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Four Rivers Development, Inc.
(an SBA Lender Service Provider)
Four Rivers Development, Inc. (FORDI) is a source of reasonably priced expert financial service available to individuals in North Central Kansas needing assistance in finding funds for purposes of establishing or expanding a business. Formed in
1983 as a not-for-profit organization, FORDI is active in the following counties: Cloud, Dickinson, Ellsworth, Jewell, Lincoln, Mitchell, Ottawa, Republic, Saline and Washington. The organization has successfully located to-date a total of $50 Million for almost
300 businesses in the region specified, leading to the creation or retention of over 1,700 jobs.
FORDI offers financing assistance to business and industrial entities including start-ups, expansions, or purchase of existing business. Business/Bank use FORDI services to review loan feasibility, evaluate what special financing programs are available to the project, and to prepare the application(s) to the special financing
program(s).
Some of the special financing programs accessed include:
- SBA 7(a) Guaranteed Loan
Program
- SBA 504 Loan Program
- Revolving Loan Funds available in our 10
counties:
- North Central Regional Planning
Commission
- NCK Business Development
Fund
- City of Concordia
- City of Herington
- Jewell County Community
Development Association
- Republic County Development
Association
- Rolling Hills Electric
Cooperative, Inc.
- Kansas Department of Commerce Community Development Block Grant-Economic Development Category
- Kansas Department of Commerce-Value Added Equipment Loan Program
- Rural Development Business & Industry Loan Program
- Rural Development Rural Economic Development Loan Program
- Kansas Center for Entrepreneurship StartUp Kansas Program
Benefits of using FORDI:
- FORDI provides opportunities for economic development by allowing lender to utilize special programs to mitigate risk.
- FORDI is aware of various program requirements in determining which is best suited for proposed project.
- FORDI will review feasibility of obtaining financing at no charge.
- FORDI prepares a complete loan package resulting in a timelier loan decision.
- FORDI works with business and lender through every stage of the process, from qualification and approval, through the closing of the loan.
One of the financing tools provided by FORDI is the NCK Business Development Fund. The purpose of the Business Development Fund is to enhance both job creation and job preservation in the 10 counties it serves. The Fund has a capital base of
$575,000. Maximum participation in any project is $30,000. The loan program will seek to provide gap financing for business projects that appear viable and feasible, but have some credit weakness(es) preventing the bank from approving the entire request. Examples including:
- start-up nature of business
- insufficient down payment/equity
- repayment based on projected earnings
- insufficient collateral
For more information, please contact Debra Peters, General Manager at (785) 823-6106. |
