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SBA backed $2.6M in Central Iowa loans in August

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The U.S. Small Business Administration in August backed seven private loans totaling $2.6 million, one of the least active months this year.

Only in May had the number of loans been that small. And the $2.6 million was the third-smallest total. The businesses whose loans were backed expect to create a combined 26 jobs and retain 64. 

Central Iowa includes the counties of Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties. 

Among the largest loans was the $1.6 million for Drey Holdings LLC, a pet care company in Ankeny. Pet supplies store ZTJ 13 Enterprises Inc. of Newton borrowed $335,000. Ag Manufacturing & Technology Inc. of Prole borrowed $250,000 for its farm machinery and equipment business. 

Statewide, SBA backed 35 loans for $17.5 million for 22 new and 13 existing businesses. Together, those firms expect to create 90 new jobs and retaining 341 jobs as a result. 

See the complete listing of Central Iowa SBA loans. (Insider)