From North Iowa Area Community College, www.niacc.edu

John Pappajohn Entrepreneurial Center News
Entrepreneurs' Exchange - 2009 Stimulus Package - What’s In It for You?
Apr 14, 2009

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On April 29, NIACC will host a special event Entrepreneur’s Exchange focusing on the 2009 federal stimulus package and what it can provide for local businesses, economic developers, and entrepreneurs.  Joseph Folsom, District Director with the US Small Business Administration, Des Moines District, and Assistant Director Tom Harbison, US Small Business Administration, Des Moines District, will provide an overview and update on the implementation of the SBA provisions of the American Investment and Recovery Act a/k/a 2009 Stimulus Package.  This special event Entrepreneurs’ Exchange will be held Wednesday, April 29, from 6:00 to 7:30 in the Muse-Norris Conference Center, Room NC180, on the NIACC campus.

Folsom and Harbison will decode the stimulus bill that was signed into law on February 16, 2009, and show you how to take steps to tap into this financial resource for your business and economic development projects.  They will walk you through the multitude of changes made to the SBA loan requirements (such as elimination of borrower fees), an increase in the SBA guarantee for certain loans – up to 90% for certain loans, a new stabilization loan program offering deferred-payment loans of up to $35,000 to viable small businesses that need funds to make up to six months worth of payments on existing, qualifying debt which also have a 100% guarantee, and steps taken to provide access to lenders for the 7(a) secondary market for SBA loans, and even an increased surety bond guarantee limit so that businesses can get help with bonding for contracts up to $5 million and sometimes $10 million.

To learn more about the 2009 Stimulus Package and the financial incentives that are available from SBA to assist your local business, economic development project, or lenders, plan to attend the special event Entrepreneurs’ Exchange on Wednesday, April 29, from 6:00 to 7:3 p.m. in the Muse-Norris Conference Center, Room NC180 on the NIACC campus.

To ensure adequate space and refreshments for this event, RSVPs for the Entrepreneurs’ Exchange are appreciated.  For vendors who market goods or services, a limited number of FREE display tables are available.  Please email incubator@niacc.edu or call Liz at 641-422-4384 or toll-free at 1-888-GO NIACC, ext. 4384. 

The John Pappajohn Entrepreneurial Center is located on the North Iowa Area Community College campus in Mason City, Iowa and provides college level courses and degree programs in entrepreneurship, as well as consulting services for business start-ups and existing industries in the North Iowa region.  The Center also provides FastTrac ® training programs both for start-up companies and established companies.  Space is also available in the North Iowa Business Incubator for start-up businesses.  For more information, contact the NIACC JPEC at 641-422-4342.

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