The U.S. Small Business Administration has released its monthly approval figures for loans in Iowa for the month of October 2023, and three Corridor companies received loans under the program.
According to the SBA report, local companies receiving loans in October are:
- Arasma, LLC, of Independence, received $85,000, creating one new job.
- Saltyco LLC, of Coralville, received $457,500, creating 20 new jobs.
- Rapid Owl Towing LLC, of Cedar Rapids, received $18,600, retaining one job.
Overall, the SBA backed 17 loans for $9,537,600 to Iowa businesses from participating lenders using its two largest lending programs.
The SBA 7(a) and 504 programs capitalized 13 new and four existing businesses that report creating 85 new jobs and retaining 147 jobs as a result.
