More than $4.3 million in U.S. Small Business Administration loans were awarded in March to seven businesses in Scott and Muscatine counties. They were among $27.2 million in awards OK’d Iowa-wide last month through the SBA’s two largest lending funds.
In all, 56 loans across Iowa were approved, according to March approval figures provided recently by the SBA’s Iowa office.
The SBA 7(a) and 504 programs also capitalized 26 new and 30 existing businesses that report creating 131 new jobs and retaining 323 jobs as a result. Read a complete listing of March loan approvals here.
Some of the details provided by the Iowa SBA office for March loans in the Quad Cities region are:
Muscatine County
- Sportours, LLC, $2,365,200 for a Muscatine tour operator business expected to create one job and retain five.
- NextGen Motors of Muscatine, LLC, $951,000 for an existing used car dealership, expected to create three jobs at this business which employs 19.
- C7 Clarks, LLC, $391,700 for a Muscatine general automotive repair business expected to retain five jobs.
- Geiman Company, LLC, Muscatine, $74,000 to support two jobs.
- Wilton’s Hometown Market, Inc., Wilton, $187,000 to create three jobs and retain 14 at this grocery store.
Scott County
- Precision Builders, Inc., Bettendorf, $250,000 to retain 15 existing jobs at this industrial building construction business.
- Quint Cities Restoration, Inc., Davenport, $150,000 to create three jobs and retain six at this residential remodeling business.
The U.S. SBA is the only go-to resource and voice for small businesses backed by the strength of the federal government. It empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster.Â
It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
