Norton loan fund gets a boost

10/8/2012

NORTON -- The Norton City/County Economic Development office has announced an additional $100,000 in tax credits has been allocated for the Norton County Network Kansas E-Community Loan Fund.

The added tax credits will result in $133,333 to be used to help further the community's efforts to provide additional capital to Norton County businesses.

Norton County was named an entrepreneurship community in 2011 and awarded $125,000 in tax credits, which translated to $166,667 in loan funds.

Five percent was used to market and promote the program, and three businesses received $45,000 each from the fund, said Scott Sproul, Norton City/County Economic Development executive director.

The E-community fund was designed to act as a gap financing mechanism allowing a project to move forward with additional matching capital.

Norton County has until Dec. 14 to sell the additional tax credits.

For more information, contact Sproul at (785) 874-4816 or email nortoneda@ruraltel.net.