SBA approves $22.5 million in Iowa small business loans in May

The U.S. Small Business Administration backed 41 loans for $22,463,900 to Iowa businesses in May, including five in the Corridor

Area businesses receiving loan approvals in May included:

• Ishika Hospitality, Inc., North Liberty, $1,055,000;    
• Luke & Sarah Home Improvements LLC, Solon, $150,000; 
• El Bajio 2, Inc., Cedar Rapids, $6000,000;
• e4o6 Inc,  Marion, $1,170,000
• SalesGiant, LLC, Riverside, $114,000    

Corridor loan approvals totaled $3,089,000 in April. Corridor businesses reported retaining 24 jobs and creating 32 as a result. 

Statewide, the SBA 7(a) and 504 programs capitalized 22 new and 19 existing businesses that report creating 401 new jobs and retaining 211 jobs as a result.