First Connection Opportunity Fund

The First Connection Opportunity micro loan program is targeted to socially and economically disadvantaged individuals in Shawnee County and small businesses. It is designed to create and expand businesses while creating jobs. This comprehensive, strategic program is unlike any other initiative previously undertaken in Shawnee County.

This comprehensive initiative is more than a micro loan. It also:

• Assigns you a mentor to show you the ropes of running a business and tapping into the right networks.
• Provides you with the formula to success at classes developed by the Ewing Marion Kauffman Foundation and/or other business seminars.
• Equips you with a support system, a feasibility plan specific to your business, and confidence to succeed.

Economic Benefits

The First Connection Opportunity Micro Loan Program is sponsored by The City of Topeka, GO Topeka, and Growth Opportunity (GO) Connection, with the assistance of the Disadvantaged Business Enterprise Advisory Council. These local partners have teamed up to bring more business ownership to disadvantaged communities.

"If small, minority and woman-owned businesses open and are given the right resources to flourish, Topeka's economy will grow," says Thomas Officer, loan manager for the Chamber. "More jobs will be created. Larger corporations will have a new and growing diverse pool to tap when looking for suppliers. Topeka, Shawnee County, and Kansas all win because this new initiative makes smart business sense."

How do I qualify?

• Your business must be for profit. The only exceptions are not-for-profit child care facilities.
• Proceeds must be used to purchase business inventory, equipment, or working capital (not more than 50%).
• You must be a start-up business or a business that wants to expand.
• Certain credit requirements may apply.
• You must strive to create jobs.
• You must attend educational training sessions as specified by First Connection Opportunity guidelines.

Terms

• Loans from $500 to $35,000 are available based on qualifications and availability.
• Terms of the loans are 60 months, or 5 years, on a single note.
• A 5% fixed simple interest rate during the term of the loan on unpaid balance.
• Principal and/or interest may be deferred for the first 3 months.

Loan Application Process

For more information about the loan application process, please email Thomas Officer or call him at 785-234-2644.