CDBG Micro-Loan Program

Montgomery County was awarded $100,000 in Community Development Block Grant funds by the Kansas Department of Commerce and Housing in 1999 to be used as a revolving loan fund.  The Montgomery County Action Council serves as the facilitator of this fund.  A total of nine loans have been made in the amount of $15,000 or less to start-up or existing businesses in Cherryvale, Coffeyville and Independence.  Businesses in Caney are exempt from the Montgomery County program due to the existence of a similar program maintained by the City of Caney.  The goal of the program is to keep these funds revolving in the community, constantly stimulating new business and assisting existing businesses.

Applicants must complete an application process which is similar to one required by any lender.  Businesses are required to create at least one job.  In the case of start-up businesses, this requirement is fulfilled by the creation of the applicant's job.  Interest rates are low, around 5%.  The maximum available for a loan is $25,000.  The application below can be downloaded, completed and sent to Montgomery County Action Council's office at P. O. Box 588, Independence, Kansas  67301.  Please direct questions to Marilyn Kurfiss at 620-331-3830 or kurfiss@actioncouncil.com.

CDGB/RDA Micro-Loan Application pages 0-9, 12 and 13 (Adobe PDF File, Size:  56.2KB)

CDGB/RDA Micro-Loan Application pages 10-11 (Adobe PDF File, Size:  16.4KB)

RDA Micro-Loan Program

The Rural Development Loan Fund was established in Montgomery County in 1997 and consists of 65% federal grant money and 35% matching funds provided by Montgomery County Action Council.  The goal of the program is to assist start-up or existing manufacturing businesses located in Montgomery County.  The RDA Micro-Loan Program's funds revolve in two ways: funds can be accessed by one company more than once, and all loan proceeds go back into the fund to be recycled in the community.

RDA Micro-Loans can be made to existing or start-up businesses located anywhere in Montgomery County.  Loans of $20,000 or less at favorable interest rates can be used to acquire machinery and equipment or to provide working capital for inventory/materials to be used in production.  The application above can be downloaded, completed and sent to Montgomery County Action Council's office at P. O. Box 588, Independence, Kansas  67301.  Please direct questions to Marilyn Kurfiss at 620-331-3830 or kurfiss@actioncouncil.com.

Kansas Small Business Development Center

The Pittsburg State University Small Business Development Center offers free business counseling for business owners and entrepreneurs.  A counselor conducts two counseling sessions a month in Montgomery County on separate Wednesdays.  The Coffeyville sessions are held in the Occupational Center, Room 113 at Coffeyville Community College.  The Independence sessions are held at the Administration Building, Drive D, Board Room at Independence Community College.  These sessions are strongly recommended to anyone applying for a Micro-Loan.  In addition to individual counseling sessions, the Small Business Development Center offers seminars on a variety of subjects related to business issues.  Please call the PSU SBDC office at (620) 235-4920, or e-mail to ksbdc@pittstate.edu. 

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