SBA approves $21.2M in Iowa small business loans in September

Small Business Administration

The U.S. Small Business Administration backed 35 loans for $21,226,900 to Iowa businesses in September, including six in the Corridor.

Area businesses receiving loan approvals in September included:

  • Weldon Contractors LLC, Iowa City,$3,035,000
  • Bean Drip Services LLC, Mount Vernon, $1,301,000       
  • A-1 Rental Inc., Cedar Rapids, $350,000
  • WaxLife Cedar Rapids LLC, Cedar Rapids, $267,400
  • C&A LLC, Cedar Rapids, $160,000
  • Corridor Transmission Inc., Cedar Rapids, $100,000

Corridor loan approvals totaled $5,222,400 in September. Corridor businesses reported retaining 20 jobs and creating 38 as a result. Statewide, the SBA 7(a) and 504 programs capitalized 20 new and 15 existing businesses that report creating 135 new jobs and retaining 176 jobs as a result.