What is an E-Community? A NetWork Kansas Entrepreneurship Community has made a commitment to cultivating an entrepreneurial environment by identifying and developing resources to help local entrepreneurs start or grow businesses. E-Communities have assets available to assist entrepreneurs and small businesses, including a locally administered revolving loan fund and connections to resources.
Goals of the E-Community Partnership
- Grow a flourishing, sustainable entrepreneurial environment supportive of business startups and expansions
- Engage and/or develop entrepreneurial resources to meet identified community and business needs
- Create a revolving loan fund to provide matching loans to entrepreneurs and small businesses with local control of decisions and terms
Humboldt E-Community Dream Humboldt established the Humboldt Business Action Team in response to goals set during a community conversation. Through thorough assessment of business needs and resources available for business growth, the team developed a strategy to promote entrepreneurial growth. The Team partnered with Kansas Entrepreneurial Communities Initiative to create a business coaching environment.
The Humboldt E-Community program was created through a Kansas Center for Entrepreneurship Tax Credit Program in 2013. Humboldt E-Community will utilize the funds to develop entrepreneurial activity in the Humboldt USD #258 area. The goal is to create an entrepreneurial environment that fosters growth and prosperity.
Eligible projects include start-up businesses, business transfers of ownership, or existing business expansions. Low interest loans will be offered through the fund.
How the E-Community Fund Works Let’s assume an applicant needs a total of $60,000 to do their project. Also, assume the applicant has $10,000 of their own capital. Of the remaining $50,000 needed, the E-Community can provide no greater than 60% of that gap (with a maximum of $45,000). The other 40% minimum must come from a financial institution and/or a local or regional funding source, such as the Wichita County Economic Development Revolving Loan Fund. Members of the E-Community team can help entrepreneurs and small business owners locate and work with those partners to provide the matching amount.
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