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SBA backs $16M in loans in central Iowa


The U.S. Small Business Administration guaranteed 21 private loans for a combined $16.4 million in July for projects expected to create 159 jobs in Central Iowa. 

That was the highest number of loans, and the highest amount, so far this year, and topped all monthly totals for 2018. Central Iowa includes Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties. 

Fridley Theaters LLC borrowed $5 million for its new theaters in Waukee, which will add 52 jobs. 
Among the other larger loans was $3.6 million to Panama Transfer Inc. of Ankeny, a trucking firm that employs 302. 

An Urbandale firm, 60 on Set LLC, took out a $3.2 million loan for a building material business that plans to add 10 jobs. 

AMD Properties LLC of Des Moines borrowed $794,000 for home furnishing operations expected to create 11 jobs. 

Statewide, the SBA backed 42 loans for $23.5 million. Those businesses included 20 new operations. 

Combined, the businesses whose loans were backed by the SBA across Iowa expect to create 262 new jobs and retain 182 jobs.

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

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