Joel Thilges - First National Bank - Ames, IA
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brochure in .pdf format.
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Renew Rural Iowa Leader Award winners.
About RVF LP/Partners
Finding available financing to grow your business is a valuable aspect of Renew
Rural Iowa. RVF LP was created as a part of the Iowa Farm Bureau Federation in partnership
with other leading organizations including Wellmark Blue Cross Blue Shield, CIPCO,
and the Iowa Agriculture Finance Corporation who are committed to supporting the
financing needs of Iowa’s rural businesses.
For entrepreneurs who successfully complete the program, a Rural Vitality Fund has
been established to assist qualifying businesses. This and the complimentary Rural
Vitality Ag Processing Fund are devoted to helping small Iowa companies prosper.
Investments are made into qualified companies resulting in the economic impact they
provide on surrounding communities including new job creation, expansions and growth
in retail spending.
What We Offer
These funds, intended to work with traditional capital sources offers equity and/or
debt infusions to small or mid-sized firms, financial backing and private financing
options as well as mentoring for entrepreneurial growth. No subprime loans, grants
or forgivable loans are offered.
There are two primary fund restrictions. Companies are evaluated through a due diligence
process based on a complete business plan. The plan should offer an executive summary,
financial pro-forma with assumptions, current financial statements, debt schedule,
capitalization table and the anticipated use of funds. The investment is intended
to be used as working capital.
All information provided by applicants is shared with partners for due diligence
and is kept confidential and will not be shared publicly.
These funds are intended for formal companies (LLCs and C-corps are preferred) which
are in early or growth stages of development. Over the three to five year life of
the investment, the total contribution to any one company should be less than $1
million. However, additional funding may be negotiated directly through the Iowa
Already, several businesses have been selected to receive funding for ‘next level’
growth opportunities. Businesses from Boone, Dyersville, Maquoketa, and Elkader
are among select past recipients.
Other Funding Sources
Renew Rural Iowa will make available to you other possible funding sources including
the Iowa Department of Economic Development, a group of venture capitalists, and
others which may be appropriate for your consideration.