SEED$ offers financing and technical assistance for startups and existing small businesses. We currently have loan funds available from a variety of sources, including First State Community Bank, Iron County Economic Partnership, Washington County IDA, St. Francois County Industrial Development Authority, US Bank, U.S. Department of Agriculture Rural Development, and the U.S. Department of Health and Human Services (HHS) provided by the Missouri Department of Social Services, Family Support Division.
SEED$ has a loan officer located at our office in Park Hills.
SEED$ follows a strict criteria for business lending and financing. However, our guidelines allow consideration of loans that are outside of typical bank requirements.
SEED$ BUSINESS FINANCING OPPORTUNITIES
Micro Loans for startups, existing and growing small businesses in Bollinger, Cape Girardeau, Iron, Madison, Perry, St. Francois, Ste. Genevieve and Washington counties.
Loans range from $5,000 to $50,000
Small Business Loans for startups, existing and growing small businesses in Bollinger, Cape Girardeau, Iron, Madison, Perry, St. Francois, Ste. Genevieve and Washington counties.
Loans range from $50,001-$100,000
Examples for use of proceeds:
· Machinery
· Equipment
· Working capital
· Leasehold improvements
· Real estate acquisition or rehab
application fee $100 non-refundable
Origination fee 1% at closing
Examples of items lenders need to consider a small business loan:
- Financial statements (Balance sheet, Profit & Loss Statement, cash flow)
- 3 year cash flow projection
- Last 3 years tax returns
- Business plan
- Articles of Incorporation or equivalent formation documents
- By-Laws or Equivalent (LLC Operating Agreement, Partnership Agreement)
- 501 (c)3 Tax Exempt status letter (if applicable)
- Property Description: copy of lease, location maps, photos, site plans/floor plans
Financial Analysis
· Access to industry data (show how your business compares to others in your industry.)
· Financial analysis reports can be used to better understand your business’ financials.
· Use is to develop risk management solutions.
· Helps you make better financial decisions.
Sources of Credit and Financing
SEED$ Revolving Loan Fund
Meramec Regional Planning Commission (for Washington county)
Southeast Missouri Regional Planning Commission (Bollinger, Cape Girardeau, Iron, Madison, Perry, St. Francois and Ste. Genevieve counties)
Small Business Administration – Check sba.gov for a list of SBA lenders near you.
Justine Petersen– Credit Building, Homeownership, Consumer lending and small business loans
SEED$ does not offer the following types of loans:
· Construction loans (other than rehab loans for projects of $25,000 or less)
· Lines of Credit
· Personal loans