The U.S. Small Business Administration has released its monthly approval figures for loans in Iowa for the month of May 2026, and five Cedar Rapids companies received loans under the program.
According to the SBA report, the Cedar Rapids companies receiving loans in May are as follows:
- Inwood Equity Corp., which received a loan of $990,000, creating seven new jobs and retaining seven existing jobs.
- NBT Enterprises LLC, which received a loan of $307,000, creating two new jobs.
- Rumble Inc., which received a loan of $149,000, creating one new job and retaining 15 existing jobs.
- Iowa Powerhouse LLC, which received a loan of $88,000, creating two new jobs and retaining two existing jobs.
- Diversified Builders LLC, which received a loan of $50,000, retaining one existing job.
Overall, the SBA backed 29 loans for $20,716,200 to Iowa businesses from participating lenders using its two largest lending programs.
The SBA’s 7(a) and 504 programs capitalized 12 new and 17 existing businesses, creating 54 new jobs and retaining 206 jobs as a result.
The United States Small Business Administration, founded in 1953, is an independent agency of the United States government that provides support to entrepreneurs and small businesses.
