A beauty salon in Clinton, Iowa, and the Grape Life Wine Lounge and Cellar in Davenport were among the 22 businesses that were awarded nearly $18 million in U.S. Small Business Administration (SBA) loans in Iowa in November.
The SBA 7(a) and 504 program are the agency’s two-largest loan programs. They capitalized nine new and 13 existing businesses last month. Those loans will create 140 new jobs and retained 102 jobs as a result, the SBA Iowa District announced.
They included the EXO Skin Spa & Hair Studio at 516 S. Second St. Clinton. The existing salon was awarded a $14,000 loan to retain one job.
The Grape Life Wine Lounge and Cellar at 3402 Elmore Ave., Davenport, was awarded a $137,500 loan. They will support two jobs at the business which celebrated its Grape Life Welcoming Event on Saturday, Nov. 1.
The U.S SBA is the only go-to resource and voice for small businesses backed by the federal government.
It empowers entrepreneurs and small business owners with the resources and support needed 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.
