SBA backs nearly $5M in Central Iowa loans
A storage unit project in Des Moines drew one of the largest loans backed by the U.S. Small Business Administration in Central Iowa last month.
Geier & Geier Inc. borrowed $3.4 million for a project expected to create two jobs.
The SBA backed seven private loans in Central Iowa, which includes Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall. The combined $4.9 million in loans was for projects expected to create 65 jobs and retain 154.
NPAAV LLC of Norwalk borrowed $984,000 for a child care development with 35 jobs. Inteliroute Technologies LLC of Urbandale, a custom computer programming firm, plans to add 50 jobs and retain 142.
Statewide, the SBA backed 22 loans for $8,958,800 to businesses from participating lenders using its two largest lending programs. It backed loans for 13 new and 9 existing businesses creating 116 new jobs and retaining 246 jobs.
See the complete listing of Central Iowa SBA loans. (Insider)