Rural Development offers economic development financing
USDA Rural Development State Director Patty Clark announced that the Kansas Center for Entrepreneurship received funding to create jobs and support rural business development.
"USDA Rural Development supports regional economic development efforts that assist entrepreneurs in rural Kansas communities," stated USDA Rural Development State Director Patty Clark. "The Kansas Center for Entrepreneurship helps entrepreneurs across the state tap into financial and technical resources that can bring more jobs to rural Kansas."
The funding is being provided through USDA's Rural Community Development Initiative Program. It helps community-based development organizations, federally recognized Indian tribes and other groups promote economic growth in low-income, rural communities. Recipients are required to obtain matching funds, which increases the value of the grants.
USDA Rural Development will provide a $200,000 RCDI grant to the Kansas Center for Entrepreneurship for technical assistance and training in the following Kansas counties: Marion, Wichita, Greenwood, Greeley, Chase, and Norton. Assistance will include community and entrepreneur coaching, succession planning for businesses, and the education and recruitment of potential angel investors. The technical assistance will help to create new leadership capacity, capital creation, and increased connectivity to local, regional, state, and national resources.
"USDA's commitment to providing strategic technical assistance helps create a more entrepreneurial environment in rural Kansas communities," said Steve Radley, president and CEO of the Kansas Center for Entrepreneurship (NetWork Kansas). "Long-term strategies that include succession planning and an increase of additional capital structures are key components to creating an entrepreneurial environment."
Nationally 41 projects received RCDI funding, for a complete list of projects click here.
The Kansas Center for Entrepreneurship (d/b/a NetWork Kansas) works to establish entrepreneurship and small business as a priority for economic and community development in Kansas. The center strives to promote an entrepreneurial culture throughout the state by connecting entrepreneurs and small businesses to the expertise, education and economic resources they need. For more information contact Network Kansas at 877-521-8600, or visit the website at www.networkkansas.com/home.
USDA, through its Rural Development mission area, has an active portfolio of more than $170 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.