Interest Rate Reduction Initiative
Empowering rural entrepreneurs in eCommunities through lower financing costs.
Network Kansas, in partnership with the Patterson Family Foundation, proudly introduces the Interest Rate Reduction Initiative. This program reduces the financial burden of interest rates for rural entrepreneurs, enabling business owners to focus on growth, innovation, and creating local impact.
Program Overview
The Interest Rate Reduction Initiative provides one-time grant funds to reduce the effective interest burden on loans received through the Network Kansas GrowKS and eCommunity Loan Programs. This initiative is designed to empower entrepreneurs in 95 rural counties across Kansas by improving access to affordable capital.
Program Timeline
- Available: January 1, 2025 – December 31, 2025 (or until funds are depleted)
How It Works
- Apply for a loan through NetWork Kansas’ GrowKS or eCommunity Loan Programs.
- Loan applications are automatically reviewed for grant eligibility.
- If approved, grant funds are disbursed to directly reduce the interest rate on your loan.
- Annual data on business growth and employment is collected by the IIC @ Network Kansas to measure program success.
Why It Matters
High interest rates and inflation make it challenging for rural businesses to secure affordable financing. This program addresses these challenges by:
- Reducing financial costs for entrepreneurs.
- Enabling businesses to allocate resources toward expansion, innovation, and job creation.
- Supporting the development of stronger rural communities.
Who Is Eligible?
Entrepreneurs applying for loans in rural Kansas counties are eligible. Each business (EIN) can only receive the grant once. To learn more about eligibility, connect with your local eCommunity Coach or visit Network Kansas for loan program details.
