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Douglas County and Lawrence update eCommunity entrepreneurship program; Network Kansas reports 40 local loans since 2011
Summary
County staff and Network Kansas told the Feb. 26 Douglas County Commission that local eCommunity programs have facilitated roughly 40 loans since 2011 totaling about $1.4 million and are expanding targeted programs for entrepreneurs of color.
County staff and partners on Feb. 26 presented an overview of the Douglas County and Lawrence Urban eCommunity entrepreneurship programs and the role of Network Kansas in providing gap financing, technical assistance and program coordination.
Network Kansas president and COO Eric Peterson described the eCommunity model as a locally administered gap-finance program that pairs state or philanthropic capital with local decision-making, saying the model pushes decisions "to the lowest level" so communities can match capital to local needs. Peterson described five loan programs overseen by Network Kansas and said the entity's funds are distributed through local financial review boards that recommend loans to Network Kansas.
Key numbers and outcomes presented by county staff and Network Kansas:
- Since 2011, the Douglas County eCommunity partnership and Lawrence Urban eCommunity have generated about 40 loans totaling approximately $1.4 million; the average loan size reported was $35,506, and 23 loans have been paid off in full. - Diversified Douglas County, a program modeled to address barriers to capital for entrepreneurs of color, dispersed five loans in its first year and has one loan pending technical assistance. - The Youth Entrepreneurship Challenge awarded $3,600 in prizes this year, funded largely through Network Kansas partnerships.
Partners highlighted included Mid America Bank (which serves as administrative agent for loan collections and has been a consistent local match lender), KU Small Business Development Center (technical assistance required before loans are considered by the Financial Review Board), the Lawrence Chamber, food-system partners that referred applicants, local community foundations, and local municipalities including Baldwin City, Eudora and Lecompton.
Speakers said the eCommunity programs emphasize technical assistance and relationship building to expand the pipeline of loan-ready entrepreneurs; county and chamber staff cited recent activities such as an Entrepreneur Listening Project, a foodpreneurs boot camp, the Online Restaurant Academy partnership and an Empower pitch competition coordinated among urban eCommunities.
No commission action was required for this informational presentation. Presenters told commissioners they are tracking outcomes and working to broaden lender awareness and the referral pipeline to increase participation and loan volume.
Ending: county staff said they will continue outreach to small businesses and report performance metrics for eCommunity loans to the commission in future updates.
