SBA backed $2.6M in Central Iowa loans in August
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)