What's Inside:
- Latest Covid-19 Resource Updates
- Encountering Innovation Applications are open!
- Capital Access Center
- Upcoming Training Events
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Key 2021 Covid Financial Support Programs |
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Loan and grant program highlights include:
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Employee Retention Tax Credits - Up to $28k per employee. Employers can claim up to 70% of total compensation expense per employee (up to $7k per employee per quarter in 2021).
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SBA Debt Relief Program -New SBA Loans now through September 2021 get their first 3 months of payments FREE (capped at $9,000 per month per borrower) made on your behalf. Existing SBA Loans may get additional months of FREE payments as well, based on additional criteria.
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Economic Injury Disaster Loan (EIDL) - The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 EIDL program. Starting the week of April 6, 2021, the SBA raised the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.
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Encountering Innovation 2021 Applications Are Now Open |
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The Kansas SBDC is now accepting applications for the 2021 virtual Encountering Innovation Conference, scheduled for September 13 – 17, 2021.
Tech Scouts from the Department of Defense, Service Labs, Academia, and various government agencies will listen to pitches, examine poster board displays, discuss government needs, and chat with innovators.
Through these connections, innovators will gain feedback and direction, and their innovation might be selected for socialization among government agencies and for fast-track contracting.
Technology scouts hope to find innovative solutions to immediate needs. They also seek a broader range of innovations that will resolve operational challenges or save costs. This event is not limited to warfighter technologies. If you have an innovative product that can assist the federal government in medical, cyber, operations, and power and energy industries, this event is for you!
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The Kansas SBDC Capital Access Center |
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Current Kansas SBDC clients have access to many resources, including the Capital Access Center (CAC).
Clients are guided and advised by banking and loan experts who have had experience in multiple levels of banking and know how to find the best solution for clients' small business needs.
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The CAC works with many types of loan and financing partners such as conventional loans, SBA lending programs, non-bank financing, as well as working with local financing partners.
The CAC provides many services including:
Loan Screen Eligibility: Using the "6 C's" considered by most lenders, loan experts at the CAC will evaluate the eligibility of a loan.
Test Review & Lending Options: The CAC will work with clients to run mock underwriting scenarios to find the best options available.
Guidance Through the Loan Process: CAC experts provide ongoing assistance to help clients get the targeted loan, as well as saving time and frustration along the way.
Training & Education: The CAC will help clients prepare to meet with lenders and provide the necessary training to help identify and target loans that are available.
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Kansas SBDC Client Shout Out
Capital Access Center
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Linear Benefits, established in 2020, is a company that focuses on providing the most efficient and comprehensive insurance programs for small- and medium-sized businesses. The company aims to maximize the linear relationship between a high-quality insurance program and the success of a business.
Owner Claude Aldridge has spent over 12 years, collectively, working in the insurance industry and understands the best way to leverage a business’s insurance needs. Aldridge started in the insurance industry as a general underwriter, working his way up to become an analyst underwriting corporate medical plans after college. Eventually, he followed in the family legacy and worked his way to running the family business, Financial Resources of Kansas City.
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Aldridge looked to the Kansas SBDC to help secure SBA funding. Vince Haworth of the Capital Access Center and Jack Harwell of the Kansas SBDC at Johnson County Community College helped guide Aldridge to find the best resources to make Linear Benefits the most effective insurance agency possible. Aldridge knew Linear Benefits was a viable business but needed help finding the capital to bridge the gap that comes between establishing a new business and earning revenue. Haworth and Harwell took time to understand Aldridge’s situation and then helped point him in the direction of finding access to capital through an SBA loan provided by a small business bank.
“[The SBDC] took the time to understand my situation and then pointed me in the direction of the Small Business Bank which I wasn’t previously familiar with,” said Aldridge. “This is the bank that ended up funding my SBA loan.”
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Upcoming Webinars and Virtual Events |
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Upcoming Paid Webinars
Cost: $119
Registration fee is nonrefundable
Cost: $119
Registration fee is nonrefundable
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Facebook Live
The Capital Access Center and Your Small Business
Vince Haworth, Director for the Kansas SBDC Capital Access Center, will present on a topic covering financial information and your small business.
Details for the presentation have yet to be decided, but more information will be released in the coming weeks.
Check in for the Facebook Live event on Wednesday, July 28th at 10 am.
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Funded in part through a cooperative agreement with the U.S. Small Business Administration |
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Kansas Small Business Development Center
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Questions? Don't hesitate to contact our 7 day-a-week assistance line at (800) 949-7661
For Spanish, call (800) 707-0580
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