Stimulus Funding

The stimulus package, also called the American Recovery and Reinvestment Act, that President Obama signed into law in February of 2009 is large and complex.  Here is some information to help you understand what parts affect small business owners.

General Information on the package:

• American Recovery and Reinvestment Act of 2009: How are small businesses affected?

• IRS website: Contains information on payroll checks, municipal bonds, first-time homebuyer credits, COBRA benefits and more

• Guide to Stimulus Package Details from the Office of Congressman Cleaver, II: Contains information on the recipients of the stimulus monies, the amount, type, agency and purpose of the monies. Also notes if Missouri is due to get a certain percentage of the monies.

• 6 Ways To Speed Up SBA Loan Approval: SBA-backed loans will revert back to their pre-Recovery Act status by late November or early December. This article from The Wall Street Journal explains ways to speed up the approval of your loan. NEW!

Small Business Administration:

• SBA Economic Stimulus Briefing: This eight minute slideshow presents an overview of the tax incentives available to small businesses as a result of the stimulus package.

• EDC Loan Corporation: This June news release explains new debt refinancing opportunities through the 504 Loan Program as announced by the SBA Administrator.

• ARC Loan Program: There is a new SBA loan, the ARC Loan, that is a no interest loan to cover debt payments. The America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship to help ride out the current uncertain economic times and return to profitability.  Each small business is limited to one ARC loan.

• American Recovery and Reinvestment Act: What's In It For Small Business?
  This document gives an overview of the provisions in the Stimulus bill that the SBA can use to work with small business owners.

• EDC Loan Corporation: Stimulus package details are finalized.  This March news release explains how the SBA 504 loan program is affected. 

• EDC Loan Corporation: This April news release explains the details of the 504 Loan now that there are virtually no transactions fees involved.

• Heartland Business Capital: News regarding the 504 loan

Missouri Opportunities:

• Missouri Economic Recovery Guide: This is a page on Senator Claire McCaskill's website. There is a map that tracks grants that have been awarded to local agencies. Also, the website lists the federal agencies that will be dispersing grant money to local entities and explains how the programs are to be implemented.

Kansas City Opportunities:

• City of KCMO website: The City of KCMO has a webpage devoted to helping contractors bid on Property Preservation Division projects.

• Mid-America Regional Council website: MARC has a section of their website dedicated to providing information on the opportunities available to access stimulus funds and the responsibilities that go along with it.