The U.S. Small Business Administration (SBA) has released its monthly loan approval figures in Iowa for the month of April, including seven loans to businesses in Cedar, Clinton, Muscatine and Scott counties.
Area businesses receiving loans from the SBA last month include:
- CJ Big Lanes in Camanche; the bowling center received a $180,000 loan, retaining eight jobs.
- JBN Holdings LLC in Davenport; the lumber, plywood, millwork and wood panel merchant wholesaler received an $800,000 loan, creating four jobs and retaining five jobs.
- Let it Bee LLC in Muscatine; the executive search services business received a $99,000 loan, creating five new jobs.
- Midwest Fabrication and Welding, in Tipton, received a $229,000 loan, retaining eight jobs.
- QC McSkinner LLC in Bettendorf; the new baked goods store received a $175,000 loan, creating 25 jobs and retaining two jobs.
- River Valley Management LLC in Clinton; the specialty trade contractor received a $247,500 loan.
- Spencer A. Melvin LLC in Clinton; the auto repair business received a $50,000 loan, retaining seven jobs.
In April, the SBA backed a total of 25 loans for $5,791,700 to Iowa businesses from participating lenders using its two largest lending programs: the SBA 7(a) and 504 programs. This capitalized 18 new and seven existing businesses that report creating 136 new jobs and retaining 118 jobs, according to the SBA news release.
