Cowley First offers to sources of funding for Cowley County businesses loans: E-Community and Revolving Loan Fund.
The Revolving Loan Fund (RLF) is for small business loans, generally ranging from $3,000 – $8,000. These can be for purchase of equipment, upgrades, renovations or special business projects. A business plan is needed with the application, as well as a financial plan to show repayment.
The Cowley County E-Community loan fund was established through 2007 Kansas Entrepreneurship Tax Credits awarded to Cowley First by the Kansas Center for Entrepreneurship (dba NetWork Kansas).
Funds may be used as seed capital for a new business startup or the expansion or restructuring of an existing business. Businesses may request up to $45,000 from the Cowley County E-Community Loan Program. In addition to the Cowley County E-Community Loan Program funds, each business will also be required to obtain approval for a 40% matching loan from another NetWork Kansas eligible partner or other lender as a requirement of NetWork Kansas and the Kansas Center for Entrepreneurship.
Preference will be given to projects that create quality jobs paying above the average wage for Cowley County, or those that will have an increased economic benefit to the county through increased employment, sales, tax base, and diversification of the economy by businesses that sell goods outside of Cowley County, thereby introducing additional flow of commerce into the local economy.
Cowley County E-Community Fund applicants will complete the SCKEDD Loan Application (SCKEDD-South Central Kansas Economic Development District). In addition, applicants will be asked to submit a business plan with three year financial and job projections and other supporting documents as required. The application can be obtained at www.sckedd.org. If the applicant is purchasing an existing business, the previous three year’s financial statements must be submitted along with all of the above. Upon submission of the required application, business plan and any other documents requested, SCKEDD will work with the Cowley County E-Community Board for final review.
Applications will be reviewed by the Board on the following criteria:
Scores will be based on overall score on a 1 to 10 scale, with 10 being the highest and 1 the lowest based on the applications ability to successfully meet criteria. The average total score will be calculated will be determined on the project by the E-Community Board.
Applicants with questions or who require assistance with completion of any part of the application, contact us:
Cowley County Courthouse
311 E. 9th
Winfield, KS 67156
Contact us by E-Mail
Winfield: (620) 221-9951
Arkansas City: (620) 442-3094