Archive for July 2012
Phillips County E-Community has had some great success collaborating with multiple development organizations to help with financing new, succession and existing business projects with their Entrepreneurship Community Partnership loan. Over a period of a year, between June 2011 and 2012, a cumulative total of $130,878 E-community loan funds were used to help six businesses in the Phillips County area. These e-community dollars through the Phillips County E-Community loan program were used in conjunction with six (6) other financing avenues with corresponding matched funds: Phillips County Economic Development – Entrepreneurial Business and Enhancement ‘grant’ program ($131,953), NetWork Kansas – StartUp Kansas loan program ($112,369), Kansas Capital Multiplier Loan program ($15,000), Private Venture funding ($100,000), Local Bank loan financing ($263,600) and Business owner’s private funds invested ($127,000). The total cumulative cost for all the projects amounted to $880,800. These projects created ten (10) new jobs and helped preserve fifteen (15) existing jobs in the county during this same time frame. For a county with only 5650 residents, having 25 jobs (workers) positively impacted in the community shows the beneficial and cooperative points for the E-community program. Erik Pedersen, Network Kansas director, stated: “It is very exciting to see the creative and collaborative way the Phillips County Entrepreneurship (E-) Community team is working to provide financing which is enabling local businesses to start and expand. The jobs created and preserved will have a tremendous impact in Phillips County”.
Do you have problems with your old HVAC system keeping up with the heat and afraid you do not have enough money or credit to get a new economical and efficient system. Well, this proctive program through Midwest Energy may be something to look into. It covers more things than just HVAC systems — but that seems to be the most common use for it. This program started out as a program for residential homes and last year was expanded to include business establishments. It is a great way to update your systems and set up the loan through the utility company through your existing billing. They first will conduct an energy audit to give you and them some guideance as to what can or cannot be done through their program. There are guidelines and it does not fit EVERY situation, BUT it is definately a great program (tool) that can be used to upgrade your business as well as home.
If you are utilizing this program to make renovations/updates to a business and other improvements are going to be made, then this program can be used in conjunction with the overall improvement project to count toward your matching funds needed for the EBEP program. If you have questions, contact our office at 785-543-5809
Jeff Hofaker – PCED director – 7-18-2012