SBA backs eight Central Iowa loans in September
The U.S. Small Business Administration backed eight private loans to Central Iowa businesses in September.
The loans for a combined $2.2 million were for projects expected to create seven jobs and retain 29.
None of the Central Iowa loans were for more than $1 million. The highest was $418,400 for AL ADL LLC, a new home health care services company in West Des Moines expected to add two jobs. Hickman Storage LLC of Des Moines borrowed $387,000 and planned to add three jobs. Garth Robinson and Kristen Robinson took out a $340,000 loan for a veterinary services firm in Roland and planned to retain six jobs. Summit Drilling LLC of Urbandale, a construction firm, borrowed $325,000 and expected to retain eight jobs without adding any.
The number of loans was less than half the 20 the SBA backed in September last year, when $7.7 million was involved and 108 jobs were to be added.
The Central Iowa data include Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties.
Statewide last month, the SBA backed 29 loans for $9.3 million for projects expected to create 56 new jobs and retaining 80 jobs as a result.
See the complete listing of Central Iowa SBA loans. (Insider)