The Iowa Economic Development Authority board on March 21 approved loans for four Iowa startups, including one loan funded through the State Small Business Credit Initiative. The companies are located in Ames, Coralville, Fairfield and Clive.
Ames-based Janas Materials Inc. develops sustainable technology for the coating industry that improves the appearance and application of wood stains. Its product in development is an environmentally friendly additive for water-based stains made by coating manufacturers to achieve the same quality color consistency as oil-based stains, a news release said. The company was awarded a $100,000 Demonstration Fund loan for product refinement, key personnel and equipment.
Poultry Patrol Inc., based in Coralville, created a poultry tending robot to stimulate bird movement in turkey barns and alert farmers of spills, health and maintenance. The company was awarded a $50,000 Proof of Commercial Relevance (POCR) loan for key personnel and proof of concept work.
Fairfield’s Better Natural LLC developed technology to integrate roof sheathing, roof cover and solar energy in one single layer. This technology allows them to lower manufacturing and installation costs and create more visually appealing solar energy systems that look like roofing tiles. The company was awarded a $50,000 POCR loan for key personnel and equipment.
Mod Advisor Inc., based in Clive, automates the process of performing workers’ compensation experience modification analysis for insurance brokers and carriers. The company’s software provides a simplified real-time analysis between policyholder, broker and carrier to help businesses make quicker decisions about claims. The company was awarded a $250,000 Innovation Acceleration Launch Fund loan for proof of concept work, product refinement, key personnel and market planning and entry activities.