Financial assistance programs are available from private and public sources for new and expanding companies in Dodge City and Ford County. The Dodge City/Ford County Development Corporation can provide assistance in finding financial assistance programs based on specific needs. For more information, contact the Dodge City/Ford County Development Corporation staff at 620-227-9501.
Click the tabs below to learn more about each of the available incentives.
Dodge City/Ford County E-Community Program
The purpose of the Dodge City/Ford County E-Community Program is to encourage entrepreneurial small business development and retention in the Dodge City/Ford County community. Qualifying entrepreneurial projects including startup businesses, existing business purchases, or existing businesses desiring to invest in expansion may apply for funding of up to $45,000.
Two types of funding are offered from the fund: grants and low-interest loans. Grants are reserved for those projects determined to have the greatest weighted cumulative score on the enclosed rubric and require a 3 to 1 match of funds. Low-interest loans are the more common funding mechanism and require a 40% match from a public sector resource that is a NetWork Kansas partner or a financial institution.
Community Development Block Grants
These funds are received from the Department of Housing and Urban Development (HUD) through annual allocation. All CDBG activities must meet one of three national objectives: benefit to low-to moderate-income persons, elimination or prevention of slum and blight, or urgent need. Cities and counties are eligible applicants.
There are six general categories of CDBG funding:
Annual Competitive Round
This category has four categories:
- Community Improvement and Housing
Community Improvement projects which include, water and sewer improvements, fire protection, bridges, community and senior centers, streets, architectural barrier removal, natural gas systems, electrical systems and public service activities. Housing grants support rehabilitation of owner-and renter-occupied residences within targeted areas to encourage neighborhood revitalization.
- Water and Sewer Grants
Maximum award is $500,000 with a funding ceiling of $2,000 per beneficiary.
- Community Facilities
Maximum award of $400,000 with a funding ceiling of $2,000 per beneficiary. Projects may consist of fire protection, bridges, community/senior centers, streets, architectural barrier removal, natural gas and electrical systems, health, mental health and other public facilities projects.
- Housing Rehabilitation Grants
Maximum amount awarded is $400,000, awarded to local units of government (cities and counties). Eligible activities include Homeowner and Rental Rehabilitation. A Housing Assessment Tool (HAT) must be completed by the unit of government prior to submitting an application.
- Community Improvement and Housing
Commercial RehabilitationThe purpose of the program is to help cities improve the quality of their downtown commercial districts by assisting private property owners in the rehabilitation of blighted buildings.
Economic DevelopmentEconomic Development grants to cities or counties are loaned to provide gap financing for private businesses that create or retain permanent jobs. The funding ceiling is $35,000 per job created or retained with a maximum of $750,000. Matching funds are required.
Urgent NeedUrgent Need Grants address an immediate threat to health or safety resulting from a sudden and severe emergency. These awards assist in meeting community needs created by a severe natural or other disaster. The maximum amount awarded is $400,000 per grant. Applications must be received within six months of the occurrence.
KAN STEP – Kansas Small Towns Environment ProgramKAN STEP is an ongoing, competitive self-help program for communities to address water, sewer and public building needs.
Neighborhood Stabilization Program (NSP)The NSP was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties.
More information about these programs can be found on the Community Development Block Grant program page of the Kansas Department of Commerce website or by calling 785-296-3004.
Great Plains Development, Inc.
Great Plains Development, Inc. (GPDI) is a Certified Development Company established to assist small businesses in obtaining financing.
GPDI assists businesses with loans for fixed asset purchases with the Small Business Administration (SBA) 504 loan program. A lending institution provides 50% of the funding, GPDI provides 40% at a fixed interest rate at ten or twenty year terms, and the borrower provides 10%. (New business will be required to provide up to 30%).
GPDI administers three in-house loan funds. GPDI disburses the entire loan, sets interest rate and terms. Maximum amount available to any one business is $150,000. Job creation or retention is necessary.
GPDI also packages applications for:
- SBA for working capital
- Kansas Department of Commerce for business and loan programs
- Rural Development loans to businesses
Industrial Revenue Bonds
Industrial Revenue Bonds may be used to finance land, building and equipment. Cities may issue the bonds, but issuance is based on the credit of the firm. Bonds are available for the city of Dodge City and Ford County. Contac the Dodge City/Ford County Development Corporation at 620-227-9501 for assistance in applying for Industrial Revenue Bonds.
City & County Revolving Loan Funds
Dodge City, Spearville, and Ford County have special economic development loan funds. These are competitive loan applications. The amount of money available to loan at any given time depends on the balance in the funds at the time of application. For more information about these loans, contact the Dodge City/Ford County Development Corporation at 620-227-9501.
Kansas Development Finance Authority
The Kansas Development Finance Authority is an independent instrumentality of the state responsible for the issuance and use of bonds and other financial instruments.
Issuance purposes include:
- Financing capital improvement facilities, educational facilities, health care facilities and housing developments.
- Activities and projects of state agencies.
- Any combination or interest in financing such facilities as industrial enterprises, agricultural business enterprises, educational facilities, health care facilities and housing developments.
- Establishing and funding one or more series of venture capital bonds.
- Financing private sector projects in much the same way that cities and counties can issue industrial development bonds (IDBs). Several small projects can be combined, or “pooled”, into one bond issue to benefit from economies of scale.
Contact: Kansas Development Finance Authority (785) 357-4445.
USDA Rural Development
USDA Rural Development, through its Business and Industrial Loan Program, guarantees loans from local lenders to businesses and industries to benefit rural areas. A primary purpose of the program is to create and maintain employment and improve the economic and environmental climate in rural communities. Any legal entity, including individuals, public and private organizations, and federal recognized Indian tribes may borrow under this program.
USDA assistance is provided in the form of a loan guarantee whereby the agency contracts to reimburse the lender for a maximum of 80% of principal and interest. Lenders are responsible for making and servicing the loans. Applicants may apply for loans through private lenders. Business and Industrial loans are limited to a maximum of $25million.
For more information visit the USDA Rural Development – Kansas website or call 785-271-2730.
Victory Electric Cooperative
Victory Electric Cooperative, through RUS, offers a zero percent interest-free loan program for financing 80% of a new or expanding business in their service area. This loan is subject to a maximum of $2 million per loan. All loans must have a completed business plan. Each application must be approved by Victory Electric Cooperative Board of Directors and follow certain guidelines and procedures during loan application. For more information contact Victory Electric Cooperative at 620-227-2139.