SBA backs 11 central Iowa loans totaling $5.6M
BUSINESS RECORD STAFF Dec 9, 2015 | 8:48 pm
1 min read time
198 wordsAll Latest News, Economic DevelopmentThe U.S. Small Business Administration backed 11 private loans for a combined $5.6 million for Central Iowa businesses in November.
The loans helped create 27 jobs and keep 110 jobs in companies that had a combined workforce of 131. The Central Iowa region includes Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties.
The number of loans was the fourth-lowest this year, but the money involved was a bit above the mid-range.
Among the largest loans were $2.7 million for Accent Tag & Label Inc. of Des Moines, a printing operation expected to retain 40 jobs. Two other companies won support for loans of close to $1 million. LogiClean LLC, an Ames janitorial service had a loan for $900,000 and plans to retain 35 jobs. Sat Kartar Investment Inc., an Urbandale hotel and motel company, won backing for a $967,000 loan and plans to retain 18 jobs.
Statewide, SBA backed 38 private loans for a combined $20.7 million in Iowa in November. The loans were to 16 new and 22 existing businesses expected to create 105 jobs and retain 264.
Check out our Central Iowa SBA loan database, which contains all SBA loans in 2015, on BusinessRecord.com.Trending News
