COVID-19 Revolving Loan Funds – Rooks County

Public Hearing Notice
Economic Development Applications

The County of Rooks is posting this notice for the purpose of considering
applications to be submitted to county funds under our CDBG Local
Revolving Loan Fund for the effects of COVID 19 on local businesses.
The funds will be used for working capital such as: salaries, wages, inventory, utilities, rent, insurance payments, etc. , and must retain LMI jobs. The estimated fund amounts available will be $48,000.00.


Rooks County CDBG Revolving Loan
Business Stimulus Criteria

Kansas Department of Commerce CDBG Program is encouraging immediate use of our Revolving Loan Fund monies to support the working capital needs of businesses in Rooks County. Apply online by emailing the forms to roger@rookscounty.net.

Terms:

  1. Loans must be used for working capital. This is defined as staff salaries and wages, purchase of inventory, utilities, rent, insurance payments, etc.
  2. Business must have at least one full-time equivalent Low/Moderate Income (LMI) employee and 51% of all jobs retained must be LMI. Owners are not counted as employees. Part-time employees can add up to this full-time equivalent.
  3. Loans are to stimulate JOB RETENTION, not new hires. State LMI Job Certification forms are required on all retained employees. Make copies as needed.
  4. A letter from the company/business must be attached attesting that the company is either shut down or will be shut down due to COVID-19.
  5. No collateral necessary; no matching funds necessary.
  6. Loan terms are up to 3 years repayment, 0% interest, with no principal payments for 1st 4 months.
  7. Proof of payment by copies of invoices, receipts, payroll must be supplied. No old outstanding debts qualify.
  8. Business cannot have outstanding State or County tax obligations.
  9. Fund availability begins March 30, 2020. Awards will be made by check from the Rooks County Commissioners. $3,000 per business limit at this time.

Loan Documents

Download the application and refer to the additional documents on guidance.
Emergency Response Loan Application

Job Certifications for Economic Development Projects – Rooks
Job Certifications for Economic Development Projects – definitions

  • Please fill out a Job Certification Form for each employee being retained.
  • Please mark in the top section under “Project #” if the employee is 1/2 time, 3/4 time, etc.

RETURN APPLICATION AND EMPLOYEE CERTIFICATION FORM TO: roger@rookscounty.net or by mail to: Rooks Co. Economic Dev., 115 N. Walnut, Stockton, KS  67669.   Fax only if necessary to 785-425-6881.