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MASON CITY | Legacy Financial Services Inc. of Mason City is one of the 26 businesses selected to continue on to the next round of the John Pappajohn Business Plan Competition.

Of the 50 businesses submitting executive summaries, 26 have been selected to submit full business plans to be reviewed by judges.

Of these competitors, seven to 10 will be chosen as finalists and invited to present to a panel of judges. Based on the presentations, the judges will select the three winners who will be recognized at a special awards luncheon Sept. 18 in Des Moines.

Legacy Financial Services Inc. was founded by Brian and Sarah Novacek of Mason City. They currently have an office in the North Iowa Area Community College Business Incubator.

Legacy Financial Services Inc. is a freight factoring company and has been in business for just over two years.

Freight factoring is a process whereby a company purchases invoices and clean bills of lading at a discount. The factoring company then funds the carriers for the invoices purchased less the fee.

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