Start Your Own Business
Emporia Main Street has several resources available to Entrepreneurs to start, expand, or enhance your business! Through a variety of educational opportunities, loan programs, historic tax credits, and tax rebates the staff at Emporia Main Street is ready to help you and your business set up for success!
Start Your Own Business Class
Loan and Grant Programs
Community Development Block Grants- CDBG funds are applied for through city governments and can be used for revitalization efforts, and in some cases a loan pool.
E-Community- Another potential loan pool, E-Community mimics local funds (like IWW or Trusler) loaned out to businesses in a community defined area (like a city or county). Funds for the loan pool are raised through the sale of tax credits which form an account for a specific entity. E-Community funds do require a funding match.
Kansas Main Street Incentives Without Walls – Administered through the local Emporia Main Street ProgramZero interest loan is a 3:1 matching loan up to $20,000 within a defined district. Emporia Main Street fills out the IWW application for businesses, but there are some pieces of information required from applicants. Contact the Emporia Main Street office for details.
Network Kansas Loan Program-As a network Kansas Partner, Emporia Main Street can apply for funds that match the terms of other local loan funds (like IWW or Trusler) in a 60/40 split.
Trusler Loan Program– A privately funded zero interest loan pool donated by the Trusler Foundation and administered through Emporia Main Street. This loan pool can be used on any commercial property in Emporia, but it’s policies mimic Incentives Without Walls funds. Contact the Emporia Main Street office for details.
Emporia Neighborhood Revitalization Program – This program offers a property tax rebate on properties in certain areas that receive revitalization investments. Contact the Emporia Main Street office for details.
Federal Historic Tax Credits- These 20% federal tax credits are similar to the state Historic Tax Credits, but are used less frequently and on larger projects. The National Historic Tax Credits are non-transferable and do require that buildings are either on the national register or are a contributor within a historic district.
Kansas Historic Tax Credits- We are hoping to pursue a historic district that would allow for the expanded use of this 25% (for profit) or 30% (not for profit) state tax credit. These tax credits can be used on qualified expenditures in historic buildings or buildings deemed as “contributors” within historic districts. These tax credits can even be used to revitalize current non-contributing buildings to make them a “contributor” to the aesthetic of a district. Things like plumbing, electrical, air conditioning and other mechanical issues are typically covered under this program. Historic Tax Credits are popular enough that a series of developers specialize in their use. We have had inquiries from developers about a historic district in Emporia, but obviously we haven’t been able to capitalize on their interest due to the lack of a district. State Historic Tax Credits are transferable (meaning you can sell the credits for cash).
New Market Tax Credits- Common on the coasts and larger urban areas, the New Market Tax Credits are just now being used in Kansas. This 35% tax credit can be used in census tracts deemed “distressed” or “severely distressed”, which is virtually everywhere with the exception of properties west of Industrial Road.