Economic Opportunity Louisiana Missouri: business tax incentives, industrial opportunity, relocation, economic development, expanding business, industrial park

Incentives - Financing

Financing

SBA 504 – CERTIFIED DEVELOPMENT COMPANY LOANS
This program was designed to assist companies obtain long term financing for the acquisition of land and buildings, construction, expansion or renovations, and purchase of equipment. This program is designed for small business. SBA’s definition of small business is a company with not over $2,000,000 after tax profit a year, for the last two years, and owner’s equity not over $6,000,000.

INDUSTRIAL REVENUE BONDS
Provides long-term, low rate financing of fixed assets.

MISSIOURI FIRST LINKED DEPOSIT FOR NEW JOBS
This is a linked deposit program the State of Missouri offers to reduce the interest rate on loans obtained by Missouri businesses that are creating new jobs in Missouri. This program provides a one year 3% interest rate reduction on a private loan, limited to $25,000 per job.

MISSOURI FIRST LINKED DEPOSIT FOR SMALL BUSINESSES
This is a linked deposit program the State of Missouri offers for small businesses. The program is designed just as the “Missouri First Linked Deposit For New Jobs,” except for the eligible criteria. A company must have less than ten employees, be headquartered in Missouri, be an existing company and be operating for profit. The loans are available for working capital and the maximum amount available is $100,000.

MICROENTERPRISE LOAN PROGRAM
Provides peer review loans from $500 to $7,500. The institution-based loan program awards loans up $15,000 to businesses employing fewer than ten people and range from $7,500 to $15,000 each.

LOAN GUARANTEES
Designed for “middle risk” credits which have good growth potential, but cannot obtain private credit financing. This is limited to a maximum, by using two programs, of $400,000-800,000 or 90% of the loan (MEDEIB and CDBG Program).

MISSOURI CAPITAL ACCESS PROGRAM
Helps finance early-stage business ventures which have difficulty acquiring conventional financing. The program helps decrease the risk by spreading possible losses between the lending institutions, the borrower and the state. Both the lending institution and the borrower deposit 1.5% to 3.5% of the loan principle into a loss reserve account, which is then matched by the state.

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LOCAL TAX INCENTIVE
CHAPTER 353 REAL PROPERTY TAX ABATEMENT Provides for limited tax relief. Upon agreeing to undertake a project and acquiring the project property, a redevelopment corporation for a ten year period pays taxes on the property equivalent to those paid on the “land only” during the preceding year. For the next 15 years taxes on both land and improvements are based upon no more than 50% of the normal assessed valuation. The incentives are limited to real property taxation. The development continues to pay personal property taxes, gross receipts taxes, and other assessments at full assessed valuation. Chapter 353 also provides for “payments-in-lieu of taxes” to be paid on existing property improvements.
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	The Mayor's Office of Economic Development 202 South 3rd Street, Suite 207 Louisiana, Missouri 63353 Phone: 573.754.6485 Email