During the summer of 2019, a coalition of community and business leaders applied for and were selected to become one of the state's newest E-Communities.
What does that mean?
With the support of the county commissioners, members of the advisory board they appoint for economic development are now leading a coalition of people focused specifically on helping new and second stage businesses. As a partnership NetWork Kansas, the group will facilitate a locally-controlled revolving loan fund to supply entrepreneurs with capital. They will also now have increased access and limited funding for training and technical support.
Why apply for an E-Community loan?
Miami County is in the process of finalizing its loan process and lending criteria. This is expected to be in place by year end.
E-Community loans can be used for startup costs, expansion of an existing business, working capital, inventory and more. The loans are paired with an investment from a local lender along with a personal investment from the business.
- Must be used by a for-profit business
- Must obtain required matching funds
- E-Community funding cannot exceed 60% of the total funding package
How do I apply for a loan?
Entrepreneurs interested in applying for funds will work with a local E-Community Leadership Team to connect with startup and developmental business resources, complete an application for funding, and coordinate the other elements of the funding package (bank loans, etc.). Whether an entrepreneur needs help finishing a business plan or filling out a loan application, the resources offered by the Miami County E-Community team can connect them to resources for assistance.
How can I get involved in the educational opportunities?
NetWork Kansas Board Certified Programs are designed to generate entrepreneurial activity in a community. Members of the local group are reviewing existing efforts to see what might be the best match for Miami County. A full list of Network Kansas Board Certified Programs can be found here.