$1 Million and Growing: PCEDC Small Business Loans Reach New Milestone

For more than a decade, the Pottawatomie County Economic Development Corporation has been helping local entrepreneurs turn business ideas into reality—and in August, that effort reached a significant milestone.

For the first time in its history, PCEDC’s revolving loan fund surpassed $1 million in active loans to local businesses.

The milestone represents more than a dollar amount. It reflects 12 years of local investment, successful partnerships with area banks, and the continued willingness of entrepreneurs to invest in Pottawatomie County.

When the revolving loan fund began 12 years ago, it was initially capitalized through investments from local investors. Since then, PCEDC has provided $2,698,440 through 66 loans, with an average loan of $40,885 and an average interest rate of 3.02%.

The impact reaches across a broad range of local businesses. Loans have supported coffee shops, restaurants, doctors’ offices, construction companies, childcare providers, flower shops, small manufacturing operations and many others. In addition, 56% of the loans have gone to female entrepreneurs, highlighting the important role the fund plays in supporting local women-owned businesses.

Today, PCEDC is able to continue growing the revolving loan fund through its partnership with Network Kansas, which provides an important resource for expanding access to capital for Kansas entrepreneurs.

The loans are designed to work alongside traditional bank financing, providing the gap funding that can sometimes make the difference between a business being able to move forward or having to put a project on hold.

“This is exactly what economic development looks like at the local level,” said Shanna Goodman, PCEDC Executive Director. “It’s helping a childcare provider open its doors, helping a restaurant expand, helping a small manufacturer purchase equipment, or helping an entrepreneur take the next step in growing their business. These may be small loans individually, but together they have a meaningful impact on our communities and our local economy.”

Because the fund is revolving, money that is repaid can be lent again to another local business. That creates a lasting economic development resource: capital invested locally continues to work locally.

The program also demonstrates the value of partnerships. Local banks provide the primary financing, while PCEDC can help fill the gap when a project needs additional capital. Through its partnership with Network Kansas, PCEDC can continue strengthening this resource for entrepreneurs across Pottawatomie County.

After 12 years, the numbers tell a compelling story:

• $2.7 million in total loans
• 66 local business loans
• $1 million+ currently active in local businesses
• $40,885 average loan
• 3.02% average interest rate
• 56% of loans to female entrepreneurs

And because the fund continues to revolve, that impact isn’t finished. The capital invested years ago is still working today—and as loans are repaid, those dollars will be available to support the next local entrepreneur.

That’s the power of a revolving fund: one local investment can help create opportunity again and again.