Economic Development
What is the function of Rural's Economic Development Department?
To serve as liaison between individuals, local businesses and area organizations interested in improving the economic climate of northwest Kansas. These groups include, but are not limited to, local Chambers of Commerce, Northwest Kansas Planning and Development, western Kansas Rural Economic Development Alliance, Kansas Department of Commerce and Housing, Small Business Development Centers, educational institutions, city municipalities and county governments.
What is the purpose of Rural Telephone’s Revolving Loan Fund (RTRLF)
To foster and promote rural economic development and/or job creation projects in rural areas. The RTRLF shall be used to stimulate economic growth by leveraging as much private capital as possible for qualified economic activities.
What are eligible activities?
Projects must demonstrate that they are economically viable. Business start-up, expansion and community development projects are all eligible activities. The objective of creating and retaining permanent private sector jobs requires that the overall project feasibility and job creation potential be emphasized. The focus of the RTRLF is to promote growth while supporting development, which diversifies the region’s economy.
What are ineligible activities?
Ineligible activities consist of such activities as: debt refinancing without an expansion, speculative land purchases, projects of residential nature, transfer of ownership without expansion and 100% working capital loans. These are examples and are not intended to be all-inclusive. Each activity will be evaluated on a project-by-project basis.
What is the application process?
Initial completed applications must include Items 1-4 listed in our Application Checklist. Upon approval by Rural’s Finance Committee to proceed with your request, you will be required to submit the additional information that pertains to your loan. A final analysis will be done within 45 days after a completed package is received and a recommendation will be submitted to the Rural Telephone Board of Trustees. The Board of Trustees will approve or disapprove the RTRLF application at their normal monthly meeting.
What services are provided by Rural’s Economic Development Department in addition to business financing?
•Resources for start-up businesses in preparing a business plan or market study
•Assistance with state and federal incentive programs for training employees
•Assistance with preparation of Interactive Video, educational and medical grant/loan applications
•Networking opportunities between federal, state, and local leaders
•Assistance with housing programs
•Assistance with strategic planning and implementation
Contact Our Representative:
Mendi Alexander
Economic Development/Networking Specialist
Phone: 785-625-7070
Toll Free: 877-625-7872
Fax: 785-567-4401
Email: malexander@ruraltel.com