Iowa Fluid Power
Iowa Fluid Power
Dona Kaas: Hi, I'm Don Kaas CEO of Iowa Fluid Power. Back in 1974 our business was just an idea, an opportunity, and a dream. Without an important loan from the SBA, what you are about to see never would have happened. This is our story.
Speaker 2: The Iowa Fluid Power Company began as a simple but timely proposition for Cedar Rapids business man Don Kaas. Don Had been offered the chance to purchase the Iowa portion of the business where he was working. Despite exploring all conventional resources Don was still several thousands of dollars short. Don applied for a loan with the SBA. The application was accepted, and Don, with the SBA's assistance was able to cover the original purchase price, and also received some additional working capital. Over the past thirty-eight years, Iowa Fluid Power has grown steadily, becoming the Midwest's leading provider of motion control solutions. Iowa Fluid Power and their manufacturing company Electro Hydraulic Automation now provide engineering, manufacturing, and other support services to clients in a wide range of industries. The products the company makes help their costumers remain competitive in the global market place. From their original offices in Cedar Rapids the business has expanded, creating locations, and stocking warehouses in Minneapolis, Kansas City, and Houston. But beyond impressive growth, an area of great pride is the company's employee development, and the opportunity of advancement within the organization. Iowa Fluid Power has been exceptionally successful at putting Americans to work and keeping those jobs here in the United States. With an annual payroll in excess of $7 million, Iowa Fluid Power enjoys great retention among its employees, many having worked for the company for decades. Don Kaas started his business with only one full-time employee. Today, because of the small business administration's assistance, Iowa Fluid Power has become a model of ingenuity, and a genuine SBA success story.