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SBA backs $5.6M in loans to Central Iowa businesses in April


The U.S. Small Business Administration backed 12 loans to Central Iowa businesses totaling $5,593,900 in March.

The loans will help those small businesses create 36 new jobs and retain 99 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:

  • Chaos Tackle and Rods LLC, a new Adel sporting and recreational supplies business, for $2,325,000.
  • DD Story Holdings, for a new limited-services restaurant in Story City, for $979,000.
  • McDivots Sports Pub, for a new drinking place in Grimes, for $450,000.

Statewide in April, the SBA backed 33 loans for $12,369,800 to Iowa businesses from participating lenders using its two largest lending programs.

The SBA 7(a) and 504 programs capitalized 18 new and 15 existing businesses that report creating 102 new jobs and retaining 157 jobs as a result.

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

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