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SBA loan programs assist 21 Central Iowa businesses in April


Nearly half of the 45 loans in Iowa backed by the U.S. Small Business Administration in April went to Central Iowa companies, according to SBA data.

The federal agency last month 
backed 21 loans totaling $11,434,300 to businesses in Polk, Story, Boone, Dallas, Madison, Warren, Marion, Jasper and Marshall counties.

Those 21 loans are expected to create 105 new jobs and retain an additional 161 jobs in Central Iowa. Among the largest Central Iowa loans in April by dollar amount were:

  • Hawkeye Molding Co., an existing manufacturing business in Roland, for $3,912,300.
  • Summertime Farms LLC, an existing wholesale trade business in Carlisle, for $1,762,000.
  • Barkley Group LLC, an existing construction company in West Des Moines, for $1,617,000.

Across across Iowa in April, the SBA backed 45 loans for $25,550,700 to businesses from participating lenders using its two largest lending programs. That loan tally does not include Paycheck Protection Program loans.

The SBA 7(a) and 504 programs capitalized 20 new and 25 existing businesses that report creating 178 new jobs and retaining 318 jobs as a result.

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

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