A trio of loans valued at nearly $1.3 million were awarded in January to five Scott County businesses by the U.S. Small Business Administration (SBA), according to the latest news release from SBA’s Iowa District office.
In all, last month the U.S. SBA backed 39 loans valued at $27,921,400 to Iowa businesses from participating lenders using its two largest lending programs. The SBA 7(a) and 504 programs capitalized 17 new and 22 existing businesses. They reported creating 143 new jobs and retaining 415 jobs as a result.
SBA loans approved for Scott County businesses totalling $1,288,700 included:
- Smash Pizzeria and Bakery, Bettendorf – $510,000 to create 22 new jobs at this full-service restaurant.
- Accrete Care LLC, Davenport –$628,700 to create 40 new ones at this new business providing services for the Elderly and Persons with Disabilities
- Quint Cities Restoration, Inc., Davenport – $150,000 to retain four jobs at this single-family housing construction business.
The 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.
It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations.
