Incentives

Coffey County Economic Development (CCED) works collaboratively to provide competitive incentive packages and resources for companies interested in relocating or expanding in Coffey County.

All incentives are subject to the company meeting the eligibility for the program and approval from the governing body of the organization having jurisdiction over that incentive.

Examples of possible incentives provided by CCED include:

• Affordable land
• Bond issuance
• Assistance with infrastructure
• Reduced taxes or tax abatements
• Utility assistance
• Relocation grants
• Revolving Loan Program

Coffey County Business Resource Guide

Coffey County Revolving Loan Program

The CCED Revolving Loan Fund currently has funds available for business loans to qualifying Coffey County small businesses. This program is designed to assist those businesses who have had difficulty obtaining financing from conventional lenders.

Guidelines have been updated as of January 2018, you can learn more about the changes in this press release.

Guidelines and Eligibility

Project Source and Use Form

Credit Report Authorization

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Regional and 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 Allen, Anderson, Bourbon, Cherokee, Coffey, Crawford, Linn, Labette, Montgomery, Neosho, Wilson and Woodson 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

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

  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 underserved 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 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

The Kansas Department of Commerce has many services and programming to assist existing businesses and attract new business. A few of the popular programs include: High Performance Incentive Program (HPIP), Kansas Industrial Training (KIT), Kansas Industrial Retraining (KIR), Promoting Employment Across Kansas (PEAK) Program, and 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

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.