NetWork Kansas announced recently that it has awarded $457,250 in tax credits to nine Kansas Entrepreneurship (E-) Communities, enabling them to raise more than $600,000 to replenish local loan funds to be utilized by local businesses in their community.
The selected communities include McPherson County. The McPherson County E-Community Loan Program, a program of the McPherson Chamber of Commerce, was awarded additional funding. Businesses who have benefited from this funding source: include Mattress Haven, Brooklyn & Co., Bruno’s Woodfired Pizza, Knackies, Mower Medic, Little Caesars Pizza and Artistic Hair and Nail Salon (Lindsborg).
The awarded communities have participated in NetWork Kansas' innovative E-Community Partnership for at least one year and have actively used their previously awarded funds to loan to local businesses.
All of the communities selected to receive additional funding submitted partnership proposals in August as part of a competitive 2012 E-Community selection process before being recommended to the NetWork Kansas board of directors for approval by Director of E-Communities Erik Pedersen.
Since 2007, NetWork Kansas E-Communities have loaned or granted $2.1 million to businesses in their communities through this funding source and leveraged an additional $11.9 million dollars, for a total investment of $14 million into businesses in E-Communities. This funding has spurred the creation or retention of almost 551 jobs in these same communities and has immeasurable positive effects on the entrepreneurial ecosystems of these participating areas.
To learn more about the E-Community Partnership, contact Erik Pedersen, director of E-Communities, at 316-978-7310 or email@example.com