STATE
Grow Kansas
State
Loan amount available:
This program provides gap financing statewide to new and existing for-profit and non-profit businesses employing 500 or less.
Up to $100,000 available for most projects.
10-25% of project cost based on match.
10% up to $1 million cap
15% up to $250,000 cap
25% up to $250,000 cap
Interest rate:
4% fixed for term of 1-5 years
6% fixed for term of 6-10 years
Collateral:
Required; subordinate to bank
Primary eligibility requirements:
Approval of bank loan (private match)
Special features:
Timing – applications accepted monthly with loan decision within 30 days.
Applications required to be submitted by a resource partner, such as NCRPC.
Public disclosure of business receiving assistance is required, i.e. press release, web posting, etc.
Annual report from business required for the life of loan including updated employment, sales, and net income.
Kansas Department of Commerce
State
Business Incentives & Financing
The Kansas Department of Commerce provides a wide array of services for projects that help low- to moderate-income neighborhoods thrive. Projects range from sidewalks to community centers, youth job training programs, and much more. Visit kansascommerce.gov/business/incentives for more information
FEDERAL
U.S. Small Business Administration Programs (SBA)
Federal
SBA 7(a) Guaranteed Loan Program
Loan amount available:
Guaranteed bank loan up to $5,000,000
Interest rate:
Maximum limitation of Prime + 3%
Term:
7 years for working capital, inventory, and equipment 25 years for real estate
Primary eligibility requirements:
Bank participation (this is a bank loan guaranty program)
Special requirements:
Bonded contractor for construction projects over $10,000
Third-party appraisal for purchase of existing business
Special features:
75-85% guaranty up to $3,750,000 maximum guaranty
U.S. Small Business Administration Programs (SBA)
Federal
SBA Rural Lender Advantage 7(a) Guaranteed Loan Program
Loan amount available:
Guaranteed bank loan up to $350,000
Interest rate:
Maximum limitation of Prime + 3%
Term:
7 years for working capital, inventory, and equipment 25 years for real estate
Primary requirements:
Bank participation-this is a bank loan guaranty program
Special requirements:
Bonded contractor for construction projects over $10,000
Third party appraisal for purchase of existing business
Special features:
75-85% guaranty
U.S. Small Business Administration Programs (SBA)
Federal
SBA 504 Loan Program
Loan amount available:
30-40% up to $5,000,000 in rural area with secondary collateral position based on appraised value
Interest rate:
20 year fixed market rate
Term:
10 years for equipment with equal or greater useful life, 20 years for real estate
Primary requirements:
50% Bank participation in first collateral position
Special requirements:
Bonded contractor
Appraisal on plans/specs prior to submitting application
Working capital and inventory ineligible
Special limitations on using for equipment/furniture/fixtures
Special features:
10-20% cash down payment requirement, assuming appraisal doesn’t require additional cash.
U.S. Department of Agriculture Programs (USDA)
Federal
Disaster Resiliency and Recovery Resources A Guide for Rural Communities
The Resource Guide offers vital information on programs and services from RD and other agencies to assist rural businesses.
Find additional information here.
Economic Development Administration (EDA)
Federal
U.S. Economic Development Administration (EDA)
The EDA provides competitive grant funding to support long-term economic growth, job creation, and community resilience. Funding opportunities help communities invest in infrastructure, workforce development, innovation, entrepreneurship, and regional economic development strategies that strengthen local economies.
For more information, visit eda.gov/
Additional Business Financing
REGIONAL
NCK Business Down Payment Assistance Loan Program
Regional
Loan amount available:
$50,000 maximum/$5,000 minimum (subject to availability of funds).
Interest rate:
3% fixed for term/amortization of 5 years or less
5% fixed for term amortization of over 5 years
Term:
Based on project needs, up to 20 years
Primary eligibility requirements:
Minimum of 10% from Applicant/Borrower
Business projects that appear viable
Good personal credit history
Request for assistance from a bank with a physical location in the NCRPC 12-county service area
Special features:
Unsecured, with the owner as a co-borrower
NCRPC Revolving Loan Fund
Regional
Loan amount available:
$50,000 per job being created/retained - OR- one-third of the project cost, whichever is less; $20,000 minimum/$150,000 maximum loan amount (subject to availability of funds.)
Interest rate:
4% fixed
Term:
Based on project needs, up to 20 years
Primary eligibility requirements:
Construction projects require adherence to Davis-Bacon Wage Rate and ADA handicapped accessibility.
Prairie Land Electric Cooperative, Inc.
Regional
Loan amount available:
Up to 80% of project cost (subject to availability of funds)
Minimum loan amount of $5,000
Interest rate:
1%, see special features for other fees
Term:
1-3 years for working capital and inventory
5-7 years for machinery/equipment and furniture/fixtures
10 years for real estate
Primary eligibility requirements:
Letter of credit from bank equal to loan amount requesting from program.
Program not available in Dickinson, Ellsworth, Lincoln, Marshall, Ottawa, Saline, and parts of Washington Counties.
Special requirements/features:
Servicing fee of 1%
Annual letter of credit fee charged by bank
Rolling Hills Electric
Regional
Loan amount available:
Up to 80% of project cost (subject to availability of funds)
Minimum loan amount of $5,000
Interest rate:
1%, see special features for other fees
Term:
1-3 years for working capital and inventory
3-5 years for machinery/equipment and furniture/fixtures
10 years for real estate
Primary eligibility requirements:
Letter of credit from bank equal to loan amount requesting from program.
Program not available in Clay, Dickinson, and Marshall Counties.
Special requirements/features:
Servicing fee of 1%
Annual letter of credit fee charged by bank