The U.S. Small Business Administration (SBA) has released its monthly loan approval figures in Iowa for the month of January 2024, including several loans to Johnson, LInn and Cedar county businesses.
Businesses receiving grants from the SBA in January include:
- La Unica Grocery and Restaurant in Iowa City, a new business that received a $190,000 loan, creating five new jobs;
- All Seasons Automotive in North Liberty, a new auto repair business that received a $300,000 loan, creating five new jobs and retaining one existing job;
- Lakin Holdings in Cedar Rapids, a new carpentry contractor business that received a $150,000 loan, creating four new jobs and retaining one existing job;
- Plaza Auto Auction in Mount Vernon, a new auto wholesaler that received two loans totaling $1.219 million, retaining 40 existing jobs; and
- Heartland Plumbing in West Branch, a new plumbing, heating and air conditioning contractor that received two loans totaling $94,000, creating one job and retaining three existing jobs.
In total, the SBA backed 37 loans for $11,582,400 to Iowa businesses in January from participating lenders using its two largest lending programs, the SBA 7(a) and 504 programs, capitalizing 24 new and 13 existing businesses that report creating 179 new jobs and retaining 209 jobs as a result.
In December 2023, seven Corridor businesses received a total of $6.284 million in SBA loans, capitalized 25 new and 18 existing businesses that report creating 111 new jobs and retaining 247 jobs as a result. Statewide, the SBA backed 43 loans for $16,350,600 to Iowa businesses.
