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The Leavenworth Times - Leavenworth, KS
  • Loans still available through Leavenworth program

  • While First City Development Corp. hasn't awarded any loans in recent months to Leavenworth businesses, there's been some prospects, an official said.
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  • While First City Development Corp. hasn't awarded any loans in recent months to Leavenworth businesses, there's been some prospects, an official said.
    "We're still hopeful," Gary Bartek said, and there may be more progress to report later in the year.
    Bartek, the administrator for First City Development Corp, said applicants have to prepare a lot of information as part of the loan process.
    The non-profit organization offers zero interest matching loans to business owners in Leavenworth who are looking to expand or people wanting to start new businesses.
    First City Development Corp. administers the Entrepreneurship Community, or E-Community, program in Leavenworth. The E-Community program was established by NetWork Kansas, which was set up by the state to facilitate small business growth and new business startups.
    Leavenworth is one of 30 E-Communities in the state. It was named an E-Community in 2011.
    Money for First City Development Corp. is raised through contributions made by local residents in exchange for tax credits offered by the state.
    Since being established, First City Development Corp. has provided one loan to a Leavenworth business, TenPenny Restaurant and Bar, which relocated from 10th Avenue to the downtown area.
    "We're still trying to generate some awareness for the program," Bartek said.
    He said First City Development Corp. is in the process of having window decals made that can be displayed in local business windows to help advertise the program.
    Loans from First City Development Corp. are capped at $45,000 under NetWork Kansas requirements. Bartek, who's also the economic development administrator for the city of Leavenworth, said each loan is required to have a 40 percent local match. The match can be in the form of a bank loan.
    He said there is no deadline for when members of the public have to apply for a loan from First City Development Corp. Applications for loans can be found on the city of Leavenworth's website, www.lvks.org.
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