SBA backs more than $7M in Central Iowa loans in July
BUSINESS RECORD STAFF Aug 24, 2022 | 8:04 pm
1 min read time
164 wordsAll Latest News, Economic DevelopmentThe U.S. Small Business Administration backed 14 loans to Central Iowa businesses totaling $7,062,400 in July.
The loans will help those small businesses create 63 new jobs and retain 146 local jobs, according to data released by the SBA and compiled for Central Iowa companies by the Business Record.
The largest loans by dollar amount in Central Iowa included:
- Iowa Spring Manufacturing & Sales Inc., for an existing spring manufacturing business in Adel, $3,137,000.
- True Pitch, for a new sporting and athletic goods manufacturing company in Altoona, $940,000.
- Wolf Construction Services Inc., for an existing commercial and institutional building construction company in West Des Moines, $742,000.
Statewide in July, the SBA backed 35 loans for $25,508,800 to Iowa businesses from participating lenders using its two largest lending programs.
The SBA 7(a) and 504 programs capitalized 23 new and 12 existing businesses that report creating 89 new jobs and retaining 338 jobs as a result.
See the complete listing of Central Iowa SBA loans (Insider).