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Linn County Getting Bulk of SBA Loans

By Dave Franzman, Reporter

By Dave Franzman

Story Created: Jul 25, 2008 at 4:57 PM CST

Story Updated: Jul 25, 2008 at 4:57 PM CST

CEDAR RAPIDS- Linn County leads the state when it comes to disaster recovery loans from the federal Small Business Administration.

To date, the SBA has approved 788 loan applications from home owners in Linn County impacted by flooding. The total dollar amount of help for residential units in the county now totals just under $51-million dollars.

The agency has also approved nearly $17-million dollars in low interest loans to 172 businesses. One non profit group also submitted an application and received $559,000 in assistance.

Alex Contreras, an SBA communication specialist, said "over $135.6-million total has been approved for the state of Iowa and close to 50 percent of that has gone to Linn County alone."

September 29th is the deadline for applying for an SBA disaster loan in Iowa.

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