The Bismarck Tribune from Bismarck, North Dakota • 28

Pog4D Sunday, May 21, 1989 The Bismarck Tribune i TODAY'S TIP: With student loan defaults approaching $2 billion, the Education Department is preparing new regulations that target profit-making vocational schools that survive primarily on student financial aid and have a loan default rate three times the 12 percent national average. Associated Press fee irecirowBlhi Here's how to find path to funding By BILL HANSON, Tribune Business Writer ill the eastern stretch of Bismarck's Main Avenue, once a maior business artery, ever become tlogged from a too-rich diet of customer activity? By Bill HANSON Tribune Business Writer 2 a- Mr-. 1 Lt It A hasty view of East Main, newly bedecked with trees, might see it as a business backwater, but that draws arguments from business owners along the avenue. Cody Bahmiller, for instance, owner of Main St. Flowers at 2015 E.

Main resorted to a pun to describe her business, which includes a greenhouse: "As good as could be expected and growing all the time." The city's tree-planting program along the avenue gets a rave review from Bahmiller. "I am really pleased with the trees," she said. As many as six new business developments on East Main, including at least one major project, now are in various formative stages, said Russ Staiger, president of the Bismarck Development Association. However, most of those projects may need 18 to 30 months to come to fruition. One new East Main development in the works is a fast-food operation called Burger Time.

The Fargo-based chain, owned by Tom Sparks, needs clearance of existing structures and some other negotiations before starting construction, a spokesman said. He claimed Burger Time is an idea whose time has come "again" because their establishments operate similar to the original McDonald's franchises. It is a stripped-down fast-food operation, emphasizing speed and allowing only walk-up or drive-through service with no indoor seating. There also are no salad bars or other restaurant-type food on the menu. A quarter-pound hamburger at Burger Time costs 99 cents, the spokesman said.

A combo order includes a 24-ounce soft drink and a bag of french fries for $1.97. Besides Fargo, Burger Time has places operating in Moorhead and St. Cloud and another under construction in Detroit Lakes, all in Minnesota. If, or when, Burger Time opens, carloads of teen-agers in the traffic on East Main obviously will be a big factor affecting its success. Bahmiller said she likes the exposure her flower business gets as a result of avenue traffic.

"Kids driving by bought a lot of prom flowers," she said. Other regular customers are people who work in other businesses on or near East Main. Mort Bank, owner of McDonald's franchises throughout Bismarck and Mandan, scotched a rumor that he would close his East Main restaurant if he builds one in the downtown area at the southwest corner of North Seventh Street and Main Avenue. "As far as we know, we will remain open," (at 2207 E. Main) Bank said.

company is still working on a feasibility study before deciding on the construction of a new downtown McDonald's, he said. That study will be completed about July 1. If East Main businesses are affected by cars whizzing by, they can either blame or credit the big reconstruction project completed last year. "They certainly drive by faster, now," Bahmiller said. There also are fewer vehicles traveling on East Main now compared with five years ago.

In 1984, a state Highway Department traffic count showed an annual average daily movement of 14,000 vehicles near 26th Street. Now, however, that flow has dropped to 9,600 vehicles. Similarly, on East gXTONNlE BERTSCH of the Tribune Thrill-seekers in quest of money to start North Dakota businesses no longer have to rely entirely on a by-guess-and-by-golly approach to sources of possible funding. Federal and state money supplies for new and expanding businesses are largely demystified with the recent publication of a hefty, loose-leaf book, "North Dakota Finance Data." Credit for the new book and a pamphlet that summarizes it goes to Tim Moore of the Bank of North Dakota, the Bismarck office of Charles Bailly Co. accounting firm and the state Economic Development Commission.

Inspiration for the publications came from members of the Finance Cluster of. Gov. George Sinner's Economic Development Roundtable. If a would-be entrepreneur in North Dakota previously felt directionless in looking for a business start-up loan, it may help that person to know that there are at least nine directions to go for money. Basic details of those funding sources are summarized in the pamphlet, "Financing the Future," and spelled out more exhaustively in the loose-leaf book available at most banks and other lending institutions statewide.

As background on potential use and value of the new publications, Moore said, "The pamphlet allows a kind of 'comparative shopping' for business loans." North Dakota people with ideas for new businesses "often start from a specific discipline such as manufacturing a certain farm implement," he said, "and they lack expertise in other business The trees are in on East Main; new businesses may be next. King, by the way, hopes city officials will take action soon to clean up an abandoned neighboring business. The General Store gas station at 2103 E. Main closed its doors about a year ago and a small fire shortly thereafter left it a mess. The General Store Car Wash at 1500 E.

Main Ave. also has closed. No one from the General Stores' parent company, Interstate Petroleum Distributors, returned any of three calls the Tribune made to the firm's answering Main near Airport Road there were 17,400 vehicles in the average daily count in 1984. That has dropped to 12,000 per day. Completion of the Bismarck Expressway in 1985 apparently caused the recent drop in East Main traffic, a Highway Department official said.

Traffic, or the lack of it, may not be the only negative factor in making East Main, like the Confederacy, rise again. Two railroad companies, the Soo Line and Burlington Northern, own most of the real estate flanking the avenue. "There's not much pride of ownership for business owners who must rent," said Jim King, who operates his insurance agency at 2021 E. Main. An organized campaign continues, Staiger pointed out, to free up more Soo Line property for individual ownership.

That program now has nearly 900,000 square feet of business space along East Main, formerly owned by Soo Line, in private BUSINESS DIGEST Gary Miller, director of information systemsfiscal resources at St. Steven Chuppe of Bismarck is a new member of the American Chiropractic Association. Angeline Bushy, Medcenter One College of Nursing professor, presented her research on body image and self-esteem in pregnant women at the 12th annual national conference of the National Rural Health Association in Reno, Nev. Alexius Medical Center, is president-elect of the North Dakota Chapter of Healthcare Financial Management Association. Mark Hollan of Medcenter One was elected 1 the Professional Carpet and Upholstery Cleaners Association in Denver.

Edward Sypnieski of Bismarck, director of the local health services division of the state Health Department, received the North Dakota Public Health Association's Outstanding Service Award at the association's annual meeting in Jamestown. Alfred C. Shultz is moving his law offices from 515'2 E. Broadway Ave. to 411 N.

Fourth St. The new location is just north of Ace Two small-town hospitals and a nursing home have formed Tri-Health Services to provide community-based home health care and other services through an agreement with the Home Health Care Center at St. Alexius Medical Center. Garrison Memorial Hospital and Community Memorial Hospital and Prairieview Nursing Home, both in Turtle Lake, formed Tri-Health Services to assure nursing, home health aides, personal care attendants and health education. Howard and Marsha Leier, owners of Arrow Cleaning Service, attended the annual convention of Chuppe accepted into association.

if I SL fSy secretary. The disciplines such as finance and marketing." Here are the names of nine financing programs and maximum loans they may provide to a qualified borrower: Bank of North Dakota Risk Loan Pool, $500,000. Bank of North Dakota Small Businss Loan Program, $250,000, (BND share $187,500 maximum). Community Development Block Grant for Economic Development, $300,000 per project. organization Dro- Haunson honored with award.

Chuppe is a graduate of Northwestern College of Chiropractic, Bloomington, Minn. lviuier vides educational elected. programs, professional networking and certifications opportunities. Three staff members in the Bismarck office of John G. Kinnard Co.

Peggy Weber, Roy Towne and James Volk were among 40 of the firm's employees who participated in a two-day conference in Minneapolis. David Peterson, a Bismarck attorney, has been appointed North Dakota representative on the board of directors of the Attorneys Liability Protection Society, a 10-state self-insurance group providing attorneys with professional liability insurance. Peterson is a partner in the Wheeler Wolf Law Firm. Understanding the needs of small business isnt a matter of talking to the right people. Ifea matter of listening to them.

At WEST Communications, Or if you're ready to discuss the Industrial Revenue Bonds, up to 100 percent of total project cost. Small Business' Administration Guarantee, up to 90 percent guarantee with SBA limit set at $750,000. Small Business Administration Section 504 Program, $750,000, up to 40 percent of the total project cost. Farmers Home Administration Business and Industrial Loan, $10 million ($20 million for alcohol fuel facilities). Urban Development Action Grant Program, 15 percent to 28 percent of total project cost.

Economic Development Administration Loan Guarantee, no maximum determined by project needs. Arlene Haunson, administrative field aide to Sen. Quentin Burdick, has been named woman of the year by the Bismarck chapter of Business and Professional Women. David Vanderscoff, president of Vanderscoff Enterprises of Bismarck, has won an Advocate of the Year award from the federal Small Business Administration. Vanderscoff, an actuary, operates his own financial services and business management firm.

Terry Klein, manager of Jiffy Lube in Bismarck, has been named manager of the year in the firm's Midwest Region. The region is composed of more than 340 Jiffy Lube outlets. Klein has managed the one at Bismarck Expressway and Washington Street for 2lA years. Schmidt, owner of Photo Craig specific needs of your business, phone your local WEST Communications business office. You can be sure that when you call we'll listen.

Quick One Hour Processing Studio Portraits, 1300 E. Main Mandan, attended the International Minilab Association Expo and Seminar in. Atlanta. Schmidt has operated his Mandan business for two years. INCOME INDEX da Li Schmidt at expo.

we've found there's more value in listening to our customers than talking to them. So we surveyed thousands of small business owners. We learned how they operate, and about the many challenges they face every day. And because we listened, we understand how to apply our capabilities and services in helping your business grow and prosper. Now we want to share what we have learned.

It's all in a booklet called "Big Ideas for Small Business" that's free for the asking when you call 1-800-792-0800. Big ideas for small business. Current Previous Nt Rqt Chongo SHORT TERM INTEREST RATES Prime Rate ..11.50 11.50 Money Market Mutual Funds 9.58 9.57 .01 Bank Money Market Accounts 7.60' 7.67 .07 Bank Super Now Accounts 6.55 6.62 .07 3 Month Treasury Bills 8.55 8.65 .10 3 Month Bank Cert, of Dep 9.30 9.50 .20 6 Month Treasury Bills 8.75 8.90 .15 1 Year Treasury Bills 8.80 9.05 .25 INTERMEDIATE TERM INTEREST RATES 2'j Year Cert, of Dep 9.10 9.30 .20 5 Year Cert, of Dep 9.00 9.15 .15 5 Year Treasury Notes 8.80 9.05 .25 10 Year Treasury Notes 8.75 9.05 .30 5 Year Zero Coupon Bonds 8.95 9.24 .29 10 Year Zero Coupon Bonds 8.95 9.20 .25 5 Year Finance Co. Notes 9.60 9.70 .10 10 Year Finance Co. Notes 9.60 9.70 .10 GNMA Bonds 10.01 10.38 LONG TERM INTEREST RATES 20 Year Zero Coupon Bonds 8.80 9.07 .27 30 Year Treasury Bonds 8.75 9.00 .25 30 Year A-rated Industrial Bonds 9.80 9.90 .10 30 Year A-rated Utility Bonds 9.80 9.90 .10 SELECTED TAX EXEMPT NATIONAL MUNICIPAL BONDS 5 Year A-rated General Oblig 6.55 4.65 .10 Year Aa-rated Housing Rev 6.80 6.90 .10 10 Year A-rated General Oblig 6.70 4.80 .10 10 Year A-rated Hospital Rev 7.10 7.20 .10 10 Year Aa-rated Housing Rev 7.00 7.10 .10 20 Year A-rated General Oblig 7.10 7.20 .10 30 Year Aa-rated Housing Rev 7.55 7.70 .15 30 Year A-rated Hospital Rev 7.60 7.60 The above rates, gathered and supplied by Piper, Jaffray A Hopwood, Inc.

and Shearson Lehman Hutton are representative rates available to area Investors. Rates may vary according to locality, size of purchase and rating, and they do not reflect transaction charges, if any. The figures for investments with maturities shorter than a year reflect annualized equivalent rates of return; for investments with maturities longer than a year, the figures are annualized rates of return. Dr. Russell Emery of Bismarck has completed continuing medical education requirements for membership in the American Academy of Family Physicians', the national association of family doctors.

The Small Business Committee of the Bismarck Area Chamber of Commerce is accepting nominations for small businessperson of the year. Nominations are due at the chamber office June 2. Applicants are judged on six criteria, "a substantiated history as an established business." The nominee also should be shown to have increased sales or unit volume and have evidence of contributions to community-oriented projects. Donald Bitz of Job Service Credit Union in Bismarck, attended the CUNA Mutual Insurance Group's National Policyowners' Conference in Madison, Wis. LOWEST COMMUNICATIONS Making the most of your time: 1W WEST ConimunicatKXis..