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|Harkin: 26 Iowa Small Businesses Receive Nearly $16 Million in Loans to Grow and Hire|
|News Releases - Business & Economy|
|Written by Sen. Tom Harkin|
|Monday, 11 October 2010 12:13|
WASHINGTON, D.C. – Senator Tom Harkin (D-IA) applauded the Small Business Administration for processing all of the loan applications in their queue and disbursing funds to 26 Iowa small businesses, just ten days after President Obama signed the Small Business Lending Fund Act into law. Iowa’s recipients received a total of $15,917,000 in loans to grow and hire.
“Today’s announcement means that 26 Iowa small businesses will be able to move our economy forward by continuing to expand and hire,” Senator Harkin said. “Our small businesses provide jobs, needed goods and services, and give Iowa the character that makes it a great place to live. They are the engines of our economic growth, and supporting them will help spur along our fragile recovery. Congratulations to the entrepreneurs who received these loans.”
The Small Business Lending Fund Act provides small businesses with access to capital, robust incentives for investment and support for innovation and entrepreneurship. The legislation provides some $12 billion in small business tax credits and will create as many as 500,000 jobs nationwide. It is also fully paid for, and will not add a dime to the federal deficit.
Similar to the HIRE Act and other job creating measures, the Small Business Lending bill was opposed by Senate Republicans who delayed its passage for months.
Below is a list of Iowa companies who received Small Business Administration loans:
BORROWER CITY TOTAL APPROVED LOAN AMOUNT
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