Joplin Capital Corporation (JCC)
The purpose of the JCC is to:
- Act as a for-profit, multi-bank entity to facilitate economic development in Joplin’s economically underserved areas.
- Furnish “gap financing” providing small business loans and/or equity to entrepreneurs who cannot obtain a complete package of conventional financing.
Geographic Area
- The JCC will operate within the identified census tracts for low to moderate income as defined by the Department of HUD – more generally described as 26th St. North to about C St. and from Maiden Lane East to Connecticut Ave.
Eligible Applicants
- Existing small businesses
- Start up businesses
- New purchase of an existing small business
- Home-based businesses
- Investors in commercial real estate, primarily non-residential
Non-Eligible Applicants
- Organizations designated Not for Profit businesses
- Loans for consumer purposes, including owner and non-owner occupied residential real estate
- Businesses engaged in providing products or services of a prurient sexual nature
Loan Amounts
- The minimum and maximum loan amounts are $5,000 and $50,000.
Use of Loan Funds
- Purchase and/or rehabilitation of commercial real estate
- Real Estate Construction
- Purchase of Equipment
- Leasehold Improvements
- Working Capital
- Labor and Materials on specific contracts
- Acquisition of an existing business
- Other purposes deemed appropriate to meet the objectives of JCC
Participating Institutions
Arvest Bank…Stuart Puckett…627-8000
Mid-Missouri Bank…John Bass…782-4810
Commerce Bank, N.A….Mike White…626-4035
Community Bank & Trust…Lanny Drummond…624-3222
First State Bank…John Lopes…623-8860
Great Southern Bank…Monte McNew…627-3070
Hometown Bank…Bob Stark…782-0005
Southwest Missouri Bank…Mark Johnson…623-5959
UMB Bank, n.a….Jeff Johnson…781-1300
U.S. Bank, N.A….Clifford Wert…625-3203
APPLICATIONS AVAILABLE AT ALL PARTICIPATING INSTITUTIONS AND THE JOPLIN AREA CHAMBER OF COMMERCE.