MRI scanners operating at ultra-low fields (ULF) promise to reduce the cost and expand the clinical accessibility of MRI. Here, we use an ULF (6.5 mT) MRI scanner and an efficient balanced steady-state free precession MRI protocol to image superparamagnetic iron oxide nanoparticles (SPIONS) in solution. We observe strong susceptibility effects due to the highly-magnetized state of SPIONs even at ULF. These susceptibility effects enable the most sensitive imaging of a contrast agent at ULF that we are aware of. These results will broaden the clinical applications of ULF MRI, and have implications for drug tracking and delivery in nanotheranostics.