UMKC Innovation Center partners with the university and the community to spark and sustain entrepreneurial efforts within our region and across the country.

KCSourceLink connects KC entrepreneurs to the right resource at the right time.

MOSourceLink connects Missouri entrepreneurs to the right resource at the right time.

Whiteboard2Boardroom connects entrepreneurs and businesses to technologies available for licensing.

Digital Sandbox KC provides early-stage proof-of-concept support for digital products.

Missouri Small Business & Technology Development Center provides technical assistance to startup and existing businesses.

ScaleUP! Kansas City helps businesses with revenues around $200K scale toward their first $1 million.

Missouri Procurement Technical Assistance Centers helps local businesses obtain government contracts.

KCInvestED helps investors learn more about investing in KC startups.

SourceLink® helps communities nationwide build vibrant and vital entrepreneurial ecosystems.
UMKC Innovation Center

Types of Loans Available

Commercial bank loans don't require entrepreneurs to turn over equity or company control.  In general, banks prefer to make loans of over $10,000.   Banks like to see:

  • Good credit
  • A solid business plan
  • Ability to repay the loan
  • Collateral

Line of Credit. An arrangement in which a bank extends a specified amount of credit to a specified borrower for a specified time period.  A line of credit is best suited to help cover expenses that tend to fluctuate throughout the course of a year. 

Home equity loans are a cost-effective alternative to other types of loans because they offer good interest rates available.  But you may not want to risk your family home to launch your business venture.  

Equipment lease financing gives you access to many types of equipment -- computers, copiers, fax machines, cars and trucks -- without tying up your cash or credit lines. Although it doesn't bring in cash, leasing reduces the amount of cash you otherwise have to raise to start.

Cash advances from credit cards are an easy and quick way to gain access to cash.  But as a long-term financing method, they can be expensive -- credit card interest rates typically run much more than you would likely pay on a bank loan. 

Factoring allows a company to "sell" its accounts receivables to an outside company at a discounted rate. This allows the company to receive funds immediately to fund operations and ease cash flow. Factoring is done by private companies.

Special Missouri Loan Funds
In addition to commercial loans available through local banks, there are a number of loan programs in Missouri that support special needs.

The SBA provides a summary of their loan products.

 

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