In response to the COVID-19 crisis, on March 20, Kansas Department of Commerce announced the Community Development Block Grant program is allowing for immediate use of our local CDBG revolving loan funds. These funds are available through the City of Great Bend to help support the working capital needs of the existing small businesses, including non-profit organizations in our community.
Although some of the requirements have been lifted, funding is to be based on job retention of which 51% must be Low to Moderate Income, and the business must provide a letter stating the company is either shut down or will be shut down due to COVID 19. Applicants are not required to provide business financial reports, matching funds or collateral.
These monies are only available to businesses or non-profits within the Great Bend city limits by completing the application and necessary documents. By consensus, City Council has approved loan terms of ½ % interest, maximum 3-year term and not more than 12-months of interest-only payments. The Governing Body will make final approvals on loan request.
For additional information or to submit applications, contact Jessica Milsap, Great Bend Economic Development president, at firstname.lastname@example.org or call 620-796-2407.