Blog-August 21, 2023-10-11—It’s YOUR Ag Business

Our It’s Your Agri Business Show---had a chance this morning to get an update from Growth Energy pushing to do even better with RFS---renewable energy and environmental program.

    Joining us was Chris Blyly---back to talk about one of the nation’s most successful renewable energy and environmental programs. However it is the target of near constant litigation from groups seeking to weaken it, limit its reach or undo it altogether. EPA has amply shown that the RFS Set does nothing to undermine our nation’s commitment to protecting endangered species. Oil industry interests surely much enjoy watching some environmental groups to their bidding by working so hard to undermine a program that is, today, and into the future reducing our nation’s reliance on fossil fuels and lowering carbon emissions.

    Our interview with Growth Energy’s CEO Emily Skor’s company gave us a quick briefing and an invitation to the company to keep us informed and posted on future developments.

   Casey Crabtree -South Dakota Leader in Pierre updated us on the summer activities and ag events that are still in the limelight. On our end—those in agriculture expect their Crabtree-like leaders to remember Agriculture is still #1 in South Dakota.

   Candi Briley—SD State Fair---is counting us down to our trip to Huron for the 2023 State Fair---we will be there live on Friday—September 1st—9-11---and we look forward to all they are doing—what we will see from the kids---Huron is a great host—and we want to be there to salute agriculture-

    Brent Baloun---Plains Commerce Bank---shared with us their trip and support of the Dakota Fest last week in Mitchell. Brent and Mr. Nolan joined us in the Reaves Building on the grounds-and we talked ag—the kind of things Plains is helping plan----and today—we were doing follow-up—particularly with 100+ heat expected Tuesday-Wednesday and perhaps Thursday this week.

    Sarah Heinrich—KFGO Fargo—shared the Growing Harvest Report---Matt Swenson—the owner-the-partner—the up-to-the-minute market man gave us the latest meat-grain—and Wall Street Updates.

    We were so impressed -and according to our listeners so were they to meet Kelsey Gereats—named the South Dakota Women’s Farmer-Rancher of the Year. She came to us in our studios—and we talked about her being on the South Dakota Beef Board and the first woman on the South Dakota Corn Growers. She was studying to be a vet at SDSU—but when her parents came to her—and asked her to take care of the 2400 head of cattle—the ethanol concerns---she took care of the family business. She is engaging----and promises to bring a guest a month to our studios to talk about women in agriculture what they are doing—or more importantly what they can do to engage even more.

    Jaime Wood-SBA of South Dakota---talked with us this morning

Last week, SBA announced the U.S. Small Business Administration (SBA) Small Business Investment Company’s (SBIC) Diversification and Growth Final Rule is effective. Under the new rule, the SBA will implement regulatory and policy reforms to increase access to private equity and debt capital for: 

• Underserved small businesses and startups, 
• Undercapitalized critical technologies, 
• Diverse and emerging fund managers, and 
• Innovation investment. 

With the changes, now private market fund managers can apply for SBIC licenses designed for investing in American small businesses and startups with equity-oriented or long-duration strategies. The two new SBIC licenses – the “Accrual SBIC” and the “Reinvestor (Fund-of-Funds) SBIC” – expand the SBIC program network of private market financing partners and the SBA’s reach to historically underserved small businesses and startups.  Critically, the regulatory and policy reforms are designed to reduce the financial burden for new program applicants and provide a more streamlined application experience.  

Today, the SBIC program, which began in 1958, is comprised of more than 308 discrete private funds across mezzanine, private credit, buyout, growth, venture, and multi-strategy, which collectively have more than $40 billion in public and private assets under management (AUM). Last year, SBICs invested $8 billion in more than 1,500 companies that created and sustained over 103,000 U.S. jobs.   

UPCOMING TRAININGS:

Wed., 24 Aug, 1-1:50 pm – free webinar on "How to Finance a Small Business" -- this is part of a webinar series SBA SD and Sunbelt Business Advisors have offered the past few months.  Financing a business purchase is an important step toward owning a business. The panel of speakers will provide insight into:

• How new entrepreneurs realize their dream of business ownership and:
• The benefits of utilizing SBA loans.
• The SBA 504 Program
• Pre-screening for funding opportunities.

Must register to receive the webinar link:   www.sba.gov/southdakota

The Rock Report shared info from IBT Online of London. They provide online Global programs making the internet work for their clients 24/7, 365 days a year in any and all of their global target markets. Today the internet presents global opportunities that are sustainable and climate positive—helping companies sell products and services across borders, countries and cultures.

   We closed the show with SD Climatologist—Laura Edwards—we looked at 2 or maybe 3 100 degree days ahead-and she shared that we are traditionally at the end of our hot spell by this time in August.

   Laura has been on the road—teaching-learning—and helping those look to the days ahead.

  Our It’s YOUR Agri Business show is available live at 1320, 105.1, 107.9—use the KELO App—Streaming on line or just ask Alexa.

   Norm Anderson will have the show available as a podcast by NOON on the day that the show runs live. Go to the KELO-AM Website-look for August 21, 2023-10-11—It’s YOUR Agri Business. Use these notes as a guide-a blog to what is in the show and where to find it.

   Questions for me—feel free-to call/text at 605-728-2455 (Bill) or email me at bill.zortman@mwcradio.com.