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SBA backs 15 Central Iowa loans for $8.4 million in September


The U.S. Small Business Administration backed 15 loans to Central Iowa businesses totaling $8,374,100 in September.

The loans will help those small businesses create 66 new jobs and retain 115 local jobs, according to data released by the SBA and compiled for Central Iowa companies by the Business Record.

The largest loans by dollar amount in Central Iowa included:

  • Garrels Business Enterprises LLC, Urbandale, for an existing full-service restaurant, $1,677,000.
  • Faller, Kincheloe & Co. PLC, Des Moines, for a new certified public accounting office, $1,620,500.
  • MKZ Properties LLC, for a new business in Indianola (lessors of other real estate property), $1,418,000.
  • First Midwest LLC, Urbandale, for a new child day care services business, $1,389,000.

Statewide, the SBA backed 35 loans for $21,226,900 to Iowa businesses from participating lenders using its two largest lending programs. The 7(a) and 504 programs capitalized 20 new and 15 existing businesses that report creating 135 new jobs and retaining 176 jobs as a result.

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

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