Cowley First offers to sources of funding for Cowley County businesses loans: E-Community and Revolving Loan Fund.
Revolving Loan Fund (RLF) funds are 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. Application requirements are a completed business plan detailing need and use of funds along with a 3-year cash flow projection, utilizing the scoring criteria outlined below. Consulting services are available from Cowley First at no charge and template are provided with one-on-one assistance to complete the application process.
The Cowley County E-Community loan fund was established in 2007 though 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 requires applicants to be working with a local lender. The application assembled by the lender may also serve as the application for the E-Community matching funds. We will work in partnership with you and your lender to provide the required information. Applications will require a completed business plan detailing need and use of funds along with a 3-year cash flow projection, utilizing the scoring criteria outlined below. Consulting services are available from Cowley First at no charge and template are provided with one-on-one assistance to complete the application process.
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:
311 E. 9th
Winfield, KS 67156
Contact us by E-Mail
Winfield: (620) 221-9951
Arkansas City: (620) 442-3094