SBA approves $14.7 million in Iowa small business loans in August

The U.S. Small Business Administration backed 27 loans for $14,796,200 to Iowa businesses in August, including one in the Corridor.

Area businesses receiving loan approvals in August included:

• The Powder Shop Inc., Cedar Rapids, $3,5,00,000    

Corridor businesses reported retaining 30 jobs and creating 10 as a result. Statewide, the SBA 7(a) and 504 programs capitalized 13 new and 14 existing businesses that report creating 144 new jobs and retaining 219 jobs as a result.