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SBA backs nearly $7M in 14 loans to Central Iowa businesses


The U.S. Small Business Administration backed 14 loans to Central Iowa businesses totaling $6,950,800 in May.

The loans will help those small businesses create 292 new jobs and retain 36 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:

  • Fox Ridge Farm Inc., for an existing apple orchard in Cumming, for $1,812,000. (Fox Ridge Farm also had two other SBA-backed loans in May, for $677,600 and $500,000.)
  • Prime Pest Control of Nevada Inc., for a new exterminating and pest control service in Urbandale, for $1,201,000.
  • T&K Ventures II LLC, for a new full-service restaurant in Ankeny, for $760,000.

Statewide in May, the SBA backed 41 loans for $22,463,900 to Iowa businesses from participating lenders using its two largest lending programs.

The SBA 7(a) and 504 programs capitalized 22 new and 19 existing businesses that reported creating 401 new jobs and retaining 211 jobs as a result.

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

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