The U.S. Small Business Administration OK’d 45 loans in April totaling $22,418,300 for Iowa businesses, including more than $1.9 million to help Adcraft Custom Apparel and Merchandise to build its nearly $5 million, 36,000-square-foot facility in Clinton.
In all, businesses in Scott, Muscatine and Clinton counties were granted nearly a total of $2.7 million in loans from SBA participating lenders last month. The loans are through its two largest lending programs, the Iowa District office of the SBA reported Friday, May 2.
The SBA 7(a) and 504 programs capitalized 21 new and 24 existing businesses that report creating 110 new jobs. They also retained 260 jobs as a result. Below is a county-by-county listing of the Iowa Quad Cities metropolitan area businesses, loans approved and jobs impacted, according to the Iowa SBA report
Clinton County
- Adcraft Printwear Co., Clinton; $1,934,000; 25 jobs created and 34 jobs retained for this existing business.
Muscatine County
- Cottrell, LLC, Muscatine, $391,700 to retain five jobs at a new general automotive repair business.air
- Corner Taken Quickly LLC, Muscatine; $100,000; one new job created for this Cable Networks business.
Scott County
- LiveWell Chiropractic and Well, Bettendorf; $256,000; to retain five jobs at this new chiropractic office that lists eight employees.
- JTSEO LLC, Davenport; $10,000; to create one job and retain one at this existing marketing consulting services business.
The U.S. Small Business Administration is the only go-to resource and voice for small businesses backed by the strength of the federal government.
The SBA 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. 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.
