Disadvantaged Populations

StartUp Kansas provides gap financing to help entrepreneurs start or grow a business in Kansas. The loan program matches other public sources of capital and can provide up to $45,000 per project.

Funds are flexible and can be used for a variety of purposes, including equipment, inventory, and working capital. Entrepreneurs work with a NetWork Kansas resource partner to apply for funds. A streamlined application process means that businesses get the funds they need quickly

 

Until recently, StartUp Kansas funds were only available to businesses in rural areas (less than 50K pop) and distressed areas of an urban city. This criteria has been recently expanded to include businesses located in an urban area that benefit a disadvantaged and/or underserved population, demonstrated in any of the following ways:

  • Location: The business is located in an urban area with significant levels of distress by income (i.e. Shawnee County, Wyandotte County). Distressed is defined by the US Census Bureau as an area where 20% or more of the population is living below the poverty level.

  • Low Income Employees: The business currently employs or will employ low income workers

  • Disadvantaged Status: The business owner and/or employees are from disadvantaged populations based on race/ethnicity, gender, and/or veteran’s status. This includes businesses with Women Business Enterprise (WBE), Minority Business Enterprise (MBE), and Disadvantaged Business Enterprise (DBE) certifications provided by the Department of Commerce.

  • Products/Services: Business supports disadvantaged and/or under-served populations with products/services.

  • Mission: The mission of either the applying partner or the business seeking funding is to serve disadvantaged and/or underserved populations.

 Eligible Businesses

The program is available to for-profit businesses located in urban areas of Kansas meeting the criteria outlined above. Funds could be awarded to service businesses, manufacturing companies, restaurants, medical offices, retail stores, and many others

 StartUp Kansas Terms

 
 
 
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Funds can match up to 150% of the partner contribution, with up to $45,000 available per project

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Funds are flexible and can be used for a variety of business purposes, including equipment, inventory, and working capital

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Flexible and attractive loan terms that can match partner terms

 To Apply for a Startup Kansas Loan

  1. Contact NetWork Kansas to begin working with an appropriate resource partner who will identify source(s) of matching capital for your loan.

  2. Applications are submitted by NetWork Kansas resource partners on behalf of the entrepreneur. The entrepreneur and partner will work together to assemble any necessary documents (such as a business plan) and submit a completed application.

  3. Applications are reviewed monthly. The loan committee reviews and selects businesses for funding based on the business’s potential to be an economic driver and/or the business’s benefit to the community.

“Statistically, women and minorities start businesses at 1.5 times the general population. Yet, these businesses are often under-represented when it comes to access to capital outside of their personal assets. It’s great to see that NetWork Kansas has recognized this challenge and expanded their funding criteria to help these businesses succeed.”

— Brande Stitt, Program Director Women’s Business Center

Additional Info

For additional information about how to apply or to be connected with a resource partner, contact NetWork Kansas at (877) 521-8600. More information is available online at www.networkkansas.com.

 

NetWork Kansas resource partners should contact Jamie Hofling directly with any questions by calling (785) 296-0383.