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SBA backs $5.8M in loans to Central Iowa businesses in June


The U.S. Small Business Administration backed 19 loans to Central Iowa businesses totaling $5,819,800 in June.

The loans will help those small businesses create 616 new jobs and retain 372 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:

  • Luellen Richardson Insurance Inc., for a new insurance agency in Dallas Center, for $1,175,000.
  • Edotto Slims LLC, for a new limited-service restaurant in Ankeny, for $913,000.
  • All Star Daycare Inc., for an existing child day care service in Des Moines, for $559,000.

Statewide in June, the SBA backed 47 loans for $16,368,100 to Iowa businesses from participating lenders using its two largest lending programs.

The SBA 7(a) and 504 programs capitalized 26 new and 21 existing businesses that reported creating 247 new jobs and retaining 152 jobs as a result.

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

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