For all RMI programs, an applicant is not eligible if past due on child support and student loans or if delinquent on taxes. RMI serves all of Missouri outside of Jackson, Cass, Clay and Platte counties.
$50,000 - $2 million Long term, fixed-rate financing to enable businesses to acquire real estate or machinery or equipment for expansion or modernization.
Intermediary Relending Program (IRP)
$500 - $250,000 or 75% of total project cost, whichever is less. Funds may be used for fixed assets, working capital or inventory. Those eligible are for-profit businesses in non-metro areas, with a population of 25,000 or less. Non-eligible projects include recreational / amusement facilities and most agricultural production (there are some exceptions such as commercial nurseries, forestry, livestock and poultry processing, and the growing of mushrooms & hydroponics).
Microloan funds cannot be used for projects valued at over $105,000. Monies may also be used for gap financing, which is when there is a gap between what a financial institution is able to lend and the amount that a borrower needs.
The following businesses do NOT qualify:
- nonprofit organizations
- consumer and marketing co-ops
- academic institutions
- gambling concerns
- floor planning concerns (i.e., wholesale auto inventory
- speculative concerns
- lending or investment institutions
- multilevel marketing or pyramid sales
The following applicants are NOT eligible:
- convicted of a civil or criminal offense
- past due on school loans
- past due on child support payments
- notified in writing by federal government that he/she is not
- eligible for federal loan programs
Rural Business Enterprise Loan (RBEL)
$1,000 - $50,000. Fund may be used for fixed assets, working capital or inventory. Those eligible are businesses in Missouri non-metro areas, with a population of 25,000 or less. Loan requires a 1-to-1 match from outside sources. Ineligible projects include hotels and recreation/amusement facilities.