EDC Loan Corporation (EDCLC) is a nonprofit corporation specializing in the origination and underwriting of SBA 504 loans and Revolving Loan Funds. Its mission is to help small business grow and expand through our loan programs in an effort to attract, expand and retain jobs.

SBA 504 Loans

SBA 504 loans are in partnership with third-party lenders including commercial banks, credit unions and other private lenders. The 504 Loan Program is an economic development tool guaranteed by the U.S. Small Business Administration (SBA). The 504 loan is serviced by EDC Loan Corporation, an SBA-approved Certified Development Company (CDC).

A 504 loan may be used for:
  • The purchase of land, including existing buildings
  • The purchase of improvements, including grading, street improvements, utilities, parking lots and landscaping
  • The construction of new facilities or modernizing, renovating or converting existing facilities
  • The purchase of long-term machinery and equipment
The 504 Loan Program requires three funding sources:
  • Third-party lender lending 50 percent of the total project cost at a market interest rate for a minimum term of 10 years. The lender receives a first lien on all project assets.
  • EDC Loan Corporation provides a SBA 504 loan that covers up to 40 percent of total project costs. The 504 loan interest rate is fixed for 20 years for real estate projects and 10 years for long-term machinery and/or equipment. The EDC Loan Corporation receives a second lien on all project assets.
  • Equity Requirement: An existing business (in operation for 2+ years) must provide a minimum of 10 percent of the total project cost.  New business or new ownership of business must provide a minimum of 15 percent of the total project cost.  If the project involves “special use” assets an additional 5 percent will be required.

To qualify for a 504 loan, applicants must be a for-profit company doing business (or propose to) in the United States. Click here to view additional eligibility requirements.

Click here for more information about the SBA 504 Loan Program.

Click here for SBA 504 Loan Application
SBA Rates

Revolving Loan Fund

The Revolving Loan Fund (RLF) assists small businesses with expansions to create and/or retain jobs in Kansas City, Missouri when conventional bank financing is not possible.

Banks typically have the first security interest and offer only 50 percent of the total financing for a project. Using a RLF allows a small business to proceed with an expansion that otherwise may not occur.

Funds for this program are provided by the U.S. Economic Development Administration.

Projects eligible for financing:
  • For-profit business
  • Not-for-debt refinance
  • Located within the city limits of Kansas City, Missouri

A project may not eligible for financing if credit is otherwise available on terms and conditions that would allow the project to proceed.

Click here for RLF Loan Application

EDC Loan Corporation Board Members:
  • Ajamu Webster, chair
  • Randall Landes, secretary
  • John Patrick
  • Marquita Miller
  • Peter Frankel
  • Robert Langenkamp
  • Jill Hathaway
  • Scott Wagner, councilman
  • Terry Riley
  • William Maher

To find out if the EDC Loan Corporation’s programs are the right fit for your business, please contact Dawn Kennedy, executive director.

EDC Staff
Dawn Kennedy
Dawn Kennedy

Executive Director
(816) 691-2111