Assistance of business plan development, resource identification, and financing assistance is available at no charge. Assistance in identifying sources such as neighborhood revitalization districts, marketing assistance, zoning, state incentive programs that a project may qualify for or additional incentives through the city or county is also available. Please contact Russell County Economic Development and CVB to schedule an appointment.
RUSSELL COUNTY ECONOMIC DEVELOPMENT LOAN PROGRAM:
The RCED loan program is a low interest rate program for new or existing businesses in Russell County, Kansas. The loan program funds up to $15,00 per project, with an interest rate of 4% over 5 years. The Funds can be utilized independently or mixed or matched with additional loans. The loan does require a business plan, projected financials for the business and collateral. For the application, please visit the Program Application Tab.
E-COMMUNITY LOAN PROGRAM:
The Russell County Economic Development E-Community Loan program ins a partnership program through Network Kansas and Russell County Economic Development. This program can include startup andexisting businesses in Russell County. The application does require a business plan, projected financials and collateral. The term of the loan is 4% over 5 years. This loan can be leveraged with the Russell County Economic Development Loan Program. For the application, please visit the Program Application Tab.
The Store front/Signage Program, through Russell County Economic Development is meant to create and enhance promotion of businesses and physical design of businesses in Russell County. Seven grants are given out each year through a competitive application process. The program provides $2,000 towards a minimum investment of $4,000 by the business owner.
*Signage - Development or update signage for Business. Signage must meet city ordinance expectations and codes.
*Storefront Improvements - Development of storefront or improvements to current storefront. (Building design & appearance: Roofing that impacts storefront; parking lot; painting storefront; signage; windows; and hardscape.)
For the complete application, please visit the Program Application Tab.
Additional incentives are available through a requested application from Russell County Economic Development and the City of Russell. This application is for large projects either new or expanding in Russell County. The application process measures the new job creation at median wage with benefits, the company's capital investment, and the forgivable loan or land amount through a cost benefit analysis that is conducted by Wichita State University. The cost benefit analysis measure the expansion of the local tax base that brings new dollars to the community/county. Once the cost benefit analysis is complete, the project is presented to the city of Russell Council Members and the Russell County Commissioners for a public investment decision.
The City of Russell does have an identified industrial site that is zoned heavy industrial. It is a full - service site and maintained by the City of Russell.
Additional Resources Available:
Additional Loan Options - Loans are available through banks in Russell County, Northwest Kansas Planning Commission, Nex-Tech, Russell Main Street, and Network Kansas. We work with a variety of loan providers to leverage funding for a business project.
Business Refinancing Options - There are several refinancing options to be explored for businesses, contact our office to schedule an appointment for additional information as business refinancing will be an individual business case by case discussion.
Workforce Development - Two times a year RCED hosts a mobile job fair for Russell County Employers. Contact the office for the next job fair details.