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SBA backs 35 loans for $15.7 million in Iowa during March


The U.S. Small Business Administration in March backed loans for eight Central Iowa businesses, for a collective total of more than $3.18 million in value. The companies receiving loans reported creating 22 jobs and retaining 68 jobs as a result of the lending activity.

Statewide, the SBA backed a total of 35 loans totaling $15,712,000 in March, using its two largest lending programs — the 7(a) and 504 programs. Of those companies, 13 are new businesses and 22 are existing companies. In all, the March loans helped to create 144 new jobs and retain 262 jobs in the state.

Among the largest loans guaranteed to Central Iowa businesses (Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties) in March were:

– Jordi Fitness LLC, Ankeny — $889,000 for an existing arts, entertainment and recreation business.
– E&P Properties LLC, Ankeny — $719,000 for an existing health care and social assistance business.
– Royal Flooring and Paints of Iowa LLC, Urbandale — $620,000 for an existing retail trade business.
See the complete listing of Central Iowa SBA loans (Insider).

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