Matching capital investment support for your Kansas company.
GROWKS Equity Program FAQs
Kansas was allocated $69M in U.S. Treasury State Small Business Credit Initiative (SSBCI) dollars. The programs created as a result of the allocation are the GROWKS Loan Fund ($42M) and the GROWKS Equity Programs ($27M). The following FAQs are related to the GROWKS Equity Fund.
When will the GROWKS Equity Fund Launch?
The target launch date for the GROWKS Angel Capital Support Program is August 1st.
Who can apply for a GROWKS equity investment?
For-profit new or existing Kansas small businesses (less than 500 employees) with a project that benefits the community by increasing quality jobs, access to care, education, healthy behaviors, civic engagement, or provide other economic benefits to the community.
What Does a GROWKS equity project Look Like?
Another angel investor (private individual), angel investment fund, venture capital fund, or accelerator, is required to be part of the project, and the funding from the different sources should occur around the same time. GROWKS is for businesses seeking additional funds for startup costs and/or working capital. Deal terms for GROWKS funds must be on the same terms as the other private dollars.
What Does a GROWKS Equity Project NOT Look Like?
A project with no other equity or venture capital involvement will not be able to access the GROWKS Angel Capital Support Program. Projects that are considered passive real estate, participate in speculative activities and develop profits from price fluctuations, engage in illegal activities, are using the funds to purchase stock ownership, and/or if there are conflicts of interest with the business owner, the Applying Partner, or any family members.
What types of funding can be included as part of GROWKS project?
Private capital from an angel investor, angel investment fund, venture capital fund, personal injection or friends and family is required to be part of the project. The following will NOT count as match but can be part of the project: local or regional revolving loan funds (RLFs), NetWork Kansas loan funds, public sources of financing, or grants.
How do small businesses access the Application?
Potential applicants will be connected to a NetWork Kansas Partner. All projects will need to be connected to a Partner who can provide due diligence on the project. To discuss your project to determine eligibility and to be connected to a partner see contact information below.
How often will applications be accepted and/or reviewed?
Applications will be accepted and reviewed monthly by a designated statewide GROWKS Angel Capital Support Program Review Committee.
Where can I go for more information?
NetWork Kansas’s Entrepreneurial Growth Ventures (EGV) Team
(877) 521-8600 or firstname.lastname@example.org
or visit www.growks.com