Downtown Investment Guide: Financial Programs
There are several programs to assist developers and entrepreneurs with financing in Downtown, including:
Springfield Finance and Development Corporation (SFDC)
- Gap financing for small business loans that might not be financed through conventional means.
City of Springfield
Small Business Administration
- 7(a) Program — The 7(a) Loan Program, SBA’s most common loan program, includes financial help for businesses with special requirements.
- Microloan —The Microloan Program provides small, short-term loans to small business concerns.
- CDC/504 — The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation.
Historic Tax Credits
- State of Missouri — up to 25% of eligible renovation expenses for owners of historic properties.
- Federal — up to 20% of eligible renovation expenses for owners of historic properties.
State of Missouri Economic Development Programs
- Enhanced Enterprise Zone — Enhanced Enterprise Zones offers 50% abatement for 10 years as well as saleable, refundable tax credits to any company creating jobs and making investments with in the boundaries of the zone. Additional abatement is offered for LEED-Silver certified facilities.
- Missouri Works — As the state’s number one incentive tool for expansion and retention, this program helps businesses access capital through withholdings or tax credits to embark on facility expansions and create jobs. This program can also help businesses purchase equipment to maintain its facility in Missouri.
- Missouri Department of Economic Development — The latest information on programs and services from the State of Missouri.