Kansas City is the third-largest city in the U.S. state of Missouri and is the county seat of Jackson County. It is a consolidated city-county located in the western portion of the state, on the Missouri-Kansas border. According to the U.S. Census Bureau, the city had an estimated population of 488,943 in 2017, making it the 37th most-populous city in the United States. It is the central city of the Kansas City metropolitan area, which straddles the Kansas–Missouri border. Kansas City was founded in the 1830s as a Missouri River port at its confluence with the Kansas River coming in from the west. On June 1, 1850 the town of Kansas was incorporated; shortly after came the establishment of the Kansas Territory. Confusion between the two ensued and the name Kansas City was assigned to distinguish them soon after.
The city is composed of several neighborhoods, including the River Market District in the north, the 18th and Vine District in the east, and the Country Club Plaza in the south. Downtown almost always refers to Downtown Kansas City, Missouri, the historic center of Kansas City which includes the central business district and its adjacent neighborhoods. Downtown is bounded by the Missouri River on the north, the state line on the west, 31st Street on the south and the Blue River on the east. The River Market neighborhood is the oldest part of downtown, and was the city's original commercial center, known as the River Quay. The city has a strong presence of music and performing arts, especially jazz.
The economy of Kansas City is anchored by the service sector, with healthcare, government and professional services leading the way. The city is also a major transportation hub, with two major interstate highways, I-70 and I-35, intersecting in the city, as well as several smaller highways. The city is home to several large corporations, including Sprint, H&R Block, and Hallmark Cards. Kansas City is also a major center of the U.S. automotive industry, with General Motors, Ford, and Chrysler all having assembly plants in the city.
Comparing SBA loan types in Kansas City
Three SBA programs come up most often for Kansas City, Missouri businesses, and they do different jobs.
Small business loans available in Kansas City
An SBA 7(a) loan made to a Kansas City, Missouri business is made by a participating lender, not by the SBA. The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is which lenders are active, not the program rules.
Common uses here are the same as everywhere: working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and buying an existing business.
Insurance and closing
Most SBA lenders require hazard and, where the collateral is real property, property insurance in place before closing. See commercial property insurance for businesses and ways to ensure your SBA loan closes smoothly.
Getting started in Kansas City
Check the eligibility requirements, run the numbers with the SBA 7(a) loan calculator, then get financing and we will route your inquiry to lending partners.