SBA backs $6.7M in Central Iowa loans in November
BUSINESS RECORD STAFF Dec 21, 2020 | 5:01 pm
1 min read time
231 wordsAll Latest News, Economic DevelopmentThe U.S. Small Business Administration in November backed $6,740,000 in loans to Central Iowa businesses.
Those 13 loans are expected to create 82 new jobs and retain 63. Among the top loans in November:
- Big Dutch Business LLC, $2,291,000 for an existing optometrist office in Waukee.
- Goering Properties LLC, $991,000 for an existing animal slaughtering business in Milo.
- BL Holding Co. LLC, $935,000 for an existing dental office in Grimes.
- Cornerstone Dental Group, $775,700 for an existing dental office in Polk City.
- Steak n Shake Iowa LLC, $750,000 for a new restaurant business in West Des Moines.
Statewide, the SBA backed 30 loans for $16,594,400 last month to Iowa businesses from participating lenders using its two largest lending programs. The SBA 7(a) and 504 programs capitalized 18 new and 12 existing businesses, which reported creating 111 new jobs and retaining 294 jobs as a result.
The Iowa SBA office resumed issuing monthly SBA reports earlier this month. The reports had been on hiatus since March until the agency could separate loan amounts for the Paycheck Protection Program, which Congress created this year through the CARES Act to provide emergency relief. The loan tallies in the reports exclude all PPP loans.
Past SBA-backed loan amounts and recipients for Central Iowa have now been updated in the Business Record’s database. All 2020 Central Iowa loans through Nov. 30 are now available to view.
See the complete listing of Central Iowa SBA loans (Insider).