June SBA loans for Central Iowa businesses total $2.3M
BUSINESS RECORD STAFF Jul 8, 2021 | 3:39 pm
1 min read time162 wordsAll Latest News, Economic Development
Five Central Iowa businesses received loans in June that were backed by the U.S. Small Business Administration. Those loans totaled $2,303,200.
The five loans are expected to create 15 new jobs and retain eight existing jobs. Central Iowa is defined as Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties.
Among the top loans in May by dollar value were:
- Sveer 1 Hotel Inc., a new accommodation and food services business in Marshalltown, $1,665,000.
- Gs Ii Sales LLC, an existing wholesale trade business in West Des Moines, $285,000.
- Robert P. Sayer, an existing finance and insurance business in West Des Moines, $150,700.
Statewide, the SBA in June backed 33 loans for $17,934,700 to Iowa businesses from participating lenders using its two largest lending programs.
The SBA 7(a) and 504 programs capitalized 12 new and 21 existing businesses, which reported creating 187 new jobs and retaining 155 jobs as a result.
See the complete list of Central Iowa SBA-backed loans. (Insider).