KANSAS CITY, Mo. — Kansas City, Missouri, Mayor Quinton Lucas announced the creation of the Kansas City Small Business Emergency Relief Fund on Wednesday.
The fund will provide loans to small businesses struggling to stay afloat during the COVID-19 pandemic.
A total of $500,000 in loans will be available to businesses with 20 employees or fewer, or businesses that made $750,000 or less last year.
A maximum of $25,000 in loans will be distributed to each business after they apply. The first six months to a year of the loan will be interest-free.
Interested businesses can apply for the loan by calling KC Source Link at 816-235-6500, by calling 311 and asking for the loan assistance, or by visiting the AltCap website, as the agency is helping to distribute the loans.
The relief fund was created last week with the passing of the 2020-21 city budget.