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SBA backs nearly $3M in Central Iowa loans


The U.S. Small Business Administration in January backed eight private loans for Central Iowa businesses for a total of just under $3 million. 

The $2.96 million in loans should help create 40 new jobs and keep 51, if the companies’ projections are accurate. That dollar amount was higher than in January 2017, when the SBA backed $2.3 million in loans expected to create 60 jobs.

Central Iowa is defined as Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties. 

The Central Iowa loans included $830,000 for A King’s Throne, a Des Moines septic tank business that reported it will retain 12 jobs. Little Tigers Holding Co. LLC borrowed $717,000 and expects to add 30 jobs at its child care operation. KVC Holdings LLC, a Knoxville veterinary services business, borrowed $461,400 and plans to retain six jobs. Dumplings DM LLC plans to add eight jobs after borrowing $350,000.

Statewide, the SBA backed 28 loans for a combined $8.4 million to Iowa businesses from participating lenders using its two largest lending programs. 

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

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