South Central Kansas Economic Development District
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Depending on your business need, our loan team will recommend which mid-size loan is the best fit for you.
The SBA and EDA loan programs provide funding options ranging from $50,000 to $350,000.
The US Department of Commerce is investing in the EDA program to provide more funding to small businesses across the state of Kansas.
Requirements
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Business must be located in one of the following fourteen (14) south central Kansas counties: Butler, Chautauqua, Cowley, Elk, Greenwood, Harper, Harvey, Kingman, McPherson, Marion, Reno, Rice, Sedgwick, or Sumner.
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Funding to foster job creation or retention
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For-profit business
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Individuals that own 20% of more of the business must be willing to act as personal guarantors
Rates and Fees
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Interest rates vary and will be estimated at the time of application
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Closing fee 2%
SBA Community Advantage
The SBA provides a mid-size loan option for small businesses seeking funds for startup costs and long-term working capital.
Requirements:
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For-profit business in Kansas
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The business is valued at less than $15 million and has an after-tax profit of less than $5 million a year, the average of two years
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Business owner will occupy 51% or more of the commercial real estate being renovated or purchased
Community Advantage loans help disadvantaged business owners.
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Business located in low to moderate income census tracts, empowerment zones, enterprise communities, or HUBZones.
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Businesses where more than 50% of the full-time workforce is low income or resides in low to moderate income census tracts
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Startups and business less than two years old
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Businesses that are more than 50% owned by veterans, minorities, or women.
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Rural business owners
Rates and Fees
Interest rates and fees vary and will be estimated at the time of application.