SBA approves $25.5 million in Iowa small business loans in July

Iowe SBA Small Business Administration awards

The U.S. Small Business Administration backed 35 loans for $25,508,800 to Iowa businesses in July, including three in the Corridor.

Area businesses receiving loan approvals in July included:

  • Mustang Shading Systems LLC, Mount Vernon, $2,013,600
  • Iowa City Wine LLC, Coralville, $262,000
  • Coffee Emporium LLC, Cedar Rapids, $85,000    

Corridor loan approvals totaled $2,360,600 in July. Corridor businesses reported retaining 22 jobs and creating eight as a result. 

Statewide, the SBA 7(a) and 504 programs capitalized 23 new and 12 existing businesses that report creating 89 new jobs and retaining 338 jobs as a result.