The Rooks County eCommunities program was created through a Kansas Center for Entrepreneurship Tax Credit Program in 2015. It is a project instituted through the Rooks County Economic Development (RCED) office and administrated through Network Kansas to encourage and develop entrepreneurial activity within Rooks County.
Eligible projects include startup businesses, business transfers of ownership, or existing business expansions.
Low-interest loans and community development grants will be offered through the fund. Loans with a low interest rate are the most common funding tool.
The Network Kansas website gives details of the various loan programs that are available through your local eCommunity. Start there for more information.
Assume the applicant needs a total of $60,000. Of the $60,000, the eCommunity can provide no more than 60% (with a maximum of $50,000 total loan to any applicant). The eCommunity cannot provide funding without a funding partner or combination of funding partners such as a financial institution or community funding source (i.e. local banks, utility loan fund, Pioneer Country Development Inc.) Members of the eCommunity team can help entrepreneurs and small business owners locate and work with those Network Kansas partners to assist in providing the matching amount.
Applicants are required to complete the attached application in full. Applicants are also encouraged to consider including the following documents for the eCommunities Financial Committee in order to have a more thorough understanding of the business project:
Applications will be reviewed and scored by the Rooks County eCommunities Financial Committee. A formal interview will be arranged with the applicant during a regular meeting. Applicants should expect specific questions pertaining to the following criteria:
The Rooks County eCommunities Financial Committee is charged with making decisions in regard to the applications and funding. The eCommunities Financial Committee will review on-time and complete applications. Once an applicant receives preliminary approval from the local Rooks County eCommunities Financial Committee, the project paperwork will be given to Network Kansas for approval.
Applicants who have been denied funding will be provided a list of comments and recommendations that can be addressed. Revised applications may be submitted to the review board after 30 days from the initial presentation of the application.
Network Kansas will provide administrative support to the Rooks County eCommunities Fund Program and will supply
Initial information about the business will also be provided. Per requirement by the eCommunities program, information regarding all businesses that access the eCommunities Fund will be tracked using the Network Kansas Business Trakker software database. Semi-annual follow-up can be expected by a Network Kansas Counselor.
