SBA approves $23.3 million in Iowa loans in January

Iowa small business loans

The U.S. Small Business Administration backed 44 loans for $23,386,200 to Iowa businesses in January, including 10 in the Corridor. 

Area businesses receiving loan approvals in January included:

  • Off Campus Auto Repair LLC, Coralville, $495,600
  • BFXBDX LLC, Iowa City, $350,000
  • Asian Market LLC, Iowa City $10,000
  • Archie’s Rent-a-Ride LLC, North Liberty, $682,000
  • Scooters Holdings LLC, North Liberty, $416,000
  • Raining Rose Properties LLC, Cedar Rapids, $$2,508,000
  • Ishan Hospitality LLC, Cedar Rapids, $895 000
  • Community Law Office PLLC, Cedar Rapids, $150,000
  • Michelle Lynne LLC, Hiawatha, $731,000
  • Shaggy Dog Mobile Spa LLC, Springville, $94,500 

Corridor loan approvals totaled $6,331,500 in January. Corridor businesses reported retaining 19 jobs and creating 330 as a result. 

Statewide, the SBA 7(a) and 504 programs capitalized 28 new and 16 existing businesses that report creating 19 new jobs and retaining 474 jobs as a result.