EDC Loan Corporation and Prospect Business Association Microloan Program Now Accepting Applications

In EDC Loan Corp by EDCKC Staff

EDCKC is now accepting applications for a new microloan opportunity.

Building on the over $2 Million in small business loans awarded by the EDC Loan Corporation, this program is a partnership with the Prospect Business Association, who will provide their business development services to awardees.

Funds can be used by qualifying businesses for any expense. Preference will be given to minority or woman-owned businesses or those operating in financially distressed communities.

Businesses must be for-profit entities located within Kansas City, Missouri that have existed for at least a year, employ no more than 10 employees, and have less than $150,000 in revenue. Other criteria is listed on the program page.

Loan rates and repayment terms are specific to each loan, though competitive rates of 3.5%–5% are offered. There are no penalties for prepayment and no minimum credit score is required.

To learn more and apply, visit the Microloan program page.