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.