The U.S. Small Business Administration guaranteed 405 private loans for a combined $169.6 million in fiscal year 2018, which ended Sept. 30.

That was slightly fewer than the 455 loans backed for a combined $155 million the year before. The loans supported $212 million in total lending to small businesses in Iowa, up from $195 million in FY 2017.

Wells Fargo Bank was the top lender in Iowa in the SBA flagship program, at $5.8 million. Iowa Business Growth Co., based in Johnston, led another major program, at $12.49 million for long-term, fixed-asset financing projects.

“Although our loan volume decreased slightly from the previous year, the dollar volume of SBA loans in Iowa increased by $14.6 million from the previous year,” said Jayne Armstrong, director of the SBA’s Iowa District Office. “A strong national economy is creating a competitive environment for small business lending, driving more lenders to conventional loans. This is a positive for small businesses, but SBA remains a critical resource for small startups and expansions.”