SBA Backed $ 71.9 Million in Central Iowa Business Loans in 2021

The US Small Business Administration granted loans to 10 central Iowa businesses in December totaling more than $ 6.97 million.

For the entire 2021 calendar year, the SBA supported 142 loans to businesses in central Iowa for a total of $ 71,905,200, according to data released by the SBA and compiled for businesses in central Iowa by the Business Record.

This year-end figure closely matches the lending activity of two years ago, with 2019 figures of 146 loans totaling $ 71.7 million. By comparison, in 2020, SBA guaranteed loans in central Iowa topped $ 89 million, which is a 24% year-over-year increase from 2019.

The December 10 loans are expected to create 21 new jobs and maintain 32 jobs in central Iowa.

The largest loans by dollar amount in December for central Iowa were:

• Grand Prix Printing LLC, a new commercial printing house in Ankeny, $ 2,520,400.
• Purlin Corp., a new industrial machinery and equipment wholesaler in West Des Moines, $ 2,050,000.
• Central Prairie Radon LLC, a new testing lab business in Polk City, $ 768,000.

Statewide, the SBA has backed 37 loans worth $ 18.3 million to Iowa businesses from participating lenders using its two largest loan programs. SBA 7 (a) and 504 programs have capitalized 22 new businesses and 15 existing businesses that report creating 142 new jobsand keep 271 jobsTherefore.

See the full list of Central Iowa SBA (Insider) loans