Business Loans

Keeping Up With Business Demands

O.K., so you're starting your own business or maybe just expanding existing operations. Because your business is not the same as your neighbor's, we'll help you choose from a variety of flexible Business Loans with terms and payment schedules designed to meet your business needs. All loans are subject to credit approval.

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 (for PDF version click here, for Excel version click here) .

When you’re ready to apply, please download and complete this Commercial Loan Application.

Credit Services to Build Your Business

Business Lines of Credit

Customized to Meet the Needs of Your Business
Funds Available to Take Advantage of Business Opportunities
Overdraft Protection
Low Monthly Payments

Term Loans

Variety of Terms Available
Funds for Vehicles and Equipment

Commercial Mortgages and Construction Loans

Funds available for purchasing, refinancing or constructing commercial real estate such as land development, manufacturing facilities, warehouse space, professional offices or apartments
Fixed or Variable Rates
Fixed rates avaiable for up to 15 years subject to certain qualifications

Small Business Administration (SBA) Loans

MidWestOne Bank is an SBA preferrd 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

Loans for real estate, equipment, buildings and improvement
Operating lines available for crop inputs, operating needs, livestock and feed, etc.

To learn more about the SBA loan program, click here. You will be entering a website separate from www.midwestone.com. MidWestOne is not responsible for the content of this site.

Business Loan Checklist

So things are looking good, you feel confident and you're ready to be your own boss. Before you get too far, 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
Resumé 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


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