SBA backs $2.3M in Central Iowa business loans
BUSINESS RECORD STAFF Jul 6, 2018 | 8:19 pm
1 min read time244 wordsAll Latest News, Economic Development
The U.S. Small Business Administration will back $2.3 million in loans to businesses in Boone, Polk and Warren counties, according to a release from the SBA.
The businesses include restaurants, freight companies, an automobile repair shop, a residential remodeler and a lessor of nonresidential buildings.
In all of Iowa, the SBA backed 35 loans for $11.5 million. The loans are issued by participating lenders and secured in part by SBA guarantees.
The SBA 7(a) and 504 programs supported financing for 28 new and five existing businesses that reported creating 74 new jobs and retaining 127 jobs as a result.
In Boone County, the SBA supported a $125,000 loan to MTM Trucking LLC that will help retain six jobs.
In Polk County, BAH Brazilian Steakhouse in Ankeny received $150,000 that will help lead to 15 new jobs; ASA Properties LLC in Des Moines will receive $1 million that will result in two new jobs and retain 13; IFKA Transportation LLC in Des Moines received $35,000; Action Auto Body LLC in Des Moines received $25,000 that will create two jobs and retain 13; and Webster Works LLC of Runnells will receive $888,700 that will support six new jobs and two existing jobs.
In Warren County, MishMash Sweet Treats in Indianola will receive $66,000 and create four jobs and VSTARR LLC in Norwalk will receive $25,000 that will help support three new jobs while retaining one.
See the complete listing of Central Iowa SBA loans. (Insider)