(Washington, D.C.)– Two northwest Iowa businesses have been awarded funding through the U.S. Department of Agriculture Rural Development’s Business and Industry Guaranteed Loan Program, funded through the American Recovery and Investment Act of 2009.
Northern Iowa Diescasting in Lake Park was guaranteed a loan of slightly more than 1.4 million dollars that officials say will save an estimated 82 jobs. The company manufactures parts for a number of agricultural, commercial and recreational equipment manufacturers.
Schoon Construction of Cherokee will get a loan of slightly more than 3.3 million dollars to be used toward future growth. COmpany officials say it will allow them to save about 61 jobs. THe company does trenching work and installs utility and fiber optics lines along with farm tile, trucking and warehousing.
