Atchison E-community Awarded $100,000 In Additional Funding; Two New Loans For Local Business Expansions Approved
Atchison, KS – The City of Atchison’s E-Community Program, which began offering loans for small business startups, expansions, and acquisitions earlier this year, has been awarded an additional $100,000 by NetWork Kansas to keep the loan funds flowing to small businesses in the Atchison community. This follows news that two additional loans have been approved through the program for small retail business expansionsin downtown Atchison.
Muddy River Guitars, owned by Scott and Elizabeth Weinmann, was approved for a $27,000 loan to purchase more inventory for the business. Muddy River Guitars plans to expand their retail music supply business in the space above 5th Street Mercantile (the old Nell Hill’s location).
The Hardware Store, owned by Derek and Kelly Franklin, was approved for a $27,800 loan to expand their offerings of special event related rental equipment, including tents, tables, chairs, dance floors, table games, and portable restrooms.
Both E-Community loans are coupled with loans from the Bank of Atchison in addition to personal investment to complete the full financing package.
“Atchison utilized their original funding faster than any E-community in the history of the program, making my job not only easy but valuable”, according to Shelley Paasch, Senior Product Manager with NetWork Kansas is happy to provide an additional $100,000 to keep funding small business startups, expansions, acquisitions, as well as assisting the growth of the entrepreneurial ecosystem in the Atchison community.”
Everyday businesses like restaurants, cleaning services, small manufacturers, daycare facilities, construction companies, retail stores, etc… can use this locally controlled, revolving loan fund as gap financing to make their small business dreams come true.
The funding for the E-Community Program is created through the sale of entrepreneurship tax credits, which are allocated to NetWork Kansas by the Kansas State Legislature.
To learn more about the E-Community Program, contact Justin Pregont with the City of Atchison at firstname.lastname@example.org or 913-367-5561.