The U.S. Small Business Administration (SBA) has released its monthly loan approval figures in Iowa for the month of December 2022, indicating that three Corridor businesses received loans from the program.
According to the report, the SBA backed 31 loans for $14,939,700 to Iowa businesses in December from participating lenders using its two largest lending programs, the SBA 7(a) and 504 programs.
December loan recipients in the Corridor include Quick Shine Express 2 of Iowa City, which received a loan for $1.609 million, creating 13 new jobs; Genesis Chiropractic & Wellness of Marion, which received a loan of $100,000, creating two new jobs; and HER Beauty Salon of Marion, which received a loan of $80,000, creating eight new jobs and retaining two existing jobs.
The loans capitalized 19 new and 12 existing businesses in Iowa, creating 134 new jobs and retaining 150 jobs as a result.
In November, the SBA backed 31 loans for $11,143,000 to Iowa businesses, including five in the Corridor.