A trio of Iowa Quad Cities projects were awarded a total of more than $2.2 million in U.S. Small Business Administration loans last month, the Iowa SBA district office reported recently.
Those projects were among 29 loans totaling $14,072,500 that were awarded to Iowa businesses from participating lenders using the SBA’s two largest lending programs in July.
In all, the SBA’s 7(a) and 504 programs capitalized 14 new and 15 existing businesses. Those businesses report creating 73 new jobs and retaining 111 jobs as a result.
The loans approved in July by the SBA for the Iowa Quad Cities region were:
Clinton County
- Murphy Court LLC, DeWitt, Iowa, $1,248,000, to create 18 jobs for this promoter of performing arts, sports, and similar events with facilities.
Scott County
- Akshay Patel Corporation, Davenport, $833,000 to create two jobs and retain seven existing ones at an existing hotel or motel business.
- Midwest Iron Addicts, LLC, Walcott, $150,000 to create two jobs at an existing fitness and recreational sports center business.
