Hutchinson Community College campus photo

QUEST E-PARTNERS

Entrepreneurship Community: Reno County Logo

Reno County E-Partners was formed to strengthen our county-wide environment that encourages and supports entrepreneurship and small business expansion.


Reno County E-Partner’s Mission:


To manage the allocation of Network Funds to start up and expanding Reno County businesses in order to generate entrepreneurship activity throughout Reno County.

Network Kansas E Community is a partnership that enables local communities to invest in businesses in their own community by establishing a partnership with NetWork Kansas.

A partnership with Network Kansas allowed our Reno County E-Partners organization to have access to an original $133,000 tax credit grant to establish a revolving loan fund to assist business expansion and job creation. The fund is administered at the local level. A 23 person Leadership Team representing Reno County and a 6 member Loan review Board comprises the E-Community. The Quest Center is the administrator of the loan program.

The following is a brief review of the application process.  For those interested in the program, applications may be picked up at The Quest Center, 1 East 9th, Hutchinson.  For further inquiries on this program please call 620-665-8468.

  • An application form will be completed by the potential borrower.
  • All applications will come through the Quest Center for review of business plans.
  • All applications will have a business plan with financials projected for 3 years along with other details.
  • All applications will then be acted upon by the loan review committee.
  • The Quest Center is an ex officio member of the loan review committee, only to answer questions about the business plan and then to do administration; to close the loan, if approved, to make sure that proper documents are filed and for follow up during the term of the loan.
  • Proper collateral and if necessary UCC, mortgage and personal guarantees as deemed necessary by the loan review committee are to be filed with proper agencies.
  • There are no application fees.
  • Closing fees to be paid by Borrower are only those fees necessary to secure collateral.

Use of the Reno County E-Community funds can be utilized in the following instances:

  • Gap funding for both start-up and business expansion.
  • Direct loans can be made to start-ups and business expansion, with a viable business plan and who may not be able to receive a bank loan.
  • Loans can be made in conjunction with other financing to assist a viable business, whether start-up or expansion.
  • Monies to borrowers will not be grants but will be interest bearing loans at a discounted interest rate to businesses that will allow for their viability and success.
  • Interest rate is to be decided by the loan review committee.
  • Length of loan is to be decided by the loan review committee, also dependent on business plan but not long term.
  • E-Community loans will not be in competition with local financial institutions but as an aid to local financial institutions so they can then make a loan within their regulatory rules.
  • Loans through Reno County E-Community cannot exceed 60% of total loan required for the business.
  • Collateral available may be utilized in a secondary position by the E-Community or other instruments utilized as deemed proper by the loan review committee.