The U.S. Small Business Administration backed 31 loans for $11,143,000 to Iowa businesses in November, including five in the Corridor.
Area businesses receiving loan approvals in November included:
- Barrel House Downtown Cedar Rapids LLC, Cedar Rapids, $296,200
- BDA LLC, Cedar Rapids, $100,00
- Midwest Steel Erectors LLC, Marion, $30,000
- Shanahan Empire LLC, Iowa City, $50,000
- Rieck Enterprises LLC, North Liberty, $758,500
Corridor loan approvals totaled $1,234,700 in November. Corridor businesses reported retaining six jobs and creating 87 as a result.
Statewide, the SBA 7(a) and 504 programs capitalized 17 new and 14 existing businesses that report creating 173 new jobs and retaining 88 jobs as a result.