EDC Loan Corporation (EDCLC) is a nonprofit corporation specializing in the origination and underwriting of 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.
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.
EDC Loan Corporation Board Members:
- Terry Riley, chair
- Randall Landes, secretary
- John Patrick
- Marquita Miller
- Peter Frankel
- Robert Langenkamp
- Jill Hathaway
- Scott Wagner, councilman
- Ajamu Webster