Business financing in Chase County.

Small business financing is money you borrow — or sometimes receive as a grant — to start, run, or grow a business. It can cover equipment, inventory, a work vehicle, a building, payroll during a slow season, or the gap between when you finish a job and when a client pays you.

The most common types include:

• **Term loans** — You borrow a set amount and repay it in fixed monthly payments over a set period (often 3–10 years).

• **Lines of credit** — A flexible pool of money you draw from when needed and repay as you go. Good for cash-flow gaps.

• **Equipment financing** — A loan or lease specifically for machinery, tools, or vehicles. The equipment itself often serves as collateral.

• **Microloans** — Smaller loans (often under $50,000) offered by nonprofit lenders and CDFIs, designed for solo contractors and very small businesses.

• **SBA-backed loans** — Loans made by local lenders but partially guaranteed by the U.S. Small Business Administration, which helps lenders take on borrowers they might otherwise turn away.

• **Grants** — Free money you do not repay, usually tied to a specific purpose or business type. Competitive and less common, but worth exploring.

In Chase County, most small businesses rely on a mix of local community bank loans, CDFI microloans, and occasionally SBA-guaranteed products. You don't have to go to a big national bank to find real options.

Chase County has a population of roughly 2,600 people. Its economy is built on cattle ranching, agriculture, small retail, tourism tied to the Flint Hills tallgrass prairie, and a growing number of self-employed contractors and tradespeople.

Lenders who serve rural Kansas generally look for:

• **Time in business** — Most traditional lenders want at least 1–2 years of operating history. Startups can often access CDFI microloans or SBA 7(a) Microloan Program funds with less history.

• **Credit score** — A personal credit score of 620 or higher opens more doors, but some CDFIs and ITIN-friendly lenders work with borrowers who have limited or damaged credit.

• **Revenue or cash flow** — Lenders want to see you can repay. Bank statements, tax returns, or even informal ledgers showing income and expenses matter.

• **Collateral** — For larger loans, lenders often want assets to back the loan (land, equipment, livestock). For microloans and CDFI products, collateral requirements are often lighter.

• **No Social Security Number? ITIN borrowers are welcome** — If you work with an Individual Taxpayer Identification Number (ITIN) rather than a Social Security Number, some lenders in the Kansas region specifically serve you. See the lender section below.

If you are a rancher, a construction subcontractor, a food-service operator, or a small retail owner in Cottonwood Falls, Strong City, or elsewhere in Chase County, you likely fit the profile for at least one product in this guide.

Getting organized before you apply saves time and increases your chances of approval. Most lenders in this region will ask for some combination of the following:

**For all applicants:**

• Government-issued photo ID (driver's license, passport, or consular ID)

• ITIN or Social Security Number

• Two to three years of personal federal tax returns

• Two to three years of business tax returns (if your business is older than one year)

• Three to six months of business and personal bank statements

• A brief description of what the loan is for

**For established businesses:**

• Profit-and-loss statement (can be prepared by a bookkeeper or accountant)

• Balance sheet

• List of any existing debts (loans, lines of credit, leases)

**For startups or newer businesses:**

• A simple business plan (one to two pages is fine for microloans)

• Personal financial statement

• Evidence of any contracts, orders, or letters of intent from customers

**For equipment or real estate loans:**

• Quote or invoice from the equipment vendor

• Property information and any existing appraisal

If you are missing some of these, don't let that stop you from making a call to a lender. A good community lender or CDFI loan officer will tell you exactly what they need and may help you prepare.