As one of the major Iowa credit union lenders for SBA Loans, Community 1st Credit Union can help your small business start, expand and succeed. Whether your business is large or small, C1st will guide you through the application process with knowledgeable lenders who understand your business and goals. C1st also offers a number of other products and services for small businesses, guaranteed to beat the competition. Give us a try, we dare you to compare us with the others.

What do I need to apply?

• Business Plan
• Personal Financial Statements
• Business Financial Statements (if already a business)
• Collateral Available to secure the loan
• Assumptions used in your projected earnings statements
• Management resumes of those involved in operating the business
• Pro-forma balance sheet showing what the business would look like if the loan were granted.

Maximum Loan Amount

• $2,000,000

• Maximum guaranty of 90%

• Expansion/Renovation
• New construction
• Purchase land or buildings
• Purchase equipment, fixtures, leasehold improvements
• Working capital
• Refinance debt for compelling reasons
• Seasonal Line of Credit
• Inventory

• Working Capital, Machinery & Equipment (not to exceed life of equipment) is 5-10 years
• Real Estate and Construction is up to 25 years.

• SCORE – provides counseling and training to small businesses.
  • www.score.org
  • Phone: 319.362.6405, ext. 2005 (Cedar Rapids Office)
  • Phone: 641.683.5127 (Ottumwa Office)
  • Phone: 515.284.4760 (Des Moines Office)
• Small Business Development Center – provides assistance with your business plan development. 
  • www.iowasbdc.org
  • Phone: 515.294.2030