Regional & State Assistance/Incentives
Southeast Kansas Regional Planning Commission
The Southeast Kansas Regional Planning Commission Revolving Loan Fund (RLF) was developed to provide gap financing for businesses in our region. The SEKRPC region includes the following counties:
Types of Business Finance could include: land, building, machinery, equipment, inventory and working capital. This program is a locally administered program of the U.S. Economic Development Administration (EDA).
Southeast Kansas Prosperity Foundation
The Southeast Kansas Prosperity Foundation is a non-profit 501(c)3 created in 2005 as a result of the Kansas Economic Growth Act. It is a partnership with SEK, Inc., Southeast Kansas Regional Planning Commission, See-Kan RC&D, QUAD Facilitation Program, and Mid-America Certified Development Company.
The Revolving Loan Program
The revolving loan program is for both existing and start-up businesses in the Southeast Kansas region. It is designed to partner with local and regional financial institutions to provide access to capital.
- Maximum loan amount of $50,000
- Uses of funds include infrastructure improvements, land acquisition, building construction/renovation, equipment, inventory, payroll and other working capital items
- Must be leveraged with other lending partners, typically local banks, SBA, USDA and local micro-lending resources
- Owner equity required
- Fixed interest rate generally capped at 3% over New York prime
Small Community: Downtown Retail Building Renovation/Purchase Program
The Downtown Retail Building/Purchase Program is designed to help rural communities keep existing downtown buildings in use. Many communities have buildings that are unused because of their current condition or uninvolved ownership. The Foundation will work with local parties who want to refurbish/construct buildings in commercial/retail districts. The Foundation reviews requests from local groups to provide either equity or loans as part of the financing necessary to return the building to use.
- Funding for any project is limited to $40,000 but cannot exceed 130% of county appraised value for the building
- 80% loan, 20% grant (grant funds disbursed on a reimbursement basis)
- $200 non-refundable application fee to offset building inspection costs
- Must have rehab plan and business plan
- Must create or retain minimum of one job
Network Kansas is devoted to the growth of entrepreneurship and small businesses throughout the state of Kansas. Our mission is to promote an entrepreneurial environment by providing a central portal that connects entrepreneurs and small business owners with the right resources - Expertise, Education and Economic Resources - when they are needed most. In pursuit of this mission, we partner with well-respected business development organizations and educational institutions that work with entrepreneurs and small business owners who have the vision and potential to succeed. The result is a seamless system that accelerates economic and community development in Kansas.
StartUp Kansas is a program that provides matching funds through its partner network to entrepreneurs and small businesses in rural and distressed Kansas communities, and to under-served populations.
Kansas Capital Multiplier Loan Fund
Under the Kansas Capital Multiplier Loan Fund, businesses can apply for matching loans up to 9% of the private capital invested. Private capital invested includes the amount of the loans provided by financial institutions, certified development companies and other sources of private lending. Private capital also includes the entrepreneurs’ investment and funds provided by angel investors and angel investor groups. The minimum loan from the Kansas Capital Multiplier Loan Fund is $25,000, with a maximum loan of $100,000.
The Minority and Women Business Multiplier Loan Fund
The MWB provides gap financing to help minority and women-owned businesses (MBE/WBE) and other disadvantaged business enterprises (DBE). Funds are flexible and can be used for a variety of purposes, including equipment, inventory, and working capital. Entrepreneurs work with a NetWork Kansas resource partner to apply for funds.
The Kansas Economic Gardening Network
Selected businesses interact with an experienced national economic gardening team who deliver economic gardening services (PDF) tailored to meet the needs of each business. Examples of economic gardening services include GIS, market research, SEO tools, social media monitoring, and sales lead generation.
Kansas Department of Commerce
Popular programs include:
- High Performance Incentive Program (HPIP)
- Kansas Industrial Training (KIT)
- Kansas Industrial Retraining (KIR)
- Promoting Employment Across Kansas (PEAK) Program
- STAR Bonds
USDA Rural Development Programs
USDA offers loans, grants and loan guarantees to support essential services such as housing, economic development, health care, first responder services and equipment, and water, electric and communications infrastructure. USDA also promotes economic development by supporting loans to businesses through banks, credit unions and community-managed lending pools. USDA offers technical assistance and information to help agricultural producers and cooperatives get started and improve the effectiveness of their operations. USDA provides technical assistance to help communities undertake community empowerment programs. They help rural residents buy or rent safe, affordable housing and make health and safety repairs to their homes.
Small Business Administration
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.
Southeast KansasWorks provides workforce solutions to help keep businesses operating and thriving - whether it’s on the climb to success, during changing economic conditions or assisting in a merger or company restructuring.