$28,900 in tax credits available in county

Republic County Economic Development has been awarded $28,900 in tax credits from a state program to add to the revolving loan fund pool.

RCED has raised over $300,000 for the revolving loan fund through tax credits and grants from NetWork Kansas while approving six loans totaling $219,145 since 2014, says RCED director Luke Mahin.

Republic County became an Entrepreneur (E-) Community with NetWork Kansas in 2014. This provided the county with entrepreneurship programs like the Youth Entrepreneurship Challenge, business training resources like the free business classes, and revolving loan funding.

The county revolving loan committee reviews applications monthly from small businesses. When funds are loaned out to a business it is repaid and “revolved” again for the next county business loan.

The tax credits are valued at 75% of donations and offset state income tax liabilities for individuals or businesses. For tax credit questions contact Kristi Pedersen with NetWork Kansas at kpedersen@networkkansas.com or (316) 425-8808.

Those interested in purchasing tax credits e-mail rced@nckcn.com or call 785-374-3047 to reserve an amount. Deadline is Friday, December 8th, 2017.

 

Republic County E-Community Business Loans

Six loans totaling $219,145

2014 

  • BellCon Sanitation
  • Belleville Hometown Lumber

2015

  • Central Plains Respiratory

2016

  • EST Automotive
  • Kansas World’s Fair
  • Cuba Cash Store

 

Learn more about E-Communities here – www.networkkansas.com/ecommunities/e/overview