONMarshalltown$139.8419367
THE FAMILY CREDIT UNIONDavenport$113.9517079
TELCO-TRIAD COMMUNITY CREDIT UNIONSioux City$74.9916767
CITIZENS COMMUNITY CREDIT UNIONFort Dodge$144.6714561
PREMIER CREDIT UNIONDes Moines$97.3514412
AFFINITY CREDIT UNIONDes Moines$66.0111978
FINANCIAL PLUS CREDIT UNIONWest Des Moines$95.3011767
FIRST CLASS CREDIT UNIONWest Des Moines$58.0110669
IOWA COMMUNITY CREDIT UNIONCedar Falls$77.9810261
NORTH IOWA COMMUNITY CREDIT UNIONMason City$60.0410177
NORTH STAR CREDIT UNIONCherokee$66.899540
ALLIANT CREDIT UNIONDubuque$87.049330
CEDAR FALLS COMMUNITY CREDIT UNIONCedar Falls$87.498839
1ST GATEWAY CREDIT UNIONCamanche$80.488162
FIRST FEDERAL CREDIT UNIONCedar Rapids$144.188067
MEMBERS COMMUNITY CREDIT UNIONMuscatine$47.636758
EMPLOYEES CREDIT UNIONEstherville$74.806702
LENNOX EMPLOYEES CREDIT UNIONMarshalltown$33.486226
TRADESMEN COMMUNITY CREDIT UNIONDes Moines$37.566170
CASEBINE COMMUNITY CREDIT UNIONWest Burlington$29.495810
DES MOINES METRO CREDIT UNIONDes Moines$42.975519
ADVANTAGE CREDIT UNIONNewton$49.225353
RIVER VALLEY CREDIT UNIONAmes$47.345233
NISHNA VALLEY CREDIT UNIONAtlantic$23.955126
THE CORNERSTONE CREDIT UNIONDes Moines$14.564743
N.W. IOWA CREDIT UNIONLe Mars$35.154511
MERCY-CITY-LEHIGH FAMILY CREDIT UNIONMason City$30.594500
MIDLAND CREDIT UNIONUrbandale$37.114355
FEDERAL EMPLOYEES CREDIT UNIONDes Moines$18.274227
FAMILY COMMUNITY CREDIT UNIONCharles City$18.334134
UNITED SERVICE CREDIT UNIONDes Moines$35.884122
EDCO COMMUNITY CREDIT UNIONDes Moines$39.434098
MIDWEST COMMUNITY CREDIT UNIONSioux City$21.673974
METCO CREDIT UNIONCedar Rapids$22.653967
HENRY COUNTY COMMUNITY CREDIT UNIONMt Pleasant$17.963882
PEOPLES CREDIT UNIONWebster City$20.923739
ACE COMMUNITY CREDIT UNIONAmes$32.323641
IOWA HEARTLAND CREDIT UNIONMason City$19.083590
THE HUB-CO CREDIT UNIONKeokuk$13.923195
AEGIS CREDIT UNIONClinton$9.883163
RIVER COMMUNITY CREDIT UNIONOttumwa$14.572880
FORT DODGE FAMILY CREDIT UNIONFort Dodge$20.942840
MERIDIAN CREDIT UNIONOttumwa$31.322831
UNI CREDIT UNIONCedar Falls$17.482683
UNITED CREDIT UNIONCouncil Bluffs$13.432656
THE MUNICIPAL CREDIT UNIONSioux City$12.952621
TEAMSTERS LOCAL #238 CREDIT UNIONCedar Rapids$7.432452
FRONTIER COMMUNITY CREDIT UNIONFort Dodge$16.042396
BENT RIVER COMMUNITY CREDIT UNIONDavenport$21.612390
RACOM COMMUNITY CREDIT UNIONDyersville$11.742288
SIOUX VALLEY COMMUNITY CREDIT UNIONSioux City$22.192279
SCOTT SCHOOLS CREDIT UNIONDavenport$18.352261
DES MOINES POLICE OFFICERS CREDIT UNIONDes Moines$35.192243
PUBLIC EMPLOYEES CREDIT UNIONWaterloo$24.952184
THREE I CREDIT UNIONBurlington$7.492148
VILLAGE CREDIT UNIONDes Moines$8.962116
TOWN AND COUNTRY CREDIT UNIONHarlan$12.832027
CAPITOL VIEW CREDIT UNIONDes Moines$25.751920
QUAKER OATS CREDIT UNIONCedar Rapids$6.831893
POLK COUNTY SCHOOLS EMPLOYEES CREDIT UNIONUrbandale$9.721761
POWER CO-OP EMPLOYEES CREDIT UNIONHumboldt$25.211688
ALLEN HOSPITAL PERSONNEL CREDIT UNIONWaterloo$5.151652
CONSUMERS CREDIT UNIONDenison$5.291644
CHEMICAL CREDIT UNIONClinton$11.541603
DUBUQUE TEACHERS CREDIT UNIONDubuque$14.701582
EMC CREDIT UNIONDes Moines$7.311343
CHICAGO CENTRAL AND COMMERCE CREDIT UNIONWaterloo$7.031330
HOLY GHOST PARISH CREDIT UNIONDubuque$28.571259
RIVER BEND CREDIT UNIONWest Burlington$7.381242
MIDWEST FEDERAL EMPLOYEES CREDIT UNIONWaterloo$7.681231
NORTH WESTERN EMPLOYEES CREDIT UNIONCouncil Bluffs$7.321165
INDUSTRIAL EMPLOYEES CREDIT UNIONCenterville$8.001146
GOVERNMENT EMPLOYEES CREDIT UNIONMason City$4.231125
ACE CREDIT UNIONMason City$9.061069
DES MOINES FIRE DEPARTMENT CREDIT UNIONDes Moines$6.151016
POLK COUNTY CREDIT UNIONDes Moines$3.70991
ASHWORTH CREDIT UNIONWest Des Moines$6.21974
WARREN CREDIT UNIONWaterloo$5.85912
SCICAP CREDIT UNIONChariton$2.59862
GENERAL DRIVERS CREDIT UNIONDubuque$6.62811
USDA CREDIT UNIONDes Moines$4.15797
A – E EMPLOYEES CREDIT UNIONDes Moines$2.67778
EATON EMPLOYEES CREDIT UNIONShenandoah$2.18755
KAH CREDIT UNIONKeokuk$2.19755
K.E.M. CREDIT UNIONKeokuk$0.60733
EAGLE ROCK CREDIT UNIONClinton$3.45729
S E C U CREDIT UNIONKeokuk$1.72695
BURLINGTON MUNICIPAL EMPLOYEES CREDIT UNIONBurlington$3.57646
LOUDEN DEPOT COMMUNITY CREDIT UNIONFairfield$3.05628
LEECO CREDIT UNIONKeokuk$2.06583
MIDWEST UTILITIES CREDIT UNIONWaterloo$2.18577
GAS & ELECTRIC EMPLOYEES CREDIT UNIONMason City$4.75530
VON MAUR EMPLOYEES CREDIT UNIONDavenport$0.48507
DES MOINES WATER WORKS CREDIT UNIONDes Moines$1.42490
WATERLOO POLICE CREDIT UNIONCedar Falls$2.67483
EATON EMPLOYEES CREDIT UNIONSpencer$1.82472
DES MOINES COUNTY POSTAL CREDIT UNIONBurlington$2.94466
DU PONT EMPLOYEES CREDIT UNIONFort Madison$3.06465
MHI INDEPENDENCE EMPLOYEES CREDIT UNIONIndependence$1.58456
WATERLOO FIREMEN’S CREDIT UNIONWaterloo$2.17418
ETS CREDIT UNIONEldora$2.14417
GREAT RIVER ROAD CREDIT UNIONBuffalo$2.28409
NORTHWESTERN STATES CEMENT EMPLOYEE CREDIT UNIONMason City$0.81401
LEHIGH VALLEY CREDIT UNIONLehigh$3.83397
N.G.P.L. EMPLOYEES CREDIT UNIONSt Charles$2.96391
OELWEIN-CRESCO CREDIT UNIONCresco$1.12367
DAVENPORT POLICE DEPARTMENT CREDIT UNIONDavenport$3.63363
ST. ATHANASIUS CREDIT UNIONJesup$0.46309
POSTAL EMPLOYEES CREDIT UNIONFort Dodge$1.58306
M. A. FORD EMPLOYEES CREDIT UNIONDavenport$0.95283
DUBUQUE POSTAL EMPLOYEES CREDIT UNIONDubuque$4.77268
MUNI EMPLOYEES CREDIT UNIONOttumwa$0.75264
A.Y. MCDONALD EMPLOYEES CREDIT UNIONDubuque$0.67237
WEBSTER CITY MUNICIPAL CREDIT UNIONWebster City$0.49231
MORRISON EMPLOYEES CREDIT UNIONDubuque$1.75226
CIRCLE K CREDIT UNIONDubuque$0.77223
URBANDALE MUNICIPAL EMPLOYEES CREDIT UNIONUrbandale$1.49193
BILT-WELL CREDIT UNIONDubuque$0.92182
ST. LUDMILA S CREDIT UNIONCedar Rapids$0.37180
RIMODA CREDIT UNIONDavenport$0.39162

Student Loans In Iowa

All Iowa Opportunity Scholarship (AIOS)

The All Iowa Opportunity Scholarship (AIOS) is a state-funded program that’s available to Iowa students who attend eligible colleges and universities. The award adjusts each year, but a $4,644 maximum was granted in 2019/2020. If you’re a first-time recipient, you can receive grants for up to 8 full-time semesters or 16 part-time semesters.

To qualify, you must:

  • Be an Iowa resident and attend an eligible college or university.
  • Have graduated from an eligible Iowa high school or completed an equivalency program within the last 2 years.
  • Enroll for at least 3 semester hours in a program that leads to an undergraduate degree, diploma or certificate.
  • Complete your Federal Student Aid (FAFSA) application and Iowa Financial Aid (IFAA) application by March 1.

Priority is also given to:

  • Students who age-out of Iowa’s foster care system.
  • Children of deceased public safety workers.
  • Students who took part in select federal TRIO programs.
  • Students with alternative educational backgrounds.
  • Students who took part in the Federal GEAR UP Grant program in Iowa.

Federal Housing Administration (FHA) Loans In Iowa

There are 99 counties in Iowa where you can apply for an FHA loan. The low-and-high figures are identical across all 99 counties – where the lowest loan available is $314,827 and the highest loan available is $605,525.

CountySingle Unit Limit (lowest)Four-Plex Limit (highest)
Adair County$331,760$638,100
Adams County$331,760$638,100
Allamakee County$331,760$638,100
Appanoose County$331,760$638,100
Audubon County$331,760$638,100
Benton County$331,760$638,100
Black Hawk County$331,760$638,100
Boone County$331,760$638,100
Bremer County$331,760$638,100
Buchanan County$331,760$638,100
Buena Vista County$331,760$638,100
Butler County$331,760$638,100
Calhoun County$331,760$638,100
Carroll County$331,760$638,100
Cass County$331,760$638,100
Cedar County$331,760$638,100
Cerro Gordo County$331,760$638,100
Cherokee County$331,760$638,100
Chickasaw County$331,760$638,100
Clarke County$331,760$638,100
Clay County$331,760$638,100
Clayton County$331,760$638,100
Clinton County$331,760$638,100
Crawford County$331,760$638,100
Dallas County$331,760$638,100
Davis County$331,760$638,100
Decatur County$331,760$638,100
Delaware County$331,760$638,100
Des Moines County$331,760$638,100
Dickinson County$331,760$638,100
Dubuque County$331,760$638,100
Emmet County$331,760$638,100
Fayette County$331,760$638,100
Floyd County$331,760$638,100
Franklin County$331,760$638,100
Fremont County$331,760$638,100
Greene County$331,760$638,100
Grundy County$331,760$638,100
Guthrie County$331,760$638,100
Hamilton County$331,760$638,100
Hancock County$331,760$638,100
Hardin County$331,760$638,100
Harrison County$331,760$638,100
Henry County$331,760$638,100
Howard County$331,760$638,100
Humboldt County$331,760$638,100
Ida County$331,760$638,100
Iowa County$331,760$638,100
Jackson County$331,760$638,100
Jasper County$331,760$638,100
Jefferson County$331,760$638,100
Johnson County$331,760$638,100
Jones County$331,760$638,100
Keokuk County$331,760$638,100
Kossuth County$331,760$638,100
Lee County$331,760$638,100
Linn County$331,760$638,100
Louisa County$331,760$638,100
Lucas County$331,760$638,100
Lyon County$331,760$638,100
Madison County$331,760$638,100
Mahaska County$331,760$638,100
Marion County$331,760$638,100
Marshall County$331,760$638,100
Mills County$331,760$638,100
Mitchell County$331,760$638,100
Monona County$331,760$638,100
Monroe County$331,760$638,100
Montgomery County$331,760$638,100
Muscatine County$331,760$638,100
O’brien County$331,760$638,100
Osceola County$331,760$638,100
Page County$331,760$638,100
Palo Alto County$331,760$638,100
Plymouth County$331,760$638,100
Pocahontas County$331,760$638,100
Polk County$331,760$638,100
Pottawattamie County$331,760$638,100
Poweshiek County$331,760$638,100
Ringgold County$331,760$638,100
Sac County$331,760$638,100
Scott County$331,760$638,100
Shelby County$331,760$638,100
Sioux County$331,760$638,100
Story County$331,760$638,100
Tama County$331,760$638,100
Taylor County$331,760$638,100
Union County$331,760$638,100
Van Buren County$331,760$638,100
Wapello County$331,760$638,100
Warren County$331,760$638,100
Washington County$331,760$638,100
Wayne County$331,760$638,100
Webster County$331,760$638,100
Winnebago County$331,760$638,100
Winneshiek County$331,760$638,100
Woodbury County$331,760$638,100
Worth County$331,760$638,100
Wright County$331,760$638,100

Business Loans in Iowa

If your business needs capital, the online lenders below offer quality service and can help structure a loan that’s right for you:

Amount

Up to $10,000,000

APR

Vary

Min Credit Score

0

Licensed in Iowa

Yes

Amount

$5,000 - $500,000

APR

9.77% - 35.98%

Min Credit Score

600

Licensed in Iowa

Yes

Amount

$5,000 - $500,000

APR

5.99% – 35.99%

Min Credit Score

500

Licensed in Iowa

Yes

Amount

Up to $250,000

APR

24% – 99%

Min Credit Score

560

Licensed in Iowa

Yes

Amount

Up to $350,000

APR

9.28 - 10.52%

Min Credit Score

650

Licensed in Iowa

Yes

Amount

Up to $350,000

APR

10.00 - 25.00%

Min Credit Score

680

Licensed in Iowa

Yes

Amount

$75,000 - $5,000,000

APR

5.50 - 8.25%

Min Credit Score

650

Licensed in Iowa

Yes

Amount

Up to $500,000

APR

12.18 - 36.00%

Min Credit Score

660

Licensed in Iowa

Yes

Amount

Up to $500,000

APR

9.00 - 99.00%

Min Credit Score

600

Licensed in Iowa

Yes

Amount

Up to $5,000,000

APR

15.00 - 78.00%

Min Credit Score

600

Licensed in Iowa

Yes

Amount

Up to $1,000,000

APR

Vary

Min Credit Score

0

Licensed in Iowa

Yes

Amount

$6,000 to $250,000

APR

Vary

Min Credit Score

0

Licensed in Iowa

Yes

However, if you prefer a local touch, consider the Siouxland Economic Development Corporation (SEDC):

Siouxland Economic Development Corporation (SEDC)

The Siouxland Economic Development Corporation (SEDC) was incorporated in 1979 and is a certified SBA loan company and Microloan intermediary. Its Board of Directors consists of volunteer members representing business, labor, government, and civic interests across communities in Iowa.

The SEDC offers three types of loans:

  • Microloans allow you to borrow up to $50,000. However, amounts greater than $15,000 require a denial letter from your financial institution. The interest rate is fixed at 8% and no down payment is required. Loans take 30 to 45 days to process and items purchased – such as inventory, supplies or machinery – are used as collateral to secure the loan. A personal guaranty is also required.
  • Revolving Loans offer the lessor of $100,000 or 25% of the total project cost – given the project creates jobs in the state. If not, you can borrow the lessor of $40,000 or 25% of the total project cost if no jobs are created. Interest rates have a 3.50% floor and are usually 2% below a primary lender’s rate. As well, a 10% down payment is required and your term depends on the collateral provided.
  • SBA 504 Loans allow you to borrow up to $5 million or 40% of the projects cost. Terms usually range from 10 to 20 years and interest rates are approximately 1% to 1 ½% above the 5 and 10-year Treasury Note. Down payments also range from 10% to 20%.

To learn more, you can visit the SEDC at: 617 Pierce St, Ste 202, Sioux City, IA 51101. Or you can call them at: (712) 279-6430.

Conclusion

For Consumer Credit Loans, Iowa regulators require a cap of $1,000. Finance charges cannot exceed 21% annually and terms vary from 25 to 37 months. Payday loans – which are classified as delayed deposit loans – are legal in Iowa, though amounts are capped at $500. APRs average 336% and borrowers are limited to two payday loans at a time. Conversely, car title loans are illegal in Iowa. It took years, but state senators finally drove the product out of Iowa.

Elite Personal Finance

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