Loans By State

Best Loans in Iowa, Payday, Auto Title Laws 2020

EPF Last Update: June 7, 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 – $10,000

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

7.95% - 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

7.99% - 35.97%

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 Loan Laws in Iowa 2020

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.

City Amount Allowed APR Allowed Status
Des Moines $500 337% Legal
Cedar Rapids $500 337% Legal
Davenport $500 337% Legal
Sioux City $500 337% Legal
Iowa City $500 337% Legal
Waterloo $500 337% Legal
Ames $500 337% Legal
West Des Moines $500 337% Legal
Council Bluffs $500 337% Legal
Ankeny $500 337% Legal
Dubuque $500 337% Legal
Urbandale $500 337% Legal
Cedar Falls $500 337% Legal
Marion $500 337% Legal
Bettendorf $500 337% Legal
Mason City $500 337% Legal
Marshalltown $500 337% Legal
Clinton $500 337% Legal
Burlington $500 337% Legal
Ottumwa $500 337% Legal
Fort Dodge $500 337% Legal
Muscatine $500 337% Legal
Johnston $500 337% Legal
Coralville $500 337% Legal
Waukee $500 337% Legal
North Liberty $500 337% Legal
Altoona $500 337% Legal
Clive $500 337% Legal
Indianola $500 337% Legal
Newton $500 337% Legal
Boone $500 337% Legal
Grimes $500 337% Legal
Oskaloosa $500 337% Legal
Spencer $500 337% Legal
Storm Lake $500 337% Legal
Fort Madison $500 337% Legal
Norwalk $500 337% Legal
Keokuk $500 337% Legal
Pella $500 337% Legal
Fairfield $500 337% Legal
Waverly $500 337% Legal
Carroll $500 337% Legal
Le Mars $500 337% Legal
Pleasant Hill $500 337% Legal
Grinnell $500 337% Legal
Mount Pleasant $500 337% Legal
Denison $500 337% Legal
Creston $500 337% Legal
Webster City $500 337% Legal
Decorah $500 337% Legal
Perry $500 337% Legal
Clear Lake $500 337% Legal
Sioux Center $500 337% Legal
Charles City $500 337% Legal
Washington $500 337% Legal
Hiawatha $500 337% Legal
Knoxville $500 337% Legal
Nevada $500 337% Legal
Atlantic $500 337% Legal
Eldridge $500 337% Legal
Orange City $500 337% Legal
Oelwein $500 337% Legal
Independence $500 337% Legal
Maquoketa $500 337% Legal
Estherville $500 337% Legal
Bondurant $500 337% Legal
Centerville $500 337% Legal
Asbury $500 337% Legal
Anamosa $500 337% Legal
Algona $500 337% Legal
Red Oak $500 337% Legal
Clarinda $500 337% Legal
Glenwood $500 337% Legal
Winterset $500 337% Legal
DeWitt $500 337% Legal
Sheldon $500 337% Legal
Vinton and Iowa Falls $500 337% Legal
Manchester $500 337% Legal
Osceola and Spirit Lake $500 337% Legal
Windsor Heights $500 337% Legal
Cherokee $500 337% Legal
Shenandoah $500 337% Legal
Harlan $500 337% Legal
Evansdale $500 337% Legal
Sergeant Bluff $500 337% Legal
Humboldt $500 337% Legal
Polk City $500 337% Legal
Mount Vernon $500 337% Legal
Camanche $500 337% Legal
Adel $500 337% Legal
Hampton $500 337% Legal
Jefferson $500 337% Legal
Chariton $500 337% Legal
Carlisle $500 337% Legal
Dyersville $500 337% Legal
Forest City $500 337% Legal
Le Claire $500 337% Legal
Monticello $500 337% Legal
Carter Lake $500 337% Legal
Cresco $500 337% Legal
Emmetsburg $500 337% Legal
Albia $500 337% Legal
West Liberty $500 337% Legal
Waukon $500 337% Legal
Rock Valley $500 337% Legal
Huxley $500 337% Legal
Osage $500 337% Legal
Saylorville $500 337% Legal
New Hampton $500 337% Legal
Eagle Grove $500 337% Legal
Robins $500 337% Legal
Story City $500 337% Legal
Tipton $500 337% Legal
Williamsburg $500 337% Legal
Garner $500 337% Legal
Tiffin $500 337% Legal

Car Title Loans in Iowa 2020

Car title loans are illegal in Iowa.

Best Auto Loans for Bad Credit in Iowa 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Iowa

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Iowa

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Iowa

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Iowa

Yes

Amount

Up to $100,000

Min Credit Score

0

APR

Vary

Licensed in Iowa

Yes

Amount

$8,000 - $100,000

Min Credit Score

500

APR

2.74% - 27%

Licensed in Iowa

Yes

Amount

$1,000 - $100,000

Min Credit Score

500

APR

From 3.09%

Licensed in Iowa

Yes

Amount

$250 - $500,000

Min Credit Score

640

APR

2.99% - 21.99%

Licensed in Iowa

Yes

Amount

$1,500 - $20,000

Min Credit Score

0

APR

18.00% - 35.99%

Licensed in Iowa

Yes

Amount

$1,000 - $45,000

Min Credit Score

0

APR

From 0.99%

Licensed in Iowa

Yes

Amount

$1,000 - $35,000

Min Credit Score

0

APR

From 1.99%

Licensed in Iowa

Yes

Amount

$7,500 - $50,000

Min Credit Score

500

APR

From 3.39%

Licensed in Iowa

Yes

Amount

$5,000 – $55,000

Min Credit Score

510

APR

3.99% - 24.99%

Licensed in Iowa

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

3.90% - 27.90%

Licensed in Iowa

Yes

Best Auto Loans for Good Credit in Iowa 2020

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Iowa

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

From 1.99%

Licensed in Iowa

Yes

Amount

$1,000 - $100,000

Min Credit Score

500

APR

From 3.09%

Licensed in Iowa

Yes

Amount

$250 - $500,000

Min Credit Score

640

APR

2.99% - 21.99%

Licensed in Iowa

Yes

Amount

$5,000-$100,000

Min Credit Score

660

APR

4.99% to 9.19%

Licensed in Iowa

Yes

Amount

$7,500 - $50,000

Min Credit Score

500

APR

From 3.39%

Licensed in Iowa

Yes

Amount

$8,000 - $100,000

Min Credit Score

500

APR

2.74% - 27%

Licensed in Iowa

Yes

Amount

$1,000 - $100,000

Min Credit Score

0

APR

3.90% - 27.90%

Licensed in Iowa

Yes

Amount

$3,000 - $100,000

Min Credit Score

650

APR

From 3.12%

Licensed in Iowa

Yes

Amount

$5,000 - $100,000

Min Credit Score

640

APR

From 3.54%

Licensed in Iowa

Yes

Amount

$5,000 – $55,000

Min Credit Score

510

APR

3.99% - 24.99%

Licensed in Iowa

Yes

Amount

$5,000 - $100,000

Min Credit Score

600

APR

3.54% - 10.24%

Licensed in Iowa

Yes

Amount

$1,500 - $20,000

Min Credit Score

0

APR

18.00% - 35.99%

Licensed in Iowa

Yes

Credit Unions in Iowa

Name: APR: Amount:
Veridian Credit Union 7.50% – 21.00% Up to $40,000
Dupaco Community Credit Union 8.50%+ $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

Name City Size (Millions) Members
VERIDIAN CREDIT UNION Waterloo $2,019.28 165849
UNIVERSITY OF IOWA COMMUNITY CREDIT UNION Iowa City $1,422.34 90244
COLLINS COMMUNITY CREDIT UNION Cedar Rapids $685.39 64102
DUPACO COMMUNITY CREDIT UNION Dubuque $975.14 63772
COMMUNITY 1ST CREDIT UNION Ottumwa $368.93 45983
DU TRAC COMMUNITY CREDIT UNION Dubuque $514.64 40440
COMMUNITY CHOICE CREDIT UNION Johnston $334.72 35518
ASCENTRA CREDIT UNION Bettendorf $257.14 30814
GREATER IOWA CREDIT UNION Ames $283.84 28790
LINN AREA CREDIT UNION Cedar Rapids $284.34 23632
MEMBERS1ST COMMUNITY CREDIT UNION Marshalltown $139.84 19367
THE FAMILY CREDIT UNION Davenport $113.95 17079
TELCO-TRIAD COMMUNITY CREDIT UNION Sioux City $74.99 16767
CITIZENS COMMUNITY CREDIT UNION Fort Dodge $144.67 14561
PREMIER CREDIT UNION Des Moines $97.35 14412
AFFINITY CREDIT UNION Des Moines $66.01 11978
FINANCIAL PLUS CREDIT UNION West Des Moines $95.30 11767
FIRST CLASS CREDIT UNION West Des Moines $58.01 10669
IOWA COMMUNITY CREDIT UNION Cedar Falls $77.98 10261
NORTH IOWA COMMUNITY CREDIT UNION Mason City $60.04 10177
NORTH STAR CREDIT UNION Cherokee $66.89 9540
ALLIANT CREDIT UNION Dubuque $87.04 9330
CEDAR FALLS COMMUNITY CREDIT UNION Cedar Falls $87.49 8839
1ST GATEWAY CREDIT UNION Camanche $80.48 8162
FIRST FEDERAL CREDIT UNION Cedar Rapids $144.18 8067
MEMBERS COMMUNITY CREDIT UNION Muscatine $47.63 6758
EMPLOYEES CREDIT UNION Estherville $74.80 6702
LENNOX EMPLOYEES CREDIT UNION Marshalltown $33.48 6226
TRADESMEN COMMUNITY CREDIT UNION Des Moines $37.56 6170
CASEBINE COMMUNITY CREDIT UNION West Burlington $29.49 5810
DES MOINES METRO CREDIT UNION Des Moines $42.97 5519
ADVANTAGE CREDIT UNION Newton $49.22 5353
RIVER VALLEY CREDIT UNION Ames $47.34 5233
NISHNA VALLEY CREDIT UNION Atlantic $23.95 5126
THE CORNERSTONE CREDIT UNION Des Moines $14.56 4743
N.W. IOWA CREDIT UNION Le Mars $35.15 4511
MERCY-CITY-LEHIGH FAMILY CREDIT UNION Mason City $30.59 4500
MIDLAND CREDIT UNION Urbandale $37.11 4355
FEDERAL EMPLOYEES CREDIT UNION Des Moines $18.27 4227
FAMILY COMMUNITY CREDIT UNION Charles City $18.33 4134
UNITED SERVICE CREDIT UNION Des Moines $35.88 4122
EDCO COMMUNITY CREDIT UNION Des Moines $39.43 4098
MIDWEST COMMUNITY CREDIT UNION Sioux City $21.67 3974
METCO CREDIT UNION Cedar Rapids $22.65 3967
HENRY COUNTY COMMUNITY CREDIT UNION Mt Pleasant $17.96 3882
PEOPLES CREDIT UNION Webster City $20.92 3739
ACE COMMUNITY CREDIT UNION Ames $32.32 3641
IOWA HEARTLAND CREDIT UNION Mason City $19.08 3590
THE HUB-CO CREDIT UNION Keokuk $13.92 3195
AEGIS CREDIT UNION Clinton $9.88 3163
RIVER COMMUNITY CREDIT UNION Ottumwa $14.57 2880
FORT DODGE FAMILY CREDIT UNION Fort Dodge $20.94 2840
MERIDIAN CREDIT UNION Ottumwa $31.32 2831
UNI CREDIT UNION Cedar Falls $17.48 2683
UNITED CREDIT UNION Council Bluffs $13.43 2656
THE MUNICIPAL CREDIT UNION Sioux City $12.95 2621
TEAMSTERS LOCAL #238 CREDIT UNION Cedar Rapids $7.43 2452
FRONTIER COMMUNITY CREDIT UNION Fort Dodge $16.04 2396
BENT RIVER COMMUNITY CREDIT UNION Davenport $21.61 2390
RACOM COMMUNITY CREDIT UNION Dyersville $11.74 2288
SIOUX VALLEY COMMUNITY CREDIT UNION Sioux City $22.19 2279
SCOTT SCHOOLS CREDIT UNION Davenport $18.35 2261
DES MOINES POLICE OFFICERS CREDIT UNION Des Moines $35.19 2243
PUBLIC EMPLOYEES CREDIT UNION Waterloo $24.95 2184
THREE I CREDIT UNION Burlington $7.49 2148
VILLAGE CREDIT UNION Des Moines $8.96 2116
TOWN AND COUNTRY CREDIT UNION Harlan $12.83 2027
CAPITOL VIEW CREDIT UNION Des Moines $25.75 1920
QUAKER OATS CREDIT UNION Cedar Rapids $6.83 1893
POLK COUNTY SCHOOLS EMPLOYEES CREDIT UNION Urbandale $9.72 1761
POWER CO-OP EMPLOYEES CREDIT UNION Humboldt $25.21 1688
ALLEN HOSPITAL PERSONNEL CREDIT UNION Waterloo $5.15 1652
CONSUMERS CREDIT UNION Denison $5.29 1644
CHEMICAL CREDIT UNION Clinton $11.54 1603
DUBUQUE TEACHERS CREDIT UNION Dubuque $14.70 1582
EMC CREDIT UNION Des Moines $7.31 1343
CHICAGO CENTRAL AND COMMERCE CREDIT UNION Waterloo $7.03 1330
HOLY GHOST PARISH CREDIT UNION Dubuque $28.57 1259
RIVER BEND CREDIT UNION West Burlington $7.38 1242
MIDWEST FEDERAL EMPLOYEES CREDIT UNION Waterloo $7.68 1231
NORTH WESTERN EMPLOYEES CREDIT UNION Council Bluffs $7.32 1165
INDUSTRIAL EMPLOYEES CREDIT UNION Centerville $8.00 1146
GOVERNMENT EMPLOYEES CREDIT UNION Mason City $4.23 1125
ACE CREDIT UNION Mason City $9.06 1069
DES MOINES FIRE DEPARTMENT CREDIT UNION Des Moines $6.15 1016
POLK COUNTY CREDIT UNION Des Moines $3.70 991
ASHWORTH CREDIT UNION West Des Moines $6.21 974
WARREN CREDIT UNION Waterloo $5.85 912
SCICAP CREDIT UNION Chariton $2.59 862
GENERAL DRIVERS CREDIT UNION Dubuque $6.62 811
USDA CREDIT UNION Des Moines $4.15 797
A – E EMPLOYEES CREDIT UNION Des Moines $2.67 778
EATON EMPLOYEES CREDIT UNION Shenandoah $2.18 755
KAH CREDIT UNION Keokuk $2.19 755
K.E.M. CREDIT UNION Keokuk $0.60 733
EAGLE ROCK CREDIT UNION Clinton $3.45 729
S E C U CREDIT UNION Keokuk $1.72 695
BURLINGTON MUNICIPAL EMPLOYEES CREDIT UNION Burlington $3.57 646
LOUDEN DEPOT COMMUNITY CREDIT UNION Fairfield $3.05 628
LEECO CREDIT UNION Keokuk $2.06 583
MIDWEST UTILITIES CREDIT UNION Waterloo $2.18 577
GAS & ELECTRIC EMPLOYEES CREDIT UNION Mason City $4.75 530
VON MAUR EMPLOYEES CREDIT UNION Davenport $0.48 507
DES MOINES WATER WORKS CREDIT UNION Des Moines $1.42 490
WATERLOO POLICE CREDIT UNION Cedar Falls $2.67 483
EATON EMPLOYEES CREDIT UNION Spencer $1.82 472
DES MOINES COUNTY POSTAL CREDIT UNION Burlington $2.94 466
DU PONT EMPLOYEES CREDIT UNION Fort Madison $3.06 465
MHI INDEPENDENCE EMPLOYEES CREDIT UNION Independence $1.58 456
WATERLOO FIREMEN’S CREDIT UNION Waterloo $2.17 418
ETS CREDIT UNION Eldora $2.14 417
GREAT RIVER ROAD CREDIT UNION Buffalo $2.28 409
NORTHWESTERN STATES CEMENT EMPLOYEE CREDIT UNION Mason City $0.81 401
LEHIGH VALLEY CREDIT UNION Lehigh $3.83 397
N.G.P.L. EMPLOYEES CREDIT UNION St Charles $2.96 391
OELWEIN-CRESCO CREDIT UNION Cresco $1.12 367
DAVENPORT POLICE DEPARTMENT CREDIT UNION Davenport $3.63 363
ST. ATHANASIUS CREDIT UNION Jesup $0.46 309
POSTAL EMPLOYEES CREDIT UNION Fort Dodge $1.58 306
M. A. FORD EMPLOYEES CREDIT UNION Davenport $0.95 283
DUBUQUE POSTAL EMPLOYEES CREDIT UNION Dubuque $4.77 268
MUNI EMPLOYEES CREDIT UNION Ottumwa $0.75 264
A.Y. MCDONALD EMPLOYEES CREDIT UNION Dubuque $0.67 237
WEBSTER CITY MUNICIPAL CREDIT UNION Webster City $0.49 231
MORRISON EMPLOYEES CREDIT UNION Dubuque $1.75 226
CIRCLE K CREDIT UNION Dubuque $0.77 223
URBANDALE MUNICIPAL EMPLOYEES CREDIT UNION Urbandale $1.49 193
BILT-WELL CREDIT UNION Dubuque $0.92 182
ST. LUDMILA S CREDIT UNION Cedar Rapids $0.37 180
RIMODA CREDIT UNION Davenport $0.39 162

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.

County Single 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.

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