COVID-19 Revolving Loan Funds

Republic County

# ALL FUNDS HAVE BEEN ALLOCATED #

Public Hearing Notice
Economic Development Applications

The County of Republic is posting this notice for the purpose of considering
applications to be submitted to county funds under our CDBG Local
Revolving Loan Fund for the effects of COVID 19 on local businesses.
The funds will be used for working capital such as: salaries, wages, inventory, utilities, rent, insurance payments, etc. , and must retain LMI jobs. The estimated fund amounts available will be $400,000.00.

Oral and written comments will be recorded and become a part of Republic County CDBG Citizen Participation Plan. Reasonable accommodations will be made available to persons with disabilities. Requests should be submitted to rced@nckcn.com / www.republiccountykansas.com.

Dated: March 23, 2020 (Public Notice of Fund Availability reduced to 24 hours per KDOC/CDBG Program).


Republic County
CDBG Revolving Loan
Business Stimulus Criteria

Kansas Department of Commerce CDBG Program is encouraging immediate use of our Revolving Loan Fund monies to support the working capital needs of businesses in Republic County. Apply online by emailing the forms to rced@nckcn.com, pick up an application at local banks, or call (785) 527-0657.

Terms:

  1. Loans must be used for working capital. This is defined as staff salaries and wages, purchase of inventory, utilities, rent, insurance payments, etc.
  2. Business must have at least one full-time equivalent Low/Moderate income employee. Owners are not counted as employees. Part-time employees can add up to this full-time equivalent.
  3. Loans are to stimulate JOB RETENTION, not new hires. State LMI Job Certification forms are required on all retained employees. Make copies as needed.
  4. A letter from the company/business must be attached attesting that the company is either shut down or will be shut down due to COVID-19.
  5. No collateral necessary; no matching funds necessary.
  6. Loan terms are up to 3 years repayment, 0% interest, with no principal payments for 1st 4 months.
  7. Proof of payment by copies of invoices, receipts, payroll must be supplied. No old outstanding debts qualify.
  8. Business cannot have outstanding State or County tax obligations.
  9. Fund availability begins March 25, 2020. Awards will be made by check from the Republic County Commissioners. $20,000 per business limit at this time.

Loan Documents

Download and Read All

Download the application and refer to the additional documents on guidance.

Emergency-Response-Loan-Application

Employee-Certification-Form-3

PLEASE FILL OUT A JOB CERTIFICATION FORM FOR EACH EMPLOYEE BEING RETAINED.

PLEASE MARK ON THE CORNER OF THE FORM IF THEY ARE ½ TIME, ¾ TIME, ETC.

Job-Certifications-for-Economic-Development-Projects-3-1

Public-Hearing-Notice-LRLF-COVID-19-1

Republic-County-CDBG-Revolving-Loan-Stimulus-1

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