The U.S. Small Business Administration (SBA) has released its monthly loan approval figures in Iowa for the month of March 2023, including several loans to Johnson and Linn county businesses.
Businesses receiving loans from the SBA in March include:
- South 12 Co., a youth sports park in Coralville, received two loans totaling $350,000, creating 12 jobs and retaining 13 existing jobs.
- Jacob Dyson, owner of JD Health and Performance in North Liberty, received a loan for $50,000, creating one job and retaining one existing job.
- Perfect Game Group in Cedar Rapids received a loan for $850,000, creating five jobs and retaining 150 existing jobs.
- WaxLife, a new business in Cedar Rapids received a loan for $257,700, creating one job and retaining eight existing jobs;
- Coffee Emporium in Cedar Rapids received a loan for $130,500, creating three jobs; and
- Zuck Aesthetics of Marion, a new beauty and personal care business, received a loan for $15,000.
In total, the SBA backed 50 loans for $20,247,400 to Iowa businesses from participating lenders using its two largest lending programs, the SBA 7(a) and 504 programs, capitalizing 31 new and 19 existing businesses that report creating 220 new jobs and retaining 481 jobs as a result.
In February, three Corridor businesses received a total of $4.774 million in SBA loans.
