SBA approves $17.2 million in Iowa small business loans in March

U.S. Small Business Administration (SBA) loans

The U.S. Small Business Administration backed 40 loans for $17,231,300 to Iowa businesses in March, including three in the Corridor.

Area businesses receiving loan approvals in March included:

  • James Avenue Sod Farms LLC , Tiffin, $210,000;    
  • Kellys K9 Mobile Grooming LLC, Cedar Rapids, $90,000; 
  • Eastvold Investments LLC, Cedar Rapids, $50,000; 
  • Center Point Auto Parts Inc., Center Point, $300,000 

Corridor loan approvals totaled $650,000 in March. Corridor businesses reported retaining nine jobs and creating 13 as a result. 

Statewide, the SBA 7(a) and 504 programs capitalized 24 new and 16 existing businesses that report creating 98 new jobs and retaining 259 jobs as a result.