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SBA-backed loans to Central Iowa companies top $6.5M in July


Fourteen Central Iowa businesses received loans in July that were backed by the U.S. Small Business Administration. Those loans totaled $6,545,200.

The 14 loans are expected to create 22 new jobs and retain 57 existing jobs. The nine-county Central Iowa region includes Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties.

Among the top loans in July by dollar value were:
– Siva Hotels LLC, an existing accommodations and food services business in Clive, for $2,840,000.
– C&Amp; C Realty Holdings LLC, an existing wholesale trade business in Des Moines, for $1,388,000.
– Northland Business Systems Inc., an existing wholesale trade business in Des Moines, for $763,000.

Statewide in July, the SBA backed 49 loans for $24,096,200 to Iowa businesses from participating lenders using its two largest lending programs.

The SBA 7(a) and 504 programs capitalized 14 new and 35 existing businesses that reported creating 202 new jobs and retaining 296 jobs as a result.

See the complete list of Central Iowa SBA-backed loans. (Insider).

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