By Justin Pregont, Interim City Manager, City of Atchison
Reprinted with permission
E-Community Program Crosses $1.25 Million in Small Business Lending
In just over four years of operation the Atchison E-Community Program has now closed 27 loans totaling just over $1,250,000 for local small businesses.
Since January of 2017, the Atchison E-Community Program has been offering gap financing loans for small business startups, expansions, and acquisitions. Everyday businesses like laundromats, coffee shops, contractors and hair salons can use this locally controlled, revolving loan fund as gap financing to make their small business dreams come true.
According to Justin Pregont, Interim City Manager, this program has been successful for three reasons. First, this community has a willing group of small business owners and entrepreneurs who are out here taking risks in providing services and goods to the Atchison market and beyond. Second, we have community minded banks that have willingly invested their resources into establishing, maintaining, and marketing this program. Third, NetWork Kansas understands boots-on-the-ground, rural community development efforts better than any other organization Ive worked with. Their commitment to fostering a culture of entrepreneurship with their partner communities is unparalleled.
The funding for the E-Community Program is created through the annual sale of entrepreneurship tax credits, which are allocated to NetWork Kansas by the Kansas State Legislature.
To learn more about the E-Community Program, contact Justin Pregont with the City of Atchison at [email protected] or 913-367-5506.
This article was originally printed here: https://cityofatchison.com/news/e-community-program-crosses-1-25-million-in-small-business-lending/
About NetWork Kansas:
NetWork Kansas, a 501c3 nonprofit organization, is dedicated to making entrepreneurship a priority for economic and community development in the State of Kansas. NetWork Kansas connects aspiring entrepreneurs, emerging and established businesses, to a deep network of business-building and community development resource organizations across the state. NetWork Kansas is also the home of e2 Entrepreneurial Ecosystems (e2). e2 provides best practice solutions to entrepreneurial ecosystem building in Kansas and nationally.
NetWork Kansas facilitates the development of an entrepreneurial ecosystem within participating communities through the E-Community Partnership. Contributing factors to successful development include availability of financial capital, support by local leadership and development of educational resources. All of these factors combine to increase entrepreneurial activity in participating towns, leading to increased startup activity, business expansion, job creation and more. For more information about NetWork Kansas, visit www.networkkansas.com or call 877.521.8600.