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Monday PM Daily | November 8, 2021
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SBA backs $3.33M in loans to Central Iowa businesses in October
By Business Record StaffThe U.S. Small Business Administration backed more than $3.33 million in loans for Central Iowa businesses in October.
The 10 loans are expected to create 51 new jobs and retain 42 jobs. Among the top loans by dollar amount in October:
- Jam Investments of Ankeny LLC, for an existing limited service restaurant business in Ankeny,
for $1,371,000.
- STRE LLC, for a new office of real estate agents and brokers in Johnston, for $810,000.
- Fit Farm Holdings LLC, for an existing personal services business in Ankeny, for $389,000.
Including these loans, statewide the SBA 7(a) and 504 programs capitalized 19 new and 36 existing businesses that report creating 212 new jobs and retaining 397 jobs as a result.
Insider: A spreadsheet of all Central Iowa SBA loans.
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NEWS BRIEFS
UI Institute for International Business to train Saudi women to be entrepreneurs
Fifty Saudi Arabian women will learn how to become entrepreneurs, with the help of an educational program from the University of Iowa that will also connect them with mentors throughout the state. The university’s Institute for International Business has received a $123,000
State Department grant through the U.S. Consulate in Jeddah, Saudi Arabia, to provide entrepreneurial education to the women, who live in the western part of Saudi Arabia. The Western Saudi Arabia Venture School for Women program is designed to "put new entrepreneurial tools into the hands of Saudi women," said Dimy Doresca, director of the IIB, a partnership between the Iowa John Pappajohn Entrepreneurial Center and the Tippie College of Business. Female Iowa entrepreneurs will also work with the Saudi women as mentors, providing support and encouragement while serving as role models. "With the guidance of Iowa professionals, we will train aspiring innovators of business and social enterprise through the startup process using methods that reduce risk and encourage ongoing innovation," said Doresca. "We will nurture and empower women in Saudi Arabia to become examples of social and economic success in their communities." More details about the one-year program can be found at this link.
Regents approve new UI
center focused on neurodegenerative disease research
Millions of Americans and hundreds of thousands of Iowans are affected by Alzheimer’s disease, Parkinson’s disease and other neurodegenerative diseases, yet there is currently a lack of effective therapies and treatments. This week, the Iowa Board of Regents granted University of Iowa Carver College of Medicine approval to develop a new center focused on the study of neurodegenerative diseases. "The center will help catalyze research breakthroughs that will make a palpable difference in the lives of patients affected by neurodegenerative disease," said Dr. Nandakumar Narayanan, an associate professor of neurology at the UI Carver College of Medicine who studies Parkinson’s disease. Read more about the center at this page on the college’s website.
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THIS WEEK IN FEARLESS
Takeaways from Women Lead Change Central Iowa Conference
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The theme of this year’s Women Lead Change Central Iowa Conference was "Joining Voices: Leaders for Equity."
One way I like to practice equity is by sharing knowledge. In this case, sharing knowledge looks like sharing the highlights of my nine pages of notes.
Before you assume that because the conference has the word "women" in it that’s only meant for women, think again. The following takeaways can be of use to anyone. Read more
Sign up for the Business Record's weekly Fearless e-newsletter.
Read more at businessrecord.com/Fearless.
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NEWS BRIEFS
Bumper crops forecast in Iowa, despite bumpy ride with weather
Cedar Rapids Gazette: Iowa and the country could be headed for record corn yields, despite uneven weather throughout the year, state agriculture and climate experts said Friday. Iowa corn is forecast at 2.5 billion bushels, averaging 201 bushels an acre, which is an increase of 24 bushels per acre over last year, according to the latest information from the federal agriculture department. Soybeans appear headed for similarly big yields. Soybeans in Iowa are forecast at 611 million bushes at an average of 61 bushels per acre, up 7 bushels per acre from last year, according to federal information.
Berkshire Hathaway’s profit falls in third quarter
New York Times: Berkshire Hathaway, the conglomerate run by Warren Buffett, on Saturday reported a sharp decrease in earnings in the third quarter, reflecting the turbulent financial markets as well as a slowdown in the U.S. economic
recovery with a spike in COVID-19 cases. Profits fell by two-thirds to $10 billion, down from $30 billion in the same three months of 2020.
U.S. seizes $6M in ransom payments and charges Ukrainian over major cyberattack
CNN: Law enforcement officials seized an estimated $6 million in ransom payments and federal prosecutors charged a suspect from Ukraine over a damaging July ransomware attack on an American company in a breakthrough for the Biden administration's pursuit of cybercriminals, the Justice Department announced today. Yaroslav Vasinskyi is accused of conducting a ransomware attack over the Fourth of July weekend on Florida-based software firm Kaseya that infected up to 1,500 businesses around the world.
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ONE GOOD READ
Where and how do you find age-friendly employers?Next Avenue: Nearly half of working boomers are looking for a career change, according to a new LinkedIn data survey. Some want to reinvent themselves in their current roles, others hope to switch employers. The question is: Where and how do you find age-friendly employers? This piece offers insight into those looking, but it’s also helpful for business leaders to know what this demographic is looking for during
this time.
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KCCI TOP STORIES
DMPD: Apartment fire started by occupant lighting bug on fire
Des Moines police said they may know how an apartment fire started early this morning. According to police, the fire started inside an apartment at Gray's Lake Apartments on Fleur Drive when an occupant "attempted to light a bug on fire on a futon." It "lit up like a tinderbox," according to police. Several people have
been displaced after the fire. Emergency crews had to block off part of that main road while they battled the flames. Fleur Drive was shut down for a few hours, but emergency vehicles left around 3 a.m. and they were able to reopen the road.
Read more
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Tonight:
Overcast. Low near 45. Winds NNE at 5 to 10 mph.
Tuesday:
Cloudy early with partial sunshine expected late. High 61. Winds NNE at 5 to 10 mph.
Get the latest KCCI weather.
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BUSINESS RECORD IOWA INDEXThe Iowa Index is an unweighted average of all Iowa-based public companies. Below is a live look at
those Iowa companies, plus additional companies with large operations in Iowa.
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