The City of Wichita announced its new PROPEL loan fund program Thursday for Wichita City Council District 1 business owners. The program is designated to help minority and women-owned businesses with access to a low-interest and short-term loan. Business owners in District 1 will have to meet eligibility requirements determined by the city and and must apply for the program. Owners can receive up to $15,000 in loan funds at an interest rate of about 3%. The loan must also be repaid within 36 months. “PROPEL stand for providing resources and opportunities for proprietors, entrepreneurs and lenders…”
Source: KAKE – News
