The McPherson Chamber of Commerce offered three new businesses help with start-up costs thanks to a start-up loan program through the Kansas Small Business Center.
Lock and Load, Skynet Photo and Twice Told Tales were the beneficiaries of the McPherson County Entrepreneurship Loan Program, the funds of which are generated by the sale of tax credits. That allows individuals to offset their tax liability while creating opportunities in communities of less than 50,000 in population.
“Participation in this loan program has made a significant contribution to the support of business start-ups and entrepreneurship activity in McPherson County,” Jennifer Burch, McPherson Chamber of Commerce Executive Director, said.
Since the program began in McPherson County in 2011, there has been a total of 24 loans granted, with 23 of those coming from the City of McPherson and one in Lindsborg. The loans have totaled over $816,000 for projects totaling $4.38 million, which has led to 121 jobs in the county.
The program offers a loan of no greater than 60 percent of the gap between what is needed to start up a business and what a financial institution or other public funding source may offer.
“This loan program is not a direct loan from Chamber to business,” Burch said, “but a partnership with local/county banks to stimulate entrepreneurship activity and help business expansions and business start-ups assuring the growth of McPherson County's economic future.”
This go-round, the chamber doled out over $106,000 to the three businesses. Lock and Load received $33,000, Skynet Photo $45,000 and Twice Told Tales $28,200.
Lock and Load is a full-service locksmith and moving company that is AAA certified and operates at 310 North Main Street. Skynet Photo, 880 Vanguard, provides aerial photography, videography and inspection services. Twice Told Tales is a used bookstore that is slated to open in September at 104 South Main Street.
You can find out more on the loan program by contacting the McPherson Chamber of Commerce at 241-3303.