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Network Kansas details statewide loan programs, reports SSBCI deployment and new philanthropic offset
Summary
Network Kansas leaders told the joint commerce committees that their statewide referral and gap-financing programs have deployed millions in loans and venture investments, described administration of the federal SSBCI Grow Kansas program and announced a $1 million philanthropic grant to offset portions of principal for rural borrowers.
Eric Peterson, president and chief operating officer of Network Kansas, and Steve Radley, Network Kansas chief executive officer, briefed the joint House and Senate commerce committees on the agency’s referral services, community loan programs and administration of federal SSBCI (State Small Business Credit Initiative) funds.
Peterson described Network Kansas’s referral center (rebranded as the Impact Investment Center), a statewide partner network and the eCommunity loan program that places local decision-making authority with 75 partner communities. “Network Kansas offers essential financial resources, valuable relationships, expert knowledge, and experience through these partners to the entrepreneurs in Kansas,” Peterson said.
Network Kansas supplied program data during the presentation: the eCommunity loan programs have made 1,014 loans totaling about $32.8 million…
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