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”.
Posted 7-26-2012
Jeff Hofaker


