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SBA backs more than $4M in Central Iowa loans in March


The U.S. Small Business Administration backed 13 loans to Central Iowa businesses totaling $4,075,900 in March.

The loans will help those small businesses create 54 new jobs and retain 84 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:

– KGAF LLC, an existing Ankeny business in the “office of other holding companies” category, for $1,128,000.
– Rrk Land LLC, for a new pet care business in West Des Moines, for $1,043,000.
– Cyco Holdings LLC, for a new limited services restaurant in Ames, for $643,900.

Compared with a year ago, both the number and dollar amount of SBA-backed loans approved for Central Iowa businesses were up last month. In March 2021, eight loans totaling less than $3.2 million were approved.

Statewide during March 2022, the SBA backed 40 loans for $17,231,300 to Iowa businesses from participating lenders using its two largest lending programs.

The SBA 7(a) and 504 programs capitalized 24 new and 16 existing businesses that report creating 98 new jobs and retaining 259 jobs as a result.

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

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