Six small businesses get impact loans from City of Des Moines
The city granted $100,000 total, so the loans range from $5,000 to $20,000 with repayment time between three to five years.
For some businesses, this meant helping to establish a brick and mortar, for others, a new addition, upgrades or more inventory.
The six businesses are: 24K Juice, Black Bagel, Chandelier, Tullpa Restaurant, Rook Room and HOTORI, an Asian household goods store.
'So, we were able to get $15,000 from them to go towards inventory, go towards some build out things. They've been super helpful for us, and it's allowed us to get some flexibility in terms of like getting things going,' HOTORI owner Nam Ho said. 'So, I think programs like this with the city, it gives a little bit more room for people to get things started.'
HOTORI is also hoping to share their culture with Des Moines.
Caitlin Clark Foundation dishes another assist
'Having a store that carries unique products especially from Asian or Asian American makers is something that I think there's a gap in. So being able to sort of fill that, having it in our own city I think is important to having the city grow,' Ho said.
'Everyone that comes in the store kind of knows a little bit, something about culture and enjoys it themselves. I think they've been really appreciative of just being able to come in,' HOTORI co-owner Torri Myers said.
Rook Room is another small business loan recipient. After six years of hosting board game events around Des Moines, they're finally opening their doors to a game lounge and cafe at the end of the month.
'The city having a program where if you're denied other sources of funding, when people don't quite get your vision of bringing up first of its kind concept to a new city, the city that can then step in and make that happen. That's amazing' Rook Room co-owner Tony Tandeski said. 'We have talked to so many people that are like, okay, so are you a bar? Are you a restaurant? Are you a cafe? What are you? I don't get the game concept. Are you an event center? We're not understanding the concept. For the city to be able to come in and say, I believe in your vision. I believe in what you can create. I believe in what you're bringing to this area of the city and then put the money behind that, the funds to actually make it happen, make that dream a reality. It feels so good to have somebody believe in you, and for that city to back you up to make that dream a reality.'
Metro News:
Six small businesses get impact loans from City of Des Moines
ARL sees rise in highly contagious canine virus in Des Moines
Des Moines officer was 'legally justified' in March shooting of assault suspect, county attorney says
Scholastic Spotlight: Waukee's baby chicks
Golf tournament raises $30,000 for families of Iowa veterans and first responders in first swing
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 hours ago
- Yahoo
Should You Buy the Post-Earnings Dip in Tapestry Stock?
Tapestry (TPR) says it topped Street estimates on both top- and the bottom-line in its fiscal fourth quarter. Shares of the fashion giant still closed down some 15% on Thursday. TPR shares were punished primarily because management trimmed its earnings guidance for the full year, which did not particularly sit well with investors. More News from Barchart UnitedHealth Stock Soars as Warren Buffett's Berkshire Hathaway Discloses $1.57B Stake Palantir CEO Alex Karp Sees More Gains Ahead With America-Focused Growth Strategy, Calls U.S. The 'Leader of the Free World' Lucid Motors Is Caught in a Tariff Trap. Is LCID Stock More Likely to Hit $1 or $7 in 2025? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! It's worth mentioning, however, that Tapestry stock has been in a sharp uptrend since early April. Despite the post-earnings plunge, it's up nearly 70% versus its year-to-date low. Tapestry Stock Faces Tariff Risk Ahead Tapestry lowered its full-year outlook on Aug. 14 mostly because of higher tariffs under President Donald Trump's administration, which it believes could cost it as much as $160 million in fiscal 2026. According to TPR's chief of finance, Scott Roe, tariffs will particularly hurt the company's Kate Spade brand since 'the vast majority of its business is in the United States.' To that end, the company plans on reducing the range of Kate Spade handbags it offers across all regions by 30%, which, it argued, could help lower the potential impact of new levies. TPR shares slipped following the earnings release today also because the company's sales tanked 11% in Japan and another 1% in other Asian countries. TPR Shares Are Not Attractively Priced Other than Trump tariffs and their potential impact on Tapestry's financials, the company's shares aren't worth buying on the post-earnings dip also because they are not attractively priced. According to CFRA analysts, Tapestry stock has seen its forward price-earnings (P/E) multiple grow from under 10x to more than 20x in less than 12 months. This suggests continued outperformance or financial strength is already priced into TPR stock at current levels leaving limited room for upside. CFRA's 'Hold' rating on the NYSE-listed firm comes with a price target of $96, already in line with where it's trading at the time of writing. How Wall Street Recommends Playing Tapestry Heading into the earnings release, Wall Street had a consensus 'Moderate Buy' rating on Tapestry stock with a mean target of $112 indicating potential upside of roughly 13% from here. However, investors should practice caution in buying TPR shares since analysts could downwardly revise their estimates for the fashion holding company following its quarterly update on Thursday. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 hours ago
- Yahoo
The bond market is signalling that a September cut from the Fed is no longer locked in
Surging U.S. producer prices and a spike in Treasury yields have cast some doubt on a widely expected Fed rate cut in September. The S&P 500 remains near its high, however, and is banking on a cut. While a 0.25% cut remains the most likely outcome, it no longer looks guaranteed. Globally, European and Asian equities are mixed. S&P 500 futures are flat this morning. In the stock market, it appears that all is calm, all is quiet: S&P 500 futures are flat this morning, premarket, and the index itself closed up marginally yesterday, near to its all-time high. The real drama is in the bond market. Both the 2-year Treasury and the 10-year Treasury saw their yields spike up yesterday after the producer price index (PPI) report came in much higher than expected. Tariff-driven inflation may not yet have shown up in prices paid by consumers, but it looks like it has now arrived at companies and manufacturers. The feeling on Wall Street is that this implies higher inflation is coming down the pipeline. Companies won't be able to eat higher tariff prices forever. Sooner or later they'll have to charge their customers. 'Supply chains have become longer and more complex—trade taxes progress down supply chains over months, not days,' UBS warned this morning. All of a sudden, the U.S. Federal Reserve interest rate cut that everyone thought was guaranteed in September no longer looks locked in, as keeping interest rates high is the Fed's main weapon to fight inflation. 'U.S. producer prices surged 0.9% m/m in July, far exceeding expectations of 0.2% and marking the largest monthly gain since June 2022. On an annual basis, PPI rose 3.3%, up from 2.4% in June, while core PPI jumped to 3.7% from 2.6%. The data shattered forecasts across the board, underscoring the inflationary impact of recent tariff policy and justifying Fed caution regarding rate cuts,' George Vessey of Convera told clients this morning. ING agreed. 'After the PPI spike yesterday, there has been some hawkish repricing of Fed expectations,' Francesco Pesole said in a note seen by Fortune. In the bond market, which partially reflects future inflation expectations, the 2-year yield rose by 5.7 basis points to 3.73%, and the 10-year rose 5.1 points to 4.29%. It's implication is that bond buyers think higher inflation is on its way. 'This hotter-than-expected print suggests that a September rate cut is far from guaranteed,' Jim Reid and his team at Deutsche Bank told clients this morning. He also noted that two Fed presidents said yesterday they would definitely not support a 0.5% cut, and one of them indicated he had not made up his mind on a 0.25% cut: 'St. Louis Fed President Musalem stated it was 'too early to say exactly what policy I will be able to support' in September, and noted that a 50bp cut would be 'unsupported by the current state of the economy and the outlook.' 'Similarly, San Francisco Fed President Daly told the Wall Street Journal she didn't see the need for a 50bp cut either.' The context is that a September cut of 0.25% is still the favored expectation among investors. The CME Fed Funds futures market is still showing a 90%-plus chance of a 0.25% cut. And stock investors seem bullish on the notion that the Fed is poised to deliver a new dose of cheaper money in September. If that doesn't happen—and the bond market is now hinting it's less likely than it was—expect turmoil ahead. Here's a snapshot of the action prior to the opening bell in New York: S&P 500 futures were marginally up this morning, premarket, after the index closed flat yesterday near its record high. STOXX Europe 600 was up 0.23% in early trading. The U.K.'s FTSE 100 was flat in early trading. Japan's Nikkei 225 was up 1.71% to hit another record high. China's CSI 300 was up 0.71%. The South Korea KOSPI was flat. India's Nifty 50 was flat. Bitcoin fell to $119K. This story was originally featured on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
a day ago
- Business Wire
STARLUX Airlines Announces Partnership with American Airlines
TAIPEI, Taiwan & LOS ANGELES--(BUSINESS WIRE)--On the heels of the announcement of its new nonstop flights from Phoenix, Arizona to Taipei, STARLUX Airlines revealed another milestone — a partnership with American Airlines today. With this new partnership, passengers on both airlines will have convenient access to more routes connecting North America and Taipei. The new Interline Partnership with American creates enhanced convenience for travelers, offering single-ticket booking and through-checked luggage between American's extensive North American network and STARLUX's transpacific and Asian routes. Passengers can easily connect to Taipei from numerous American cities including New York, Philadelphia, Boston, Chicago, Charlotte, Miami, Dallas-Fort Worth, Mexico City and more. 'We are very honored to have the partnership with American Airlines — one of the United States top airlines,' said STARLUX CEO Glenn Chai. 'The partnership will greatly expand STARLUX's reach into the U.S., with customers accessing American's vast North American network. It will also increase travel choices for American Airlines customers looking to travel to Taipei.' 'American is delighted to offer more travel options for customers with STARLUX,' said Anmol Bhargava, American's Senior Vice President of Alliances. 'Through this interline partnership, customers can enjoy convenient connections from Taipei to more than 250 destinations in North America. We look forward to working with STARLUX to enhance opportunities for American's customers to travel from North America to Taipei.' With the launch of STARLUX Airlines' Taipei–Phoenix route, the networks of both airlines will become even more seamlessly connected. As a key hub in the southwestern U.S. for American Airlines, Phoenix offers strategic advantages. To maximize convenience for travelers heading to North America, STARLUX has scheduled its Phoenix flights to allow smooth connections to American flights bound for major U.S. cities such as New York, Philadelphia, Chicago, Charlotte, Miami, Dallas, Las Vegas, and more. Flight JX026 from Taipei arrives in Phoenix at 5:40 p.m. local time, allowing travelers to connect to over 40 domestic U.S. destinations via American. The return flight, JX025 from Phoenix to Taipei, is scheduled to depart at 10:45 p.m., enabling passengers from more than 60 U.S. cities to fly American into Phoenix and then transfer to STARLUX's flight to Taipei. Single-ticket booking for STARLUX and American flights are now available through travel agents. Meanwhile, STARLUX has just launched ticket sales for its new route between Taipei and Phoenix. The route will be operated with Airbus A350 aircraft, offering a total of 306 seats: four in First Class, 26 in Business, 36 in Premium Economy, and 240 in Economy. For more information, visit About STARLUX Airlines Founded on the philosophy that luxury should be available to everyone, not just the elite, Taiwan-based STARLUX is a boutique international airline serving a total of 29 destinations from Taiwan to the U.S., Japan, Macau, Vietnam, Thailand, Philippines, Malaysia, and Singapore. STARLUX passengers traveling between Asia and North America are able to enjoy an easy transfer in Taipei with its four U.S. routes: Taipei-Los Angeles, Taipei-San Francisco, Taipei-Seattle and Taipei-Ontario, CA. On January 15, 2026, STARLUX will launch its fifth U.S. destination—Phoenix, further strengthening its transpacific network. STARLUX prioritizes safety and offers unparalleled service with the goal of making flying a truly luxurious and unforgettable experience. About American Airlines As a leading global airline, American Airlines offers thousands of flights per day to more than 350 destinations in more than 60 countries. The airline is a founding member of the one world alliance, whose members serve more than 900 destinations around the globe. Shares of American Airlines Group Inc. trade on Nasdaq under the ticker symbol AAL. Learn more about what's happening at American by visiting and connect with American @AmericanAir and at To Care for People on Life's Journey®.
