Bank of Idaho expands commercial lending division

Tony Vahsholtz

Bank of Idaho has expanded its commercial lending division, embracing the strengths of the Small Business Administration (SBA).

With an eye toward becoming the go-to SBA lender in Idaho, the bank is capitalizing upon its
comprehensive expertise in SBA lending by creating a cutting-edge, stand-alone SBA department headed by Tony Vahsholtz, formerly the vice-president and area commercial manager of the Boise Market.

"SBA lending has always been a passion of mine, and I've been doing it since 1998," Vahsholtz said. "Judging by current trends, I really think you'll see a lot of SBA lending done over the next two years. We want to be regarded as the experts in this market."

The shift creates advantages on multiple levels: clients will benefit from the enhanced focus of the new department; and the bank gains assurance because a larger portion of its small-business lending portfolio will be backed by the SBA.

Bank President and CEO Jeff Newgard said adding a specialized department was a boots-on-the-ground decision made after booking more than 1,000 PPP loans in a matter of weeks. "Our loan officers along with our small-business customers are really finding that the SBA is tailoring programs to provide a lifeline that's not available anywhere else. So it only makes sense to get that help to the small-business community as quickly and efficiently as possible."

For instance, the SBA has introduced a program in which they'll cover the first six payments of loans booked before the end of September. "That's huge. For larger loans, that could be hundreds of thousands of dollars,” Vahsholtz said. "And I imagine they'll make new offers as well, as the recovery continues. We want to be there to make sure small businesses in Idaho are first in line."

Vahsholtz officially began in his new role Aug. 17. He relishes the unique opportunity. "Bank of Idaho expanded into the Boise market when I signed on, just over a year ago, and this is very similar. We start up, expand, find the right people, and book some loans,” he said. “We’re very adept at growing the bank by simply addressing our customers’ needs. It's great to work at a place that operates like that. "

Idaho Falls Costco reveals opening numbers

For Labor Day, Costco is offering it signature 10 inch round cakes. Available in white or chocolate. Baked fresh in house and available at all Costco Bakery locations. Save $2 off at the bakery through Saturday, Sept. 6.

Costco opened its doors in Idaho Falls Aug. 14, and while the grand opening was expected to be busy, it ended up being more successful than managers had predicted.

Over the weekend, 1,300 people signed up for a new membership. Approximately 11,000 members came through the doors and sales were 20% higher than anticipated, Manager Greg Gillingham told the Post Register.

“I think the larger warehouse helped to spread members out in the store a bit more so it didn’t feel congested or have lines at checkout,” he said.

I still have the Kirkland pink Himalayan salt I bought at the Pocatello store in 2017, so I'm on the fence about joining, but it's my wife who will make that decision, I suspect. If you have joined, here are some links that might enhance your experience.

25 Best Kirkland Products You Should Buy at Costco (Kiplinger)

The Best Things to Buy At Costco, Because We Know Those Giant Aisles Can Be Overwhelming (Woman's Day)

The 10 Best Things We Bought at Costco in February (Kitchn)

Focus on Craft and Business | Tyler Price, Austin Kade Academy

Tyler Price

What sets Austin Kade Academy apart from other beauty schools is its focus on education around beauty techniques in addition to learning how to run a business. Since most technicians are sole proprietors, learning business principles can be the key to their success. Tyler Price, and his wife, Allison, realized this when they started the school in 2008 and have been following that vision ever since.

Tyler has recently partnered with previous graduates who were looking to do more and opened Lyle Amado, a barbershop, and soon, Lash and Body Lounge, both located in Ammon. “These are graduates who want more, they are doing a lot of the heavy lifting. I bring the marketing and business development,” Tyler said. Working within any of Tyler's spaces comes with strings that he likes to refer to as discipline. Part of the rental of the space includes a monthly coaching session with Tyler where he helps them develop their business. “There's some love in that. They appreciate the fact that I hold them to the fire a little bit,” he said.

Tyler demonstrates a great passion for the beauty industry, and during the coronavirus pandemic shutdown earlier this year he took a vocal stance to get this industry back to work. “The kids were dying. This is how they make their living,” Tyler said. Most individuals in the industry didn't qualify for government programs offered to offset the losses. Understanding that the beauty industry was second only to healthcare facilities in sanitation procedures he was confident that business could continue with minimal risk. He opened his doors when others kept theirs shut despite the staged criteria provided by the state.



His boldness in this area was not appreciated by everyone in the industry and with other small businesses. “The saddest part for me was, first off, our governor acting like he could take our license. He scared everybody. I was vocal and told him to come and take my license. He couldn't and he knew he couldn't.” Tyler was reported to the state and local authorities but there was nothing enforceable that they chose to do. Tyler stands behind all of the protective measures they took and is proud that he was able to get his team back to work even during a time of fear and unknown future. “We will never close our doors ever again,” Tyler said.

With his experience, he is now working with the Small Business Development Center in Idaho Falls and is helping businesses to deal with COVID related issues or general business growth and development challenges. “There are resources we can direct businesses to,” Tyler said.

Tyler has an interest in local business owners and individuals who are doing interesting things and so he decided to combine his love of VW bugs with getting to know local people and started doing interviews while in the bug. Tyler drives around town and asks questions of his guests. There's also a '57 bug in Lyle Amado for everyone to enjoy.

Family has always been important in Tyler's life and he found great inspiration from his own father who acquired and sold businesses while being an accountant. “He was, in my opinion, a brilliant business mind and he was pretty gutsy. We learned a lot from him,” he said. Tyler's partner in business is his wife, Allison. “It's been hard but great at the same time. In the grand scheme of things she's the talent and I'm just the guy that talks really loud and obnoxiously at times,” Tyler explained.

For those considering self-employment, he says, “Start now.” Like many guests before him, Tyler advises to go for your dreams and utilize the resources around you to do it the best way possible. “Don't wait. So many say ‘I'll to this when'. Time is always ticking,” he said. He sees people who wait and they are no further ahead.

Tyler recently started growing micro-greens and creating grow tables. He said he recognizes a business opportunity with them, but not for him.

Information

If you are interested in learning more about Austin Kade Academy you can find them at https://austinkade.com/.

Learn more about Lyle Amado at https://lyleamado.com/.

To watch his interviews in a bug follow him on Facebook at https://www.facebook.com/tyler.price.526.

Intermountain Packing plans $20 million meatpacking plant on Idaho Falls' north side

The plant will be on Iona Road between Holmes Ave and North 15 East.

Intermountain Packing, an offshoot of Intermountain Bison, is negotiating with the city of Idaho Falls over incentives to build on the south side of Iona Road between Holmes Ave and North 15 East. The project calls for a 50,000-square-foot plant on nine acres of land with a total capital investment of $20 million. 

Construction is currently projected to begin in September and is expected to take one year to complete. The company says it will create approximately 200 full-time jobs with wages of at least $15 per hour and medical, dental and vacation benefits.

Intermountain Bison is an Idaho Falls-based company founded by Roger Ball, whose business history in the area dates back decades and includes Ball Packing in Idaho Falls 1969, Golden Valley Natural and King B Jerky.

For the full story, read Sally Krutzig's story in the Post Register: $20M meatpacking plant looks at Idaho Falls, bringing 200 jobs

Agriculture for Entertainment | Ryan Searle, Wild Adventure Corn Maze

Ryan Searle of Wild Adventure Corn Maze (Renae Oswald photo)

 

Ryan Searle was determined not to be a farmer like his family before him. He went to school and studied business because he knew he wanted to be a business owner. Loving motorsports, he had planned to own and operate a motorsports business. Due to some unforeseen circumstances, that goal did not pan out. What he learned is that although he couldn't control the weather to be a successful farmer he found out that the same applied to other businesses. “Reality is nobody really has control,” Ryan said. That realization brought him back to the farm.
 
As the third owner of the Wild Adventure Corn Maze, Searle has big ideas for what he wants to accomplish and all of it surrounds family fun. Last year the corn maze was designed around honoring veterans. Designs are decided at the end of the previous season and this year's theme has yet to be announced. New to the Maze last year was the sunflower patch and it's back again this year, bigger and better.
 

Sunflower Days are happening through Aug. 29. Last year they were only able to be open for 10 days. “It's five months of work that we got 10 days out of,” Searle said. He admits that it was a great learning experience and this year they have done things differently. “Let's go big and better, we want this to last a month. We had multiple plantings to extend the season,” he explained. Along with that, he planted several different varieties of sunflowers for people to enjoy. This year they are also allowing individuals to pick flowers and fill a pail. “It's a crazy killer deal,” he said.
 
The corn maze is open for seven weeks and will be opened starting September 14th. In the corn maze, he grows short-growing corn so that it can be harvested after the maze is over.

The previous owner had been looking for a new piece of ground and knew of Searle and that he had property along the highway. He'd run it that year and did much of the work, but decided that he couldn't do the corn maze any longer and so he offered the opportunity to Searle.

When asked about why he decided to do the corn maze he explained, “It was the right place, right time, fell in our lap. In our area, we can't do this full time to support a family. It's something new and challenging. You've got to diversify to afford to farm.”
 
Searle's advice for anyone considering self-employment is, “Who do you trust the most? I trust me to do the work that needs to be done,” he said. Most people aren't willing to put in long days and dedicate themselves to their business, and those individuals are not made for owning their own business. He also feels that business owners require an optimistic attitude.
 
The future for the corn maze is to continue to grow the sunflowers and provide the corn maze at the current location. Some investments are dependent on owning the ground, which Searle does not currently. Other announcements are yet to be shared on growth, events and supporting partners that will improve the experience.
Information
For more information on the Wild Adventure Corn Maze go to their website at https://wildadventurecornmaze.com/. You can also find them on Facebook at https://www.facebook.com/WildAdventureCornMaze/.