Missouri Small Community Working Capital Relief Loan Program
The Missouri Small Community Working Capital Relief Loan Program is designed to provide any Missouri city with a population of less than 25,000 access to an interim working capital operating loan to address projected General Fund or city-owned utility enterprise fund shortfalls due to COVID-19. The loans are being offered to assist cities in the maintenance of essential governmental services.
All loan proceeds must be used to replace tax, license, fees or other governmental revenues that have been lost due to COVID-19. Loan proceeds will be provided by the Board to the city’s General Fund. Borrowers may keep the proceeds in its General Fund, or transfer part or all proceeds to city-owned utility enterprise funds.
Each city will be required to represent that (a) the loan is necessary to avoid a reduction in essential governmental services, and (b) that due to COVID-19 it has lost taxes, license payments, fees or other governmental charges in an amount at least equal to the loan amount. The city cannot be in default on any currently outstanding bond or loan payments.
Applications must be received by August 31, 2020.
For additional information concerning the Program, please contact Kathleen Barney, Senior Portfolio Manager, at (816) 807-1170 or firstname.lastname@example.org; or email@example.com.