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In this issue
Don't forget these dates! October 31 November 4 November 11 November 13 November 14 November 14 November 17 Nov. 20-21 December 3-5 Pass it on Know anyone who might be interested in our newsletter? Click here to forward this email to up to 5 friends at once.
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Revolving microloan fund ready for use A revolving microloan fund for Iowa was announced earlier this month by the U.S. Small Business Administration. The nonprofit Iowa Foundation for Microenterprise and Community Vitality (IFMCV) will assist small entrepreneurs in starting, expanding or refinancing their businesses. The program's goal is to provide funding for microenterprises that don't qualify for conventional financing, says Craig Downs, IFMCV's loan administrator. Within four to six years, the program should graduate the borrowers to local commercial lenders as their "riskiness" declines. IFMCV will make loans of $5,000 to $35,000 to businesses with fewer than 5 employees. To qualify for the program, a business must have a reasonable business plan and a turn-down letter from a commercial lender. IFMCV plans to work with local nonprofit organizations to identify potential clients. The local affiliate will also provide or direct technical assistance to the entrepreneurial business, manage the loan closing, and monitor adjustments in the business plan. IFMCV plans to coordinate its microlending efforts with an Iowa Department of Economic Development program that received $475,000 in funding earlier this year from the Legislature. That program calls for funding two metro-area and three non-metro-area microenterprise organizations. "We're awfully excited to get this off the ground," says Mark Edelman, president of the 15-member IFMCV board. Edelman expects the board will begin approving microenterprise loan requests in early November. Craig Downs can be contacted by phone, 515.212.0182, if you'd like to talk about details of getting a microloan or becoming a local affiliate. Organic processor in Cherokee snags award 
A Cherokee company, American Natural Soy, is the October Renew Rural Iowa Entrepreneur of the Month. The processor of organic oilseeds was founded eight years ago by farmers, Mark and Julie Schuett. A 15-minute podcast explains how the Schuetts grew the business from 8 employees to the 24 they have today. Cosmetic giant Estee Lauder is one important factor that led to the growth of the company. “Estee Lauder was looking for organic soy lecithin for its Origins Organics body lotion and facial moisturizer line. With the addition of that client and many more, American Natural Soy is now the world’s largest manufacturer of organic soy lecithin, a chemical-free, natural emulsifier used for both food and cosmetic products,” said Mark Schuett, American Natural Soy co-founder and president. Organic soybeans, canola, sunflower, safflower, and flax seeds are taken from raw product to packaged product at American Natural Soy. The processor is growing to meet consumer demand for organic products, having just invested in a significant organic oil refining expansion that doubled its capacity. That economic activity has meant many positive things to Cherokee, according to local citizens featured in a 12-minute podcast. “This company is a great role model for rural entrepreneurs who have a great idea, but need help to get past those first hurdles and grow their business into something that’s not only profitable for the founders, but helps the entire community,” says Sandy Ehrig, the Iowa Farm Bureau’s economic development administrator. American Natural Soy worked with Farm Bureau’s Renew Rural Iowa program for assistance in the capital investment and expansion planning. Two teachers noted for their efforts Two Iowa teachers were honored this month for dedication to their work. Deana Colbert, an Alternative Program teacher at English Valley Community School, and 4th grade Sioux City teacher Linda Heffner, each got an extra-special pat on the back. Colbert is the 2008 Excellence in Education Award winner. That award is sponsored by the Iowa State Education Association and the Iowa Farm Bureau Federation. Heffner received the Iowa Teacher of the Year Award. She teaches at Everett Elementary. Her award is sponsored by the Iowa Department of Education and Qwest Communications. “Iowa Farm Bureau members believe education is the cornerstone of success and good teachers are the builders of that foundation. We are happy to be a part of honoring the excellence, hard work and dedication of a teacher who stands as a role model for students as well as their communities,” said Craig Lang, president of the Iowa Farm Bureau Federation. Harvesting Resources for Iowa communities The Iowa Rural Development Council is hosting two resource tradeshows in the next few weeks. “Harvesting Resources for Iowa Communities” will highlight state, federal and local resources that offer community assistance information. Plans are being made to hold the trade shows in two additional regions of the state in early 2009. Iowa travel industry sees growth 
At the just-completed Iowa Tourism Conference, manager Nancy Landess announced that tourism’s economic impact in the state during 2007 was $6.3 billion—up 7.6% from the year before. The increase in dollars spent by tourists in the state resulted in a 2.2% increase in tourism-related jobs (jobs that generated $1.1 billion in payroll income). And, travel spending in the state created $307.2 million in tax revenue, an increase of 5.6%. Twelve counties received more than $100 million in domestic travel expenditures. In those counties one thousand or more jobs were directly supported by domestic travel expenditures. In all, 97 of Iowa’s 99 counties increased their tourism-generated expenditures. "The agritourism industry continues its efforts to organize and attract more people to that segment of the travel marketplace," says Dal Grooms, Iowa Farm Bureau's business information administrator. The Agritourism Working Group is planning a conference in March 2009. |
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