The City of Atchison’s E-Community Program is pleased to announce a new loan to 1400 Properties, LLC. The $60,000 in E-Community Loan proceeds will be used to undertake a renovation project of the Hundley Insurance building located on the northwest corner of 14th and Main. The E-Community funds are being utilized to complete extensive updates to the exterior of the building, while the matching funds from Exchange Bank & Trust are being utilized to construct two extended stay apartments on the second level of the building.
Since January of 2017, the Atchison E-Community Program has been offering gap financing loans for small business startups, expansions, and acquisitions. Everyday businesses like restaurants, professional services, retail stores, and contractors 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.
1400 Properties is the twenty third E-community loan processed by the City of Atchison. Those 23 loans total nearly $1.1 million in gap financing to support small business development in the Atchison community.
To learn more about the E-Community Program, contact Justin Pregont with the City of Atchison at firstname.lastname@example.org or 913-367-5506.
Photo: Dave and Stephanie Hundley
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