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SBA backs $71.7M Central Iowa loans in 2019


The U.S. Small Business Administration in 2019 guaranteed 146 private loans for a combined $71.7 million for Central Iowa projects. The amount is a steep increase from the $42.7 million for Central Iowa projects in 2018. 

The SBA backed 13 of those 2019 loans in December, for a total of $6.1 million. The December projects are expected to create 97 jobs and retain 88.

Two businesses borrowed $1 million or more in December. CBE Midway Inc. of Ames borrowed $1.3 million and is expected to retain 35 jobs. Mega St Kilda LLC of West Des Moines borrowed $1 million and is expected to create 30 jobs. 

Statewide in December, the SBA backed 36 loans for $22.7 million.

The 2019 projects are expected to create 919 jobs and retain 980. Central Iowa is defined as Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties. 

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

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