SBA backed $5.4M in area loans in November
BUSINESS RECORD STAFF Dec 12, 2016 | 3:50 pm
1 min read time
143 wordsAll Latest News, Economic Development, Retail and Business
The U.S. Small Business Administration backed 14 private loans for a combined $5.4 million in Central Iowa during November.
The businesses together agreed to create 39 jobs and retain 82. The Central Iowa area includes Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties.
Among the largest loans:
- $1.3 million for Peace Tree Brewing Co. in Knoxville, and a second loan for $500,000 in Des Moines. The projects each will create eight jobs.
- $1.3 million for Super 8 and Baymont Inn and Suites in Des Moines, expected to create five jobs and retain 15.
- $933,000 for Action Auto Body LLC in Des Moines, which plans to create two new jobs.
Statewide, the SBA backed 31 loans for $9,084,200. The businesses plan to create 103 new jobs and retain 258.
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