It Takes More Than Money

Small businesses are the heart of Iowa’s economy. Iowa has an estimated total of 261,800 small businesses. Keeping them vital is important to Iowa Farm Bureau’s Renew Rural Iowa program.

Recognizing the importance of small business’ contribution to our state’s economic health and vitality, the Iowa Farm Bureau created an innovative program to enhance and improve the economic growth of Iowa.  In 2007, Renew Rural Iowa, a program designed to increase enterprise value of both new and existing business in Iowa’s small towns was developed. Through business education, mentoring and financial resources, the program connects entrepreneurs to the necessary resources to nurture and grow their business in rural Iowa.

The Rural Vitality Fund was created out of the Renew Rural Iowa program and is the general partner for two funding sources; the Rural Vitality Fund, LP (RVF) and Rural Vitality Ag Processing Fund, LP (RVAPF).

These funds are made available through a unique investment partnership between the Iowa Farm Bureau Federation, Wellmark Blue Cross and Blue Shield of Iowa, CIPCO and the Iowa Agriculture Finance Corporation. Together with the Renew Rural Iowa program, this group is committed to supporting the technical and financial needs of Iowa’s rural businesses.

While the funds are restricted to qualifying businesses located within community populations of less that 30,000 for the RVF, and 50,000 for the RVAPF, they are devoted to helping small Iowa companies prosper. As an investor in these businesses, the Rural Vitality Fund program serves in an advisory role, assisting and mentoring companies within the fund to take the necessary steps that will put their business in the best position to be successful and credit worthy.

But more than money is necessary for a business’ success.  A product or service may have major potential in the marketplace, but if the company does not have the ability to produce, price, market or sell its product or service at a profit, the company will fail.  

To learn more about the technical resources that will help your business grow and promote vitality in rural Iowa visit www.renewruraliowa.com or call (800)254-9670.