The Wichita County E-Community program was created through a Kansas Center for Entrepreneurship Tax Credit Program in 2012. It is a project of the Wichita County Economic Development office to develop entrepreneurial activity in Wichita County, including the cities of Leoti and Marienthal. The mission of the Wichita County E-Community is creating an entrepreneurial environment that fosters growth and prosperity.
Eligible projects include start-up businesses, business transfers of ownership, or existing business expansions. Low interest loans will be offered through the fund. Loans with a low interest rate are, by far, the most common funding tool.
How the E-Community Fund Works
Let’s assume an applicant needs a total of $60,000 to do their project. Also, assume the applicant has $10,000 of their own capital. Of the remaining $50,000 needed, the E-Community can provide no greater than 60% of that gap (with a maximum of $45,000). The other 40% minimum must come from a financial institution and/or a local or regional funding source, such as the Wichita County Economic Development Revolving Loan Fund. Members of the E-Community team can help entrepreneurs and small business owners locate and work with those partners to provide the matching amount.
The application paperwork can be found here.
Network Kansas E-Community Summary
A NetWork Kansas Entrepreneurship Community has made a commitment to cultivating an entrepreneurial environment by identifying and developing resources to help local entrepreneurs start or grow businesses. E-Communities have assets available to assist entrepreneurs and small businesses, including a locally administered revolving loan fund and connections to resources.
For more information:
Contact: Diana Kirk
Wichita County Economic Development, Inc
106 W. Broadway, PO Box 345
Leoti, KS 67861