GPDI Loan/Grant funding sources

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GPDI provides certified grant administration and grant writing for CDBG through the Kansas Dept. of Commerce. 

• Loan to grant sponsored by city or county
• Minimum $100,000 to maximum $750,000
• Must create or retain low/moderate income jobs
• One full-time job per $35,000 of loan 
• Environmental required
• Retail infrastructure: 1/2 payback, 10 years, 0% interest
• Non-retail infrastructure: 1/4 payback, 10 years, 0% interest
• Cannot be combined with other CDBG funds

Grants for infrastructure, community centers, streets, bridges and handicapped accessibility and others. Projects must benefit low/moderate income persons. 

Projects resulting from a recent, sudden and severe natural or other disaster, which pose serious and immediate threat to the health and welfare of the community. Low/moderate income not required. 

• Programs for housing rehabilitation or demolition, or combined rehabilitation/demolition
• Must benefit 100% low/moderate income persons

• Community infrastructure grants for business development
• EDA requirements must be met
• Grant requires developing business or industry to increase employment and control or abate pollution

• Municipality grants and/or loans
• Equity injection required
• Business and industry (B&I) loans to businesses

SBA 504 Loan Program (not administered by GPDI)

• Available for fixed asset purchases only, such as land, building, new construction, machinery and equipment. May need to meet job creations, public policy and other guidelines
• Loan structure: 50% lending institution, 40% SBA 504, 10% Borrow (new or special purpose up to 20%)
• Advantages: Low down payment, long-term financing - 10, 20 or 25 years, up to 90% financing, fixed interest rate on 40% of the project, GPDI completes all SBA paperwork

SBA 7(a) Guaranty Loan Program (not administered by GPDI)

• Available for inventory, working capital, equipment, land, building, etc. Program requires direct participation from financial institution, guaranteed by SBA, 85% guaranty for loans of $150,000 or less. 75% guaranty for loans greater that $150,000 (up to $3.75 million maximum guaranty). Express Loan 50%
• Advantages: Up to 25 years real estate 10 years equipment, loans under $150,000 have no fees and express process, $150,000-$700,000 3% on guaranty portion, more than $700,000 3.5%, additional fee 0.25% on guaranty portion more than $1 million, maximum loan $5 million gross 25-30% equity injection required (cash/assets of business), interest rate variable not exceeding 2.75% above prime rate if seven or more years. 

• Eligible counties include: Barber, Barton, Clark, Comanche, Finney, Ford, Grant, Gray, Greeley, Hamilton, Haskell, Hodgeman, Kearny, Kiowa, Lane, Meade, Morton, Ness, Pawnee, Pratt, Rush, Scott, Seward, Stafford, Stanton, Stevens, and Wichita. 
• Working capital, inventory, equipment, machinery, fixed assets
• Loans to $150,000

• Available to businesses with gross sales less than $1 million
• Working capital, inventory, equipment, machinery, fixed assets

Funds for working capital, inventory, equipment, machinery, fixed assets up to $150,000

• GROWKS:  GROWKS Starter loan match up to 200% of bank loan with $100,000 cap, statewide. Growth loan match up to 25% of bank loan with $250,000 cap, statewide. Target Sector loan match 10% of bank loan with $1 million cap, statewide, for specific industries. All loan options 4.000% fixed one to five years, 6.000% fixed six to 10 years.  Has requirements. NEW.
• E-Community: $45,000 tax-credit based programs in ten southwest Kansas cities including Great Bend, Hoisington, Liberal, and counties including Edwards, Kiowa, Morton, Finney, Greeley, Ford ($75,000), Hodgeman, Pawnee, Scott, Stafford, Wichita
• StartUp Kansas: Business projects. Requires matching funds. (discontinued)
• Kansas Multiplier Fund: 9% of project with $100,000 cap. Minority/Women owned businesses up to 20% of project. (discontinued)
• Kansas Community Investment Fund: Match to $150,000
• Kansas Healthy Food Initiative: Collateralized; 5% injection. No limit and can be completed without partner
• EDA COVID RLF: 1/3 match up to 15 years. Counties of Clay, Douglas, Franklin, Jackson, Jefferson, Johnson, Leavenworth, Lyon, Marshall, Miami, Morris, Nemaha, Osage, Pottawatomie, Shawnee, and Wabaunsee. May stand alone with bank denial. (discontinued)

• Funds are available through the: Cities of Dodge City, Garden City, Great Bend, and Spearville; Counties of Barton, Edwards, Finney, Ford, Hamilton, Hodgeman, Meade, Pratt, Pawnee, Rush, Scott, Stanton. 
• Must create or retain 51% LMI jobs. 
• City/County sets term and interest rate. 
• 4% minimum, $100,000 ED/LRLF max, 33% local fund match, $15,000-$25,000 Ml/RLF max, match required over $15,000

• Committees/governments disburse entire loan and set interest rates and terms. 
• Available to businesses with gross sales less than $1 million. 
• Multiple fund uses
• EZ/EC in Wichita County

• Available through local private/public funding groups in Barton, Ford, Finney, Pawnee, Pratt, and Wichita counties.  Cities of Larned, Pratt, Great Bend, Garden City.
• Loan requirements and terms may vary.