SBA-backed loans picked up in May
The U.S. Small Business Administration backed 17 private loans for businesses in Central Iowa in May, the most in a single month this year.
The loans totaled $4.5 million and were for businesses in an area that includes Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties. The businesses expect to create 106 jobs and retain 68.
By comparison, in May 2017, 12 loans for $3.4 million were backed by the SBA.
Last month, the largest loans backed included:
- $840,000 for Berry Wealth Management Inc. in West Des Moines.
- $380,000 for Be a Blessing Inc. in Waukee, a restaurant operation.
- $315,000 for JFE Investments LLC of Des Moines, an industrial equipment wholesaler.
Statewide, the SBA backed 37 loans for $11.7 million, including 27 new businesses. The 37 loans were for projects expected to create 173 jobs and to retain 168.
See the complete listing of Central Iowa SBA loans. (Insider)