HOISINGTON — Hoisington Main Street, Inc.’s (HMSI) Board of Directors has approved a $10,000 loan to Kindscher’s Mule Barn from its local Revolving Loan Fund. Kindscher’s Mule Barn will be opening March 1, 2012 and will provide a variety of products including animal care, lawn and garden, tools, hardware, plumbing, electrical, farm supplies, automotive, paint and cleaning supplies. The business will open in the building Duckwall previously occupied.

HMSI offers 1% interest loans from its local Revolving Loan Fund to businesses located in the Main Street District which includes businesses in the area between 3rd St. on the north border, Railroad Ave. on the south, Green St. on the west and Walnut on the east border. Businesses located in this area and who are members of Hoisington Main Street may apply. The loan is a 3 to 1 match with the businesses providing 25% of the funds needed for the project.

The revolving loan fund was created in 2007 through a Joint Opportunities for Building Success (JOBS) program grant of $25,000 to HMSI. The JOBS grant is sponsored by the Federal Home Loan Bank of Topeka and its local member First Kansas Bank. Last spring HMSI applied for another $25,000 grant and was awarded it in September.

Since the fund was established, eight local businesses have received loans totaling $32,325 on projects generating $173,356 in investment. The loan maximum per business of $5,000 was increased in June to $10,000. Businesses who have an interest in obtaining a loan may contact the HMSI office at 620-653-2208.