SBA approves $24 million in Iowa loans in July

Iowa small business loans

The U.S. Small Business Administration backed 49 loans for $24,096,200 to Iowa businesses in July, including nine in the Corridor.

Area businesses receiving loan approvals in July included: 

  • Morsel Llc, Amana, $225,000 
  • S B Uthoff, Llc, Amana, $384,000
  • Iowa City Service & Tire Llc, Iowa City, $100,000
  • Coffee Emporium Llc, Cedar Rapids, $57,000
  • Double Headed Eagle Llc, Cedar Rapids, $67,500 
  • Liquid Assets, Inc., Cedar Rapids, $171,000
  • Linncojoco Cookie Inc., Cedar Rapids, $350,000
  • Sky Auto Mall, Center Point, $3,260,000
  • Eric P Krob Revocable Trust, Lisbon, $409,000

Corridor loan approvals totaled $5,023,500 in July. Corridor businesses reported retaining 104 jobs and creating 62 as a result.

Statewide, the SBA 7(a) and 504 programs capitalized 14 new and 35 existing businesses that report creating 202 new jobs and retaining 296 jobs as a result.