SBA approves $7.8M in Iowa small business loans in October

U.S. Small Business Administration (SBA) loans

The U.S. Small Business Administration backed 21 loans for $7,842,700 to Iowa businesses in October, including three in the Corridor.

Area businesses receiving loan approvals in October included:

  • KO Properties LLC , Cedar Rapids, $349,000
  • Maivis Holdings Inc., Cedar Rapids, $597,000
  • Cannonball Leasing Company LLC, Marion, $219,000

Corridor loan approvals totaled $1,165,000 in October. Corridor businesses reported retaining 28 jobs and creating 12 as a result. Statewide, the SBA 7(a) and 504 programs capitalized 10 new and 11 existing businesses that report creating 78 new jobs and retaining 61 jobs as a result.