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SBA backed loans for nearly $1M in February

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The U.S. Small Business Administration backed 14 private loans for Central Iowa businesses that borrowed a combined $966,700 in February. 

The businesses planned to create nine jobs and retain 36.

Among the bigger loans was Scott Dewhurst’s $350,000 loan for an investment advice business in West Des Moines expected to retain two jobs. Arch Foot and Ankle PC of Norwalk borrowed $164,000 and plans to add two jobs. Applegate Tax & Accounting LLC of Winterset took out a $162,000 loan and planned to retain five jobs.

The February total was an unusually small amount for the combined loans. In December, the SBA backed 24 loans that were for a combined $5.4 million. In January, 10 loans were for a combined $4.4 million. 

Statewide, the SBA backed 43 loans for $9,287,400 for 26 new and 17 existing businesses in February. That was expected to result in 67 new jobs and 223 retained positions. 

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