E-Community program, including E(ntrepreneur)-Accelerator, in Douglas County, Kansas.
Entrepreneur Communities Loan Program
A NetWork Kansas E-Community has made a commitment to cultivating an entrepreneurial environment by identifying and developing resources to help local entrepreneurs start or grow businesses. Selected communities partner with NetWork Kansas to establish a locally-administered loan fund to assist entrepreneurs with capital, to increase connectivity to resources available to assist entrepreneurs and small businesses, to initiate activities to generate entrepreneurial development, and to participate in a statewide partnership with other E-Communities.
The NetWork Kansas Entrepreneurship Community (E-Community) program is geared towards identifying and developing resources to assist local entrepreneurs in starting or growing a business. The goals of the E-Community partnership are to:
- Grow a flourishing, sustainable entrepreneurial environment supportive of business startups and expansions;
- Engage and/or develop entrepreneurial resources to meet identified community and business needs;
- Create a revolving loan fund to provide matching loans to entrepreneurs and small businesses with local control of decisions and terms.
One of the resources that an E-Community offers is a locally administered revolving loan fund used to provide gap financing to entrepreneurs within the E-Community. Gap financing is used when the combination of available bank loans and an entrepreneur’s personal savings fall short of the amount of money needed to start or grow a business. The “gap” refers to the difference between the available amount and the amount needed for the project. Gap financing is approved to be spent on the purchase of land, the purchase of real estate, the purchase of business inventory, the purchase of business equipment, and working capital. Generally, the following are not approved uses: paying off or refinancing existing debt, salary or owners draw, payroll taxes, and building renovation not tied to a specific business.
The following resources are also offered by NetWork Kansas through the E-Community program:
- Priority access to NetWork Kansas opportunities for youth entrepreneurship, networking, funding, high-powered technical assistance for second-stage businesses, and more;
- The opportunity to attend a statewide conference to participate in peer-to-peer discussion with other E-Communities focused on developing strong entrepreneurial environments;
- Materials and support for fostering the E-Community, including marketing materials, training opportunities, leadership team guidance, and more;
- Opportunities to engage with entrepreneurship experts for consulting including Kansas Entrepreneurial Communities Initiative (KECI) representatives and the national economic gardening team.
The Douglas County E-Community is comprised of Douglas County, Baldwin City, the City of Eudora, and the City of Lecompton. The initiative was formed in 2011, with the first loans being made in 2012. To date, 7 projects have been funded.
Youth Entrepreneurship Challenge
Visit the Youth Entrepreneurship Challenge (YEC) page.
E(ntrepreneur)-Accelerator is a 15 to 18-month program that started in January 2015. It is developed by Advancing Rural Prosperity, Inc. (ARPI) and offered through NetWork Kansas (parent organization of the Douglas County E-Community) that aims to strengthen the relationship between local entrepreneurs in rural Kansas and the communities in which they are located. In Douglas County, E-Accelerator is a continuation of the work of the Douglas County E-Community and so is being facilitated in the towns of Baldwin City, Eudora, and Lecompton, the same members of the E-Community.
The goals of the E-Accelerator program are to:
- Identify the needs of the community’s entrepreneurs and the resources available to meet those needs;
- Designate an invested community member to serve as the ongoing "coach" for the community’s entrepreneurs to act as a conduit for entrepreneurs to learn about and access the available resources; and
- Create and implement strategies tailored to the needs of the community’s entrepreneurs.
One of the unique aspects of E-Accelerator is its focus on bringing together stakeholders from all across the community to support its own local businesses and business owners; these stakeholders include:
- Local business owners, themselves;
- Community groups;
- Invested residents; and
- County and state-wide economic development professionals and investors.
Downloads and Contact Us
For more information, please download the 2016 E-Community Status Report (PDF format). You can also download the E-Community Loan Fund Application Packet (PDF format).
To get involved or for more information, please contact email@example.com or call 785-330-2890.
To get involved or for more information regarding the Lawrence Metro E-Community, please contact the Lawrence Chamber of Commerce at 785-865-4427.