Two Quad Cities businesses were among the 29 Iowa companies in May whose loans were backed by the U.S. Small Business Administration, the Iowa District of the SBA announced.
The SBA monthly loan report indicated that the SBA approved a total of $20.7 million in loans during the month from participating lenders using the SBA’s two largest lending programs.
The Iowa District of the SBA approved loans for these businesses in the Quad Cities region:
- Scott County – Huff Logistics Group in Eldridge, a $2,502,500 loan. The new general freight trucking business will provide long distance, truckload delivery. No information about job creation was included.
- Muscatine County – DJAAGOU A. Export LLC, $50,000 loan. The loan will help the grocery merchant wholesaler retain two jobs. The international trade company was established in 2017 and is located in Muscatine, Iowa, and Lome, Togo, West Africa.
In May, the SBA 7(a) and 504 programs capitalized 12 new and 17 existing businesses that reported creating 54 new jobs and retaining 206 jobs as a result.
Founded in 1953, the SBA is an independent agency of the United States government that provides support to entrepreneurs and small businesses.
