The U.S. Small Business Administration has released its monthly approval figures for loans in Iowa for the month of October 2024, and four Linn County companies received loans under the SBA program.
According to the SBA report, the Linn County companies receiving SBA loans in October are:
- Joan Locke Interpreting LLC of Cedar Rapids, which received $9,900, retaining two jobs and supporting two existing jobs.
- JJV Properties LLC of Marion, which received $1,024,000, creating one job and supporting 10 existing jobs.
- CV Capital LLC of Marion, which received $220,000, creating four jobs, retaining two jobs and supporting two existing jobs.
- B & K Appliance Services Inc. of Marion, which received $89,700, creating three jobs and supporting three existing jobs.
Overall, the SBA backed 39 loans for $12,240,900 to Iowa businesses from participating lenders using its two largest lending programs.
The SBA 7(a) and 504 programs capitalized 20 new and 19 existing businesses that report creating 89 new jobs and retaining 290 jobs as a result.
The SBA awarded loans to seven Corridor companies in September.
As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations.
