Lincoln Savings Bank Named Top Small Business Lender
Written by Angela Evans
[Waterloo, Iowa] – Lincoln Savings Bank has been named the top 7(a) Small Business Lender in Iowa by the Small Business Administration for fiscal year 2022. As an SBA lender, Lincoln Savings Bank stepped up and reached top status with 36 loans totaling more than $20 million.
"As the #1 small business lender in Iowa, we empower dreams and fuel success. We believe in the power of entrepreneurship and are committed to providing unparalleled support, tailored solutions, and unwavering dedication to help small businesses thrive and reach new heights. Together, we build legacies, create opportunities, and redefine what it means to be a leader in the world of small business financing." - Diane Heyden, Head of Government Guaranteed Lending at Lincoln Savings Bank
From the state perspective, the SBA approved a total of $242.6 million in loan guarantees for Iowa companies in fiscal year 2022. The fiscal year 2022 Regular Program loan totals for the state of Iowa were: 7(a) Loan Program - 357 loans approved for $142,865,000 and 504 Loan Program - 109 loans approved for $99,763,000.
As a direct result of SBA guaranteed 7(a) and 504 loans, a total of 2,052 reported jobs were created in Iowa and an additional 3,020 jobs were retained.
The SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their business. LSB is proud to be an SBA lender and help make an impact in our communities through these loan programs.
To learn more about SBA programs, please visit: mylsb.com/sba
About Lincoln Savings Bank:
We may have been founded in 1902, but we’re anything but dated. Yes, we are proud of our rich history because a strong foundation only enhances our focus on the future - helping businesses grow and customers protect what they’ve worked so hard to build. As leaders in financial tech and supporters of our communities, our commitment to better banking is real, and it’s personal. Visit MyLSB.com or find us on Facebook. Member FDIC.