For over 30 years, SCKEDD has helped business owners find solutions and strategies to help their small businesses grow. We understand that the need for capital rises when you start or expand your small business and we will be there to help you grow by providing access to various Small Business or Rural Business Development Loans. Many of SCKEDD’s direct loans provide the financing gap not filled by traditional bank and credit union lenders.

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Contact a SCKEDD professional today to help you determine which Small Business or Rural Development Loan Program is right for your project!

SBA Loan Programs

UPDATE: Rescission of Notice Rebranding the 504 and 7(a) Loan Program Names-effective March 7, 2017. (SBA announced on November 1, 2016 new names for its two core business loan programs. The renaming and rebranding of these loans is to better reflect their purposes and improve borrower understanding of SBA’s programs. The rebranding of the loan programs will roll out over time, during which time SBA will update its website, regulations, forms, etc. Due to the gradual introduction of the new names, some documents may continue to use the terms 7(a) and 504 during this transition period.)

SBA 504 Loan Program
This economic development loan program provides small business owners with financing for fixed-asset projects (real estate and long-term equipment) up to $5.0M while preserving working capital. This loan program puts such fixed-asset projects within reach for small businesses by requiring lower down payments than conventional financing and providing long-term, fixed-rate interest rates. It also reduces the risk to lenders through its structure as second mortgage financing.

SBA 7(a) Loan Program
SCKEDD provides loan packaging services to small business applicants for the SBA Standard 7(a) Loan Program. If you are working with your bank to secure additional funding for your business, the SBA 7(a) loan/guarantee may be the program you need.

SCKEDD Loan Programs

If you own or are in the process of starting a small business and your loan request is for $50,000 or less, and the total project debt does not exceed $150,000, you may qualify for a Microloan.

Revolving Loan Fund (RLF)
If your business needs call for less than $300,000, you may qualify for the Revolving Loan Fund (EDA).

Intermediary Relending Program (IRP)
If you own a business in a rural area or community with a population of up to 25,000 and you need a maximum of $250,000 in funds, you may qualify for this program.

Rural Microenterprise Assistance Program (RMAP)
This loan program is for small businesses that have modest credit needs and do not qualify for financing from traditional credit sources. Your business must be located in rural areas outside the City of Wichita.

Rural Business Development Loan Program
Businesses planning to create jobs with a business expansion, this program might be right for you. Loans available from $2,500 to $50,000. Your business must be located in a rural area or city with a population less than 50,000.

Business Loan through CDBG Grant

CDBG- Economic Development
If you plan extensive development of a business including land, building, machines and other equipment and create jobs in the process, you may qualify for Community Development Block Grant (CDBG) loan funds.