NIACC News Release
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August 1, 2000 Pappajohn Seed Capital Grants Awarded to 2 Local Businesses Newbauer, Inc. of Charles City and Crown Point Builders, Inc. of Garner were recently awarded $5,000 Pappajohn Seed Capital Grants sponsored by the John Pappajohn Business and Entrepreneurial Center at North Iowa Area Community College. Newbauer, Inc., owned by Terry Bauer, is a commercial laundry business which opened in Charles City in May. The company specializes in industrial uniform rental and cleaning services and provides a range of products for commercial customers. Bauer is a graduate of the FastTrac 1 - New Venture entrepreneurship training program through the Pappajohn Center. Crown Point Builders, Inc. is a general contracting company owned by Paul Breister of Garner. The company provides design build services for new homes, multi-family developments, and small to midsize commercial projects. Breister is a graduate of the FastTrac 2 - Planning entrepreneurial training program through the Pappajohn Center. "The Seed Capital Committee is pleased to assist these local entrepreneurs," said Doug Morse, NIACC Pappajohn Center Director. "Both gentlemen submitted an impressive business plan to meet customer needs, and we hope this grant will help them achieve their goals." The Seed Capital Grant program was established by John and Mary Pappajohn at the NIACC Center several years ago. The purpose of the fund is to assist North Iowa start-up ventures and existing small businesses to achieve growth and positively impact the area economy. Previous recipients of seed capital grants include American Crane, Inc. of Garner and White Oaks Cabinetry of Rudd. Criterion for successful awards include the quality of the management team, strong market potential, the strength of marketing and financial assumptions, and the potential impact on the North Iowa economy including job creation and/or product creation. Successful applicants must have completed an entrepreneurial training course such as a FastTrac course offered by the NIACC Pappajohn Center. For more information about the Pappajohn Seed Capital Grant program or other entrepreneurship support services, call 1-888-GO NIACC, ext. 4111 or visit the Pappajohn Center website. Ref. 1656a |
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