"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
B & J HAULING & EXCAVATING, IN Monticello $1,055,900
BEAR CORP AND NICHOLAS BARRETT Clarion $150,000
BUTTERFACE, L.L.C. West Des Moines $112,500
CHRISTEL MANSON INSURANCE AGEN Waterloo $310,000
Davenport Furniture Co., L.L.C Davenport $25,000
DUCK CREEK TIRE & SERVICE, INC Bettendorf $465,800
FEIEREISEN, INC. Cedar Rapids $1,411,000
FIZZIX MANUFACTURING , LLC Ottumwa $250,000
FLUENT CHIROPRACTIC CLINIC, PC Sioux City $514,000
Frey Pet Hospital Cedar Rapids $883,000
GYM F/X, L.L.C. / LAKESIDE FIT Des Moines $240,000
HAMILL MOTOR COMPANY, INC. Sheldon $425,000
HANSON FITNESS INC. Mason City $165,000
Hillcrest Healthcare Services Hull $1,244,000
JURRENS, INC. George $220,000
LAKESIDE FITNESS AND TANNING L Pleasant Hill $1,362,500
Lambro Properties, LLC Cedar Rapids $600,000
LARLO HOLDINGS, LLC (EPC) AND Des Moines $1,666,300
LISA AND SCOTT PAGELER Lemars $430,000
MACHINE & PATTERN WORKS, INC. Princeton $191,700
MCGREGOR MARINA INC. McGregor $835,000
RON'S TOY BOX TOO, LLC Bettendorf $1,521,300
THE HUB LIVE LLC Cedar Falls $215,000
THE OAKS Cedar Falls $39,000
THE POWDER SHOP, INC Manchester $225,000
YOGI'S, INC. Monticello $1,360,000
Total: $15,917,000
