Loans available for new businesses, expansion

NetWork Kansas selected Hillsboro Dec. 9 to be an Entrepreneurship Community (E-Community).

In the process of applying for E-Community status, Hillsboro Development Corporation established a $150,000 revolving loan fund to assist new and expanding businesses, HDC Executive Director Clint Seibel said Tuesday. The fund was established by selling income tax credits.

“We are excited about the possibilities we have to encourage business startups and expansions in our part of the state,” HDC President Lyman Adams said. “We now have tangible resources at our disposal to make things happen.”

The revolving loan fund could be expanded to $300,000 in the future, but only if the existing fund sees use, Seibel said. Loan funds will be available after Jan. 1 for qualifying businesses.

To learn more about the revolving loan fund, contact Seibel at 116 E. Grand, Hillsboro, call (620) 947-3458, or e-mail cseibel@cityofhillsboro.net.