QC projects approved for more than $3.5M in SBA loans

Three Quad Cities companies were approved for loans of more than $3.5 million collectively are among 17 loans totaling $9.537 million awarded to Iowa businesses by participating lenders, the U.S. Small Business Administration recently announced.

The Quad Cities’ SBA monthly loan approval figures in Iowa for the month of October are:

  • HotBoyz Hospitality LLC, Clinton, 13 jobs retained, $1,990,000, new business hotels and motels.
  • THE B, L.L.C., Davenport, $155,000, 12 jobs created, Lessors of Nonresidential Buildings (except Miniwarehouses).  
  • PC5CB, LLC, LeClaire, $1,348,000, 10 jobs created, 14 existing jobs, drinking places.           

In all, the SBA and its 504 programs capitalized 13 new and four existing Iowa businesses that created 85 new jobs and retained 147 jobs, according to the SBA. 

Get the free QCBJ email newsletter

Stay up-to-date with the people, companies and issues that impact business in the  Quad Cities area.