NCK Business Relief Loan Fund – Businesses Less than 2 Years Old

Loan amount available: Up to $10,000 based on need, subject to availability of funds.

Term: Up to 10 years, up to 12 months deferral based on need. Interest will accrue.

Primary eligibility requirements:

  • For profit business adversely impacted by the COVID-19 pandemic to help preserve business and jobs.
  • Bank request for assistance on behalf of COVID-19 pandemic impacted business located in Clay, Cloud, Dickinson, Ellsworth, Jewell, Lincoln, Marshall, Mitchell, Ottawa, Republic, Saline and Washington County, Kansas.
  • Retention of jobs.
  • Borrower(s)/Owner(s) with 700+ credit score from national credit bureau source prior to pandemic (beginning December 2019 through application date).
  • Business having a 2021 or 2022 proforma debt coverage ratio of 1:1 or greater as calculated by bank.
  • Primary loan with a bank that has a physical location in the North Central Regional Planning Commission 12-county service area.

Fees: 1% processing

Not Allowed:

  • Debt refinance
  • Requests to fund identical expenses already reimbursed by another local, state, and/or federal loan or grant
  • Non-profits and production agriculture are ineligible

See Business Finance Program for assistance.