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SBA backed fewer loans in November


The U.S. Small Business Administration backed seven private loans for Central Iowa businesses in November, tying July’s total for the smallest batch of the year. 

The private loans were for a combined $2.06 million, the lowest monthly total this year. 

The businesses together plan to add 20 jobs and retain 40. The only seven-figure loan, for $1 million, went to Statistics & Controls Inc., a West Des Moines computer programming firm that plans to retain 22 jobs.

LP Midwest Inc., an auto repair operation in Clive, borrowed $350,000 privately and expects to create four jobs.

Statewide, SBA backed 26 loans for $5.9 million to 15 new and 11 existing businesses that created 130 jobs and retained 59.

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

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