The McPherson County Entrepreneurship Community Loan Program was created through the Kansas Center for Entrepreneurship Tax Credit Program and Network Kansas. The program is administered by the McPherson Chamber of Commerce to encourage entrepreneurial activity in the communities of McPherson County.
A Few Quick Facts
- Qualifying entrepreneurial projects may include startup businesses, existing business purchases and/or expansions in McPherson County.
- Must be a member of the McPherson Chamber of Commerce.
- Funding is provided at 4% for 1–5-year loans, and 6% for loan terms of 6-10 years. Length will be determined by amount borrowed. No penalty for early repayment.
- The minimum loan request is $5,000 and maximum is $50,000 for eCommunity funding, or up to 1,000,000 for GrowKS funding.
- These funds are for “gap financing” and eCommunity Loans cannot exceed 40% of the total funding package. To utilize the maximum 40% available from the eCommunity Loan Fund there is a 60% match required from either a bank, or a Network Kansas Fund Partner (SBA, USDA, Main Street, South Central Kansas Economic Development Division (SCKEDD). The GrowKS Loan requires that the fund partner is a bank.
- Funds can be used to purchase business equipment, business inventory, real estate, working capital, existing inventory.
- Loan funds may not be used for: Paying off or refinancing existing debt, Salary or owner’s draw, Payroll taxes, Personal vehicles.
- Preference will be given to projects that create quality jobs, increase economic benefits, and improve property values and design.
- Businesses That Do Not Qualify: Non-profit organizations, academic institutions,
Gambling concern, floor planning concerns (i.e. wholesale auto inventory financing), speculative concerns, lending or investment institutions, multilevel marketing or pyramid sales. NOTE: Non-Profits DO qualify for GrowKS Loans.
- Applicants who are not eligible: convicted of felony offense, past due on school loans, past due on child support payments.
- Scoring will be based on Financial Soundness, Owner/Operator Experience, Business Plan, Projected Growth & Economic Impact
Business Development Partnerships, Quality of Life Impact, Owner/3rd Party Funding, Community Commitment.
McPherson County E-Community
Loan Application Process
- Applicants will be required to complete the Network Kansas Loan Application 7.2025 and return to the McPherson Chamber of Commerce office, 306 N. Main along with their $50 non-refundable application fee E-Community Loan Check List 7.2025
- Upon receipt of an eCommunity Application, the eCommunity Team will schedule a meeting with the applicant, to review the project and loan request.
- After reviewing the application, the eCommunity Team will approve or reject request for funds based on financial soundness. A formal letter of acceptance or rejection will be sent to the applicant notifying of decision.
- An eLoan Team media release will be created announcing acceptance of applicant and will include a summary of the business, amount to be awarded, funding partners, Network Kansas partners assisting with project, and description of how funds will be utilized to add resources, jobs, increase tax revenue, and/or improve the quality of life in the McPherson County area.
- The business is required to be a member of the McPherson Chamber of Commerce for the duration of the loan.
- As of July 1, 2025, interest rates are structured as 4% if the loan is 5 years or less, and 6% for loans of 6-10 years. Complete application & detailed information is available for download here: Network Kansas Loan Application 7.2025 or by calling the McPherson Chamber of Commerce at 241-3303.
The McPherson County Small Business Development Association is available to assist loan applicants at no charge in preparing a Business Plan, and any other necessary documentation to accompany your eLoan application. Contact David O’Dell at 620-480-9137 to set up an appointment.
McPherson County E-Community Economic Development Vision Goal: Continue to support the collaborative business environment and provide resources to encourage entrepreneurship and expansion of existing businesses.
GrowKS Loan Program
GrowKS Loans are funded by the U.S. Department of the Treasury’s State Small Business Credit Initiative. The programs are overseen by the Kansas Department of Commerce and Network Kansas and offers a variety of match amounts of up to $100,000+.Providing pathways for inclusive lending to help make matching capital accessible to underrepresented entrepreneurs.
FUNDING MAY BE USED FOR A VARIETY OF BUSINESS PURPOSES INCLUDING:
- Startup costs, Working capital, Franchise fees, Acquisition of equipment, Inventory, Services used in the production, manufacturing, or delivery of a business’s goods or services, Services used in the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes, Among other approved uses. Among other approved uses
TERMS
- 4 percent interest rate for one-year to five-year loans
- 6 percent interest rate for six-year to ten-year loans
Visit GrowKS Loan Program FAQ or contact the the McPherson Chamber of Commerce at 620-241-3303.
