Small Business Loan Client Success
Gerald Young, a disabled veteran, was returning from a deployment to Afghanistan when he received a popular family BBQ recipe from his father. The recipe is gluten free, low sodium, no high fructose corn syrup, and is made in the USA. It is perfect for those with celiac disease, diabetes, high blood pressure or families wanting to live a healthier lifestyle. His sauce is flying off the shelves in stores such as Hy Vee, Fareway, Whole Foods and several other grocery chains in the Midwest. Recently Mr. Young traveled to China to research additional ways to grow his business, including meeting with Ambassador Terry Branstad.
Hard work, determination and a little nudge from the Iowa Center for Economic Success contributed to Young's success. He received assistance from the Women’s Business Center and obtained a small business loan from the small business loan department. The loan he received from the Iowa Center was used for the first round of production for his sauce. He has repaid the loan and was able to ramp up production during that time. Mr. Young has also volunteered as a speaker to potential entrepreneurs. We are very proud of Mr. Young's accomplishments and look forward to his continued success.
Silica Boutchee received assistance for her business plan with the Women’s Business Center at the Iowa Center for Economic Success through our DreamBuilder Program. She also worked with VITA for tax assistance. Once all her paperwork was in order she was able to obtain a small business loan from The Iowa Center. She used a portion of her small business loan buy a business called Puttin’ on the Ritz and rename it to Eventfully Yours. It is a company that specializes in linens and decor which includes backdrops, draperies, trees, runner’s chairs and tables. She used the other portion of her small business loan to purchase more inventory and to use as working capital. At that time, the company was involved in between 30 and 50 events per month. Since then, Silica has grown her company and works over 120 events every month. In addition, she has moved into a larger space and her company is currently searching for a building of its own. We see Silica often as she attends many networking and educational events at the Iowa Center. We are excited to see her future growth.
Christina Mutchler came to the Iowa Center three weeks after retiring. She knew what she wanted to do, but she did not know where to begin to set up a new business. After some direction from the Iowa Women’s Business Center, Christina began to talk to the loan department. Within a couple of weeks, she had created a business plan with financials in place for her new company which she called Scherr Contracting, named after her father. A firm believer in family, Christina created this business primarily to pass down to her son but also as a retirement job. Scheer Contracting is an underground utility contractor providing qualified labor for fiber optic cable jetting in Iowa. The company started with two people, Christina was working in the office and her son was working in the field. Within a year of receiving a small business loan, Scherr Contracting has grown to four people in the field along with two additional vehicles. The company has grown so quickly that at times Christina must work in the field as well. Christina calls us from time to time to give us updates and asks questions that we refer to our volunteer accountant and attorneys. She is always thankful for our help with her rapidly growing company.