Background & Eligible Project
The Chase County E-Communities program was created through a Kansas Center for Entrepreneurship Tax Credit program in 2008. It is a cooperative effort between the Chase County Economic Development Committee and “Imagine Chase County” to encourage entrepreneurial activity in Chase County.
Qualifying entrepreneurial projects may include startup businesses, as well as existing business purchases and/or expansions. Two types of funding will be offered from the fund: grants and low-interest loans. Grants shall be reserved for those projects determined to have the greatest weighted cumulative score (see scoring criteria on page 4) and will primarily be reserved for projects that demonstrate a high likelihood of success. Loans with a very low interest rate are the more common funding mechanism.
The minimum loan request is $3,000 with a $45,000 maximum amount available per applicant business.
This application should be completed in full. The following list of items should also be considered for inclusion with the application; noting that additional consideration will be given to applicants that provide the maximum information.
• Anyone wishing to start, purchase or expand a business in Chase County
Use of Funds:
• Building or Land acquisition
• Working capital
• Site improvements
• Infrastructure improvements
• No penalty for early repayment
• Repayment period and interest rate will be decided on a case-by-case basis
Items to include with your application:
• A complete business plan, including sales and employment projections
• Financial reports and/or a bank financial application
• Resumes and references for the principals of the business
Applicants requiring assistance with completion of any part of this application or the recommended inclusions should contact one or more of the following local resources.
• Chase County Economic Development Committee
C/O City of Strong City
Shari DeWitt, City Clerk
P O Box 208, Strong City, KS 66869
• Chase County Chamber of Commerce –
318 Broadway Street
Cottonwood Falls, KS
Completed applications will be reviewed and scored by the E-Community Financial Review Board, and a formal interview will be scheduled with the applicant. In the formal interview, advisory board members will ask specific questions that pertain to the following criteria.
• Explanation of the applicants’ need for funding and how the funds will be used.
• Projected sales or sales growth, jobs retained or added, increased tax revenue, and/or community benefits.
• Funds provided by the entrepreneur (down payment) and any third party funding (banks, etc.)
• Local support for the project (i.e. letters of support)