WICHITA, Kan. (KSNW) — A Wichita fund that supplies income for nontraditional small businesses has introduced they are accepting apps.
PROPEL, which stands for Supplying Sources and Options for Proprietors, Entrepreneurs, and Loan providers, supplies up to $20,000 to companies that have the skill to repay a financial loan, but could have issues securing a personal loan by the regular approach.
The fund is set up by the Metropolis of Wichita, and purposes can be uncovered by going to their website. They will be accepting purposes via March 18.
In accordance to the city’s internet site, the ambitions of PROPEL are to:
- Stimulate business possession and self-employment as a signifies of financial self-sufficiency for very low- and moderate-earnings persons.
- Bridge the gap for enterprises which could possibly eventually qualify for financial institution funding and help in planning companies for standard financial institution relationships.
- Spur career generation and retention for lower- and reasonable- cash flow residents of the local community who are staff of collaborating small organizations.
- Market entrepreneurship and company innovation as a suggests of harnessing the innovative opportunity of smaller small business and investing in the financial results of the group.
To see if your company qualifies for a PROPEL loan, and to post an application, you can visit their web page by clicking listed here.