Entrepreneurship (E-) Communities
A NetWork Kansas E-Community is a partnership that allows a town, a
cluster of towns, or an entire county to raise seed money for local
entrepreneurs through donations from individuals or businesses within
the community. Selected communities partner with NetWork Kansas to
establish their own local loan fund, increase connectivity to
resources available to assist entrepreneurs and small businesses,
initiate activities to generate entrepreneurial development, and
participate in a statewide partnership with other E-Communities. The
goal of the E-Community partnership is to increase entrepreneurial
activity and develop a self-sustaining ecosystem favorable to
long-term entrepreneurial growth.
The E-Community program has grown from six communities in 2007 to thirty in 2011. During the first five years of the E-Community partnership, more than $6.1 million have been raised. These funds are estimated to generate more than $35.3 million of investment in rural businesses across Kansas.
Benefits of Being an Entrepreneurship Community
- Gain access to NetWork Kansas Entrepreneurship Tax Credits to raise money for a local revolving loan fund that will be specifically used to provide matching loans to entrepreneurs and small businesses in the community.
- Work with NetWork Kansas and other E-Communities to implement entrepreneurial development activities including educational courses, youth entrepreneurship activities, leadership development, and more.
- Attend a statewide conference to participate in peer-to-peer discussion with other E-Communities focused on developing strong entrepreneurial environments.
- Identify and foster deeper strategic relationships with the resources in your community that help entrepreneurs and small businesses start, expand, and obtain funding.
- Foster business startups and expansions in your community.
Applying for the NetWork Kansas Entrepreneurship Community Partnership
New Entrepreneurship Communities are selected annually. The
competitive round typically opens in May and closes by mid-August. A
detailed written application and in-person interview will be required.
Interested communities should have initiated a relationship with
NetWork Kansas prior to applying.
Application Requirements
- The establishment of a local leadership team to provide the overall direction and leadership for the E-Community. The team should meet monthly to discuss the progress of the E-Community, methods to promote and utilize the E-Community fund, identification of key stakeholder groups and how to engage them, as well as proactively reach out to other E-Communities to discuss best practices.
- The establishment of a local financial review board to review applications and approve/disapprove loans to local entrepreneurs and small businesses, as well as determine interest rate, length of term and security position (or choice to be unsecured) for each approved application.
- The identification of an organization responsible for administrating and servicing the loans. This organization will prepare the loan documents, close the loans, prepare UCC or mortgage filings, collect loan repayment checks from the business, forward those payments to NetWork Kansas to be deposited back into the E-Community account, and communicate with the business regarding late payments.
To learn more about the E-Community Partnership, call Erik Pedersen, Director of E-Communities, at 316-978-7310 to schedule a community visit to learn more about how to prepare for the next application round.