The purpose of MO-KAN Development Inc. is to promote and assist the growth and development of small businesses in Missouri and Kansas through the selection of recipients for loans guaranteed by the Small Business Administration and various revolving loan funds.
Eligible businesses are for-profit, tangible net worth less than $15 million, a net income after taxes less than $5 million, and fewer than 100 employees.
The loan monies may be used for the purchase of fixed assets; such as land, buildings, and equipment or working capital for renovations, expansions or inventory. Ineligible businesses include those relocating out of the 7 county area, churches, not-for-profit concerns, gambling establishments, and illegal businesses.
The maximum amount of a loan is $200,000. The loan monies may be combined with another loan fund.