Missouri has a fantastically low tax rate, making it an appealing state to start a business. If you’re considering launching your new venture in Missouri—or you already own a Missouri-based biz—take a peek through the list below. These business grants and loans are only available to businesses that operate in Missouri. Get started!
Department or Agency: Missouri Department of Economic Development
Loan or Grant title: Business Use Incentives for Large-Scale Development (BUILD)
This government initiative provides low-interest loans to businesses by issuing tax-exempt revenue bonds. Funds can be used to buy, build, and equip new facilities. Here are the basic eligibility requirements: Businesses in the manufacturing, processing, assembly, research and development, agricultural processing, or interstate-commerce industries will need to invest at least $10 million into the project. The business will also need to create at least 100 new jobs at the project facility within three years. Businesses in the office industry will need to invest at least $15 million and create at least 500 jobs. If the project is in an office industry located within a distressed community, the business will need to create at least 200 new jobs.
Department or Agency: Economic Development Corp. of Kansas City Loan Corporation (EDCLC)
Loan or Grant title: Microloan Program
The EDCLC provides loans of $3,000 to $15,000 for private, for-profit businesses. To qualify, the business must be at least one year old, based in Kansas City, Missouri, employ ten or fewer workers, and meet other criteria. Funds can be used for a variety of business purposes, such as working capital, purchasing inventory and supplies, covering payroll, training employees, and covering seasonal expenses.
Department or Agency: Economic Development Corporation of Kansas City Loan Corporation (EDCLC) and the U.S. Economic Development Administration
Loan or Grant title: Revolving Loan Fund
The Revolving Loan Fund provides loans to for-profit businesses that can’t get conventional bank financing and plan to expand or create jobs in the area. To qualify, the business must be at least two years old and be located in Kansas City, Missouri.
Department or Agency: City of Springfield Economic Vitality
Loan or Grant title: Business Development Loan Program
This program provides loans to small businesses, nonprofit organizations, and real estate developers to create employment opportunities and improve select areas of Springfield. The loan funds can be used for property and building acquisition, historic preservation, new construction, rehabilitation, and more. Projects must: Benefit low- and moderate-income households; create new jobs for people who were low to moderate-income at the time of hiring; create at least one full-time equivalent job for each $35,000 borrowed; and improve or eliminate slums or blighted conditions within the target area.
Department or Agency: City of Springfield Economic Vitality
Loan or Grant title: Micro Enterprise / Business Incentive Loans
Businesses in Springfield with five or fewer employees can apply for the Micro Enterprise / Business Incentive Loan. They can use the funds for equipment, furniture and fixtures, infill improvements, various start-up costs, merchandise inventory, and working capital.
Department or Agency: Missouri Technology Corporation (MTC)
Loan or Grant title: TechLaunch Program
This program provides up to $100,000 for companies that have raised less than $250,000 to develop technologies and create jobs. Missouri-based companies may qualify if they’re in the pre-seed financing stage, have a lender willing to match funds, and have proprietary or protectable intellectual property. The company must also fit into one of MTC’s five focus areas.
Department or Agency: Missouri Technology Corporation (MTC)
Loan or Grant title: Seed Capital Program
This program provides up to $500,000 of seed funding to companies that have already raised between $500,000 and $2 million. Companies should be in the research and development stage or identifying early “adopter customers.” Funds can be used to develop the company and product, ideally to attract investments from venture capital groups. Missouri-based companies may qualify if they’re in the seed-financing stage, have a lender willing to match funds, and have proprietary or protectable intellectual property. The company must also fit into one of MTC’s five focus areas.
Department or Agency: Missouri Technology Corporation (MTC)
Loan or Grant title: Proof of Concept Program
This program funds Missouri-based early-stage entrepreneurs developing technologies and innovative products and solutions with high-growth potential. MTC will make equity investments ranging from $25,000 to $50,000 to eligible Missouri-based companies that fall into one of MTC’s seven focus areas: Biomedical & Life Sciences, Healthcare Technology & Services, Financial Technology & Services, Software & Data, Energy, Manufacturing, Supply Chain & Logistics.
Department or Agency: Missouri Technology Corp.
Loan or Grant title: Venture Capital Program
This program provides up to $2 million of growth funding to companies that have already raised between $5 million and $20 million. Funds should be used to attract additional venture capital funds and accelerate the company’s growth. Missouri-based companies may qualify if they have a lender willing to match funds, have proprietary or protectable intellectual property, and fit into one of MTC’s five focus areas.
Department or Agency: Missouri State Treasurer
Loan or Grant title: Missouri Linked Deposit Program for Small Business
The Missouri Linked Deposit Program for Small Business provides low-interest loans to small businesses to help them grow. To qualify, businesses must be headquartered in Missouri and employ fewer than 100 full-time employees. Funds can be put toward inventory, equipment, professional fees, rent, renovations, and land or building purchases.
Department or Agency: Missouri State Treasurer
Loan or Grant title: Missouri Linked Deposit Program – Job Enhancement
The Missouri Linked Deposit Program provides low-interest loans to businesses that create high-quality jobs in Missouri. Eligible businesses include new, existing, or expanding firms operating in Missouri that employ ten or more employees on a yearly average, and create at least one permanent full-time job (32 or more hours per week) during the deposit period for each $50,000 borrowed in the Missouri Linked Deposit Program.
Department or Agency: Missouri State Treasurer
Loan or Grant title: Missouri Linked Deposit Program – Alternative Energy
The Missouri Linked Deposit Program provides low-interest loans to businesses involved in alternative energy growth or development. To be eligible, a business needs to be headquartered in Missouri and be engaged in the production, sale, or use of fuel or power from energy sources other than fossil fuels, like solar, hydroelectric, wind, and qualified biomass.
Department or Agency: Missouri State Treasurer
Loan or Grant title: Missouri Linked Deposit Program – Farming Operation Program
The Farming Operation Program gives established farmers low-cost operating funds for production expenses, including equipment purchases, rent, wages, livestock, feed, fertilizer, chemicals, repairs, and more. Eligible farmers must be headquartered in Missouri, have fewer than ten employees, and have a projected farm income greater than their personal income.
Department or Agency: Missouri State Treasurer
Loan or Grant title: Missouri Linked Deposit Program – Beginning Farmer Program
The Beginning Farmer Program gives loans to new or part-time farmers who want to build up to being full-time. They can use the funds for the purchase of agricultural land, farm buildings, new and used farm equipment, livestock, and working capital. To qualify, they need to be located in Missouri, have adequate farming experience, and have not owned acreage in excess of 50% of the average size farm in the county they are farming in, or own farmland with an appraised value over $450,000 in the previous five years.
Department or Agency: Missouri State Treasurer
Loan or Grant title: Missouri Linked Deposit Program – Guaranteed Agribusiness Program
The Guaranteed Agribusiness Program gives low-cost funds to value-added agriculture ventures approved by the Missouri Agriculture and Small Business Development Authority’s Value-Added Loan Guarantee Program. To qualify, businesses must be headquartered in Missouri and have a Have MASBDA certificate of qualification.
Department or Agency: Missouri State Treasurer
Loan or Grant title: Missouri Linked Deposit Program – Guaranteed Livestock Operations Program
The Guaranteed Livestock Operations Program provides low-cost funds for the production of livestock or poultry in an authorized farm corporation, family farm, or family farm corporation. To qualify, businesses must be headquartered in Missouri and have a Have MASBDA certificate of qualification.
Department or Agency: Missouri State Treasurer
Loan or Grant title: Missouri Linked Deposit Program – Facility Borrower Program
The Facility Borrowers Program allows a development facility or renewal fuel production facility borrower to apply for a reduced loan rate. Funds may be used to finance new costs associated with facilities producing either a good derived from an agricultural commodity or using a process to produce a good derived from an agricultural product. To qualify, businesses must be headquartered in Missouri, have a MASBDA certificate of qualification, and be a facility with 12 or more producer members.
Department or Agency: Missouri Department of Economic Development
Loan or Grant title: MO STEP=UP
The Missouri State Trade & Export Promotion=Unlimited Opportunities (MO STEP=UP) program offers small businesses grants to fund qualifying international export activities. To qualify, businesses need to have fewer than 500 employees, be in business for one year or more, and be export-ready.
Department or Agency: Economic Development Corporation of Kansas City
Loan or Grant title: Kansas City Small Business (KC SMB) Capital Program
The Kansas City Small Business (KC SMB) Capital Program offers grants from $10,000 to $25,000 to small Missouri businesses that need help growing. They can put the funds toward overhead costs, renovation, technology, professional services, inventory, equipment, and more.
To be eligible, you must be based in Kansas City, have been operating prior to January 1, 2023, and have ten or fewer employees.
