Republic County joined the Entrepreneurship (E-) Community partnership with NetWork Kansas in 2014. This provided Republic County Economic Development (RCED) access to additional revolving loan funds, small business training, workshops, and the annual Youth Entrepreneurship Challenge (YEC) with Republic County and Pike Valley students.
RCED is promoting the 2020 tax credit opportunity to help raise additional gap financing loan funds for county businesses. To date Republic County Development (RCD) Revolving Loan Committee has loaned $401,995 of E-Community funds to 11 businesses in the county.
E-Community Loan Recipients 2014-2020
- Coles’ Appliance
- Geo W Hays and Sons (Belleville Hometown Lumber)
- BellCon Sanitation
- Central Plains Respiratory
- Kansas World’s Fair
- EST Automotive
- Cuba Cash Store
- Bethany Swafford Farm Bureau Financial Services
- Courtland Building Venture (301 Main Offices)
- David’s Creations
- Heartland Gamebirds
The RCD revolving loan committee reviews applications monthly. When funds are loaned out to a business and repaid it will be “revolved” again for the next county business loan. There are three pools of funding RCD has access to and E-Community has become a growing resource for gap financing business projects. For RCD revolving loan questions or an application contact secretary Kay Shoemaker at firstname.lastname@example.org.
The tax credits are valued at 75% of donations and offset state income tax liabilities for individuals or businesses. Republic County E-Community will receive 60% of the total donation. For tax credit questions contact Kristi Pedersen with NetWork Kansas at email@example.com or (316) 425-8808.
$1,333,33 donation = $1,000 tax credit ($1,333.33*.75=$1,000)
$1,333.33 donation = $800 revolving loan fund balance ($1,333.33*.60= $800)
A few things to remember:
1.) Donations must be postmarked by 12/31/2020 in order to qualify
2) $250 minimum amount – every donation regardless of size is appreciated
About NetWork Kansas:
NetWork Kansas was established as a component of the Kansas Economic Growth Act of 2004 to further entrepreneurship and small business growth as a priority for economic and community development in the State of Kansas. Backed by more than 500 partners statewide, the NetWork Kansas service promotes an entrepreneurial environment by connecting entrepreneurs and small business owners with the expertise, education and economic resources they need in order to succeed.
NetWork Kansas facilitates the development of an entrepreneurial ecosystem within participating communities through the E-Community Partnership. Contributing factors to successful development include availability of financial capital, support by local leadership and development of educational resources. All of these factors combine to increase entrepreneurial activity in participating towns, leading to increased startup activity, business expansion, job creation and more.
For more information about the Entrepreneurship (E-) Community Partnership, visit www.networkkansas.com/ecommunities , or call 877.521.8600.