816.691.2108
www.edckc.com
Loans for businesses with $7.5 million or less net worth and less than $2.5 million/year net income for the past 2 years.
Revolving Loan Fund (RLF)
This fund is for any for-profit small business in Kansas City, Missouri. Maximum loan amount is $150,000.
River Market Loan Fund (RMLF)
Business must be located in the River Market or Columbus Park area of Kansas City, Missouri. Maximum loan amount of $50,000.
Neighborhood Commercial Revolving Loan Fund (NCRLF)
Businesses in enterprise zones and low income zones. Maximum loan amount of $150,000; business must be located in Kansas City, Missouri.
The State defines an enterprise zone as:
- census tracts in which 51% or more of the population is at or below 80% of the area median income, as determined periodically by HUD;
- aiding in the prevention of slum and blight on either an area basis or in a designated urban renewal area; or
- meeting community development needs having special urgency.
Kansas City Minority Business Capital Revoving Fund (MBCF)Five county metro-wide area. This is the only fund EDC offers on the Kansas side. The business must be 51% ethic-minority owned. The maximum loan amount is $100,000.
SBA 504 Loan Fund, for Kansas City, MO businesses only.
Long term, fixed-rate financing to enable businesses to acquire real estate or machinery or equipment for expansion or modernization.
Small Business Loan Fund (SBLF)
Designed for small businesses planning fixed asset purchases of generally $1,000,000 or less. Overall financing structure is as follows:
- Bank provides financing equal to 50% of the project;
- EDC SBLF program finances 40% of the project up to $150,000; and
- Borrower is required to provide 10% equity.
Downtown Loan Fund (DLF)
This fund acts as a credit enhancement tool for retail businesses, locating Downtown, that are unable to obtain sufficient working capital through conventional lenders. The goal of the loan program is to assist these businesses with establishing a banking relationship on their own, independent of the DLF. The DLF can enhance collateral through equity or provide loans for sufficient working capital or tenant improvement capital.