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Nearly $3.7M in Central Iowa SBA loans backed in February


The U.S. Small Business Administration in February backed 16 loans totaling nearly $3.7 million to Central Iowa businesses. Central Iowa is defined as Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties.

Those 16 loans are expected to create 86 new jobs and retain 65 jobs. Among the top Central Iowa loans in February by dollar amount were:

– Bho Holdings LLC, a new accommodations and food services business in Des Moines, for $860,000.
– Primrose School of Urbandale, a new health care and social assistance business in Urbandale, for $631,600.
– Q&S LLC, a new transportation and warehousing business in Grimes, for $603,500.

February’s loan figures represented three times the number of loans in the month a year ago, but a lower total dollar amount. In February 2020, a month before the pandemic began in Iowa, there were five SBA-backed loans to Central Iowa businesses for a total of over $6.8 million.

Across Iowa, last month the SBA backed 35 loans for $13,838,900 to businesses from participating lenders using its two largest lending programs. The SBA 7(a) and 504 programs capitalized eight new and 27 existing businesses that reported creating 196 new jobs and retaining 108 jobs as a result.

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

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