GROW IOWA FOUNDATION BUSINESS LOANS

A $100,000 loan in 1996 to a former employee of an equipment manufacturing business to buy it from a local bank after the business was forced to close. Since then the business has expanded several times including an additional $46,000 Grow Iowa loan in 2000 to add another company to their line. Because of the business expansion, the number of employees has steadily expanded from two to 32 and sales have more than tripled.

A $150,000 loan in 2004 to locate a large value-added agriculture processing facility in the region. Grow Iowa's loan was a slice of the much larger financing needed to open the plant. There are now over 200 employees of the facility with an average hourly wage of $12.

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