Monday, July 7, 2008
Governor Culver Announces Three Targeted Small Business Awards
DES MOINES, IA –Today, Governor Chet Culver announced three new Targeted Small Business (TSB) loans for business owners in Cedar Rapids, Central City and Dubuque to open and expand their operations.
“I am honored to announce that three more outstanding Iowa businesses will receive funding through the Targeted Small Business Program,” said Governor Chet Culver. “It is important to give every Iowan the tools and resources they need to reach their fullest potential, and this program helps us do just that. The Targeted Small Business program is another example of state government helping individuals -- especially women, persons with disabilities and minorities -- excel in business. And with their help, we are building a brighter future for themselves and their communities.”
- Elizabeth Smith, owner of All Good Things Therapeutic Massage in Cedar Rapids, was awarded a $9,000 loan with a four percent interest rate to be paid back over a five year period.
- Alice Evans and Cheryl Smith, owners of My Personal Chef d/b/a Garnish That Food in Cedar Rapids and Central City, were awarded a $16,000 loan with a four percent interest rate to be paid back over a five year period.
- Doris Kay Gorius, owner of Cookin Something Up in Dubuque, was awarded a $50,000 loan with a four percent interest rate to be paid back over a five year period.
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.