
The U.S. Small Business Administration (SBA) has released its monthly loan approval figures in Iowa for the month of January 2025, including loans to several businesses in the Corridor.
Businesses receiving loan approvals from the SBA in January include:
- Casey J. Dreyer of Coralville, who was approved for a loan of $250,000, creating three new jobs and retaining one existing job.
- RNA Construction, Inc. of Tiffin, which was approved for a loan of $20,000, retaining one existing job.
- Everyman of Cedar Rapids, which was approved for a loan of $500,000, retaining two existing jobs.
- LEP Logistics of Cedar Rapids, which was approved for a loan of $535,000, retaining 24 existing jobs.
In total, the SBA backed 43 loans for $14,901,000 to Iowa businesses from participating lenders using its two largest lending programs, the SBA 7(a) and 504 programs, capitalizing 22 new and 21 existing businesses that report creating 189 new jobs and retaining 164 jobs as a result.
In December, the SBA reported it had issued $195.9 million in Iowa loan approvals for the 2024 fiscal year.
The Small Business Administration helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships, the Small Business Administration assists and protects the interests of small business concerns.