Monday, January 28, 2008
Governor Culver Announces Five Targeted Small Business Awards
Start-up Loans to Help Entrepreneurs with Disabilities, Women and Minorities in Clinton, Des Moines, Johnston, Lake Park and Urbandale to Open and Expand Small Businesses
(Des Moines) Today, Governor Chet Culver announced five new Targeted Small Business (TSB) loans for businesses majority-owned by a woman, a minority or an entrepreneur with a disability in Urbandale, Johnston, Clinton, Lake Park and Des Moines to open and expand operations.
“To move our state forward, we must make Iowa a state where everyone, regardless of race, gender or ability has the opportunity to turn their ideas into reality and reach their full potential,” said Governor Culver. "This important program makes it easier for entrepreneurs with disabilities, women and minorities to start businesses and create new financial opportunities for themselves and others. These businesses will create new jobs, promote diversity across our state and make our economy stronger.”
Hezekhia Jackson, owner of When Pigs Fly in Urbandale, was awarded a $22,000 loan with an interest rate of four percent over a five year period to purchase a delivery van for catering and equipment to keep food warm while transporting from one location to another.
Emily Starr, owner of StarrMatica Systems, LLC in Clinton, was awarded a $50,000 loan with an interest rate of five percent over a five year period to, produce interactive online math and reading sources for elementary and middle schools.
Melinda Hardin, owner of the Blue Moon Coffee Café & Bakery in Lake Park, was awarded a $50,000 loan with an interest rate of four percent over a five year period to purchase inventory, equipment and supplies.
Norma Ortegon-Montero, owner of Yummy Churros in Johnston, was awarded a $45,000 loan with an interest rate of four percent over a five year period to purchase a mobile food trailer and equipment to sell Mexican food specialties at various events held in Des Moines and the surrounding area.
Liajdub Vang, owner of the Capital City Redemption Center in Des Moines, was awarded a $50,000 loan with an interest rate of five percent over a five year period to purchase equipment for a new can redemption center. The business will be located on the East Side of Des Moines in the Guthrie Avenue Business Park.
Last year, Governor Culver signed into law HF 890, which provided an additional $4 million to Iowa’s TSB, a program operated by the Iowa Department of Economic Development to make it easier for women, minorities and entrepreneurs with disabilities to start or expand a business in Iowa.
To qualify for assistance, the businesses must:
- Operate for a profit
- Have annual gross sales of less than $4 million
- Be at least 51 percent owned, operated and managed by a woman, minority or person with a disability
- Be certified as a "Targeted Small Business" by the Iowa Department of Inspections and Appeals
For more information on the TSB program, visit: http://www.iowalifechanging.com/business/tsb.html.