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SBA-backed loans top $89M in Central Iowa for 2020


Small business loans backed by the U.S. Small Business Administration to Central Iowa businesses topped $89 million in 162 loans in 2020, a 24% dollar increase from the $71.7 million in 146 loans backed in 2019. 

In December, the SBA backed 16 loans for a total of $6,002,200 to Central Iowa businesses in the nine-county area tracked by the Business Record, which includes Polk, Story, Boone, Dallas, Warren, Madison, Marion, Jasper and Marshall counties. 

Those 16 loans are expected to create 65 new jobs and retain an additional 114 jobs. Among the largest loans last month in Central Iowa were: 

– Effluent Inc., $1,295,900 for an existing septic tank services company in Des Moines. 
– Integral Delivery & Service, $900,000 for an existing local freight trucking business in Des Moines. 
– Vandenberg Veterinary Services, $690,000 for a new veterinary clinic in Ankeny. 

For the full year, SBA-backed loans to Central Iowa businesses were credited with creating 834 new jobs and retaining 1,031 jobs in 2020, according to SBA data compiled by the Business Record. 

Statewide in December, the SBA backed 33 loans for $16,397,200 to Iowa businesses from participating lenders using its two largest lending programs. The SBA 7(a) and 504 programs capitalized 18 new and 15 existing businesses, which reported creating a total of 140 new jobs and retaining 498 jobs as a result. 

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

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