What We Do
To ensure a thriving community with livable wage jobs and
long-term and social viability...
KCCDC provides affordable loans that are gap financing, technical
assistance on business plans and other small business issues,
SBA loan packaging to community banks without SBA departments,
and liaison assistance between business owners, community
organizations, government agencies, banks, and other third-party
lenders. In some cases this will mean referring businesses in
need of management or other services to other technical assistance
providers.
Gap Financing
In cooperation with the banking community, KCCDC can offer
financing that bridges the gap between what your business needs
and what the bank will directly loan. This is called Gap Financing.
Small business owners may obtain gap financing from KCCDC for
building or equipment financing, purchase of inventory, and
permanent working capital.
KCCDC requires bank participation of at least 50%.
Selection Criteria
The business must create or retain at least one full-time permanent
job under HUD’s Low-to-Moderate Income Guidelines. Lower-
income people must benefit from 51% of jobs or provide products
or services to reidents of a low-income area. Borrower must
demonstrate sufficient cash flow to repay the loan.
Technical Assistance
KCCDC works with the Small Business Development Center to
provide many resources to help small business owners. These
services are free. It includes help on developing a business plan
and presenting a loan application to a bank.
SBA Loan Packaging
KCCDC will do the loan packaging for 7(a) SBA loans for a fee to
the borrower. This is a service to community banks that are not
experienced in SBA lending.
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