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Financing Your Project
The Small Business Administration’s 504 loan program provides financing assistance for small businesses making fixed asset investments, for projects ranging from $125,000 to several million dollars, which will create or retain jobs. With a 504 loan, a business obtains long-term financing at a fixed rate with a low down payment, typically 10%….
The EDC Revolving Loan Fund (RLF) is a good alternative for small businesses planning to spend less than $500,000 for fixed assets. Typical financing structure is 10% equity, 50% from a commercial bank, and 40%, up to $200,000, outstanding per borrower, from the RLF….
The Brownfield’s Cleanup Revolving Loan Fund (BCRLF) was established September 24, 2000, by a Cooperative Agreement with the City of Kansas City, Missouri, and is funded by a $500,000 grant from the U.S. Environmental Protection Agency. Eligible borrowers…
The River Market Loan Fund (RMLF) provides financing for fixed assets and/or working capital to businesses located in the River Market area with boundaries of the Missouri River on the north, Beardsley Road on the west, I-70 on the south and I-35/29 on the east. The maximum loan per borrower and affiliates is $50,000 and, if the project is less than $25,000, a private lender is not required….
The Neighborhood Commercial Revolving Loan Fund (NCRLF), a City-initiated and funded program, is designed to assist small businesses in Kansas City, Missouri, with building acquisition and improvement and acquisition of machinery and equipment in neighborhoods in need of revitalization…
Chapter 100 Bond Financing
The City of Kansas City can issue taxable bonds to assist with the construction or rehabilitation of eligible commercial facilities. The City takes formal ownership of the business assets and therefore provides property (real and personal) and/or sales tax abatement for up to 10 years.
Industrial Revenue Bonds
A local Chapter 349 Industrial Development Corporation can issue either taxable or tax-exempt bond financing of fixed assets for eligible businesses; however, unlike Chap. 100 bond financing, no property tax abatement is available through the Chapter 349 program. The Missouri Development Finance Board can also issue tax-exempt bond financing for manufacturing and other IRS permitted projects. Additionally, property tax abatement may also be available if the MDFB owns and leases the property to the eligible business.
- Spotlight on Ed Ford, City Councilman and EDC Board MemberBy EDCKC Staff on May 16, 2013