Small Business Administration Grants First License to JCCDC to Expand Loan Services in Kansas and Missouri.

Overland Park, KS March 26, 2004 -- Johnson County Certified Development Company (JCCDC) is the first development company in the Kansas City area to receive certification by the Small Business Administration (SBA) to expand the SBA 504 Loan services to both states. The SBA504 Loan Program is a targeted economic development tool that provides long-term, fixed rate, low down payment loans for small businesses.

JCCDC is one of the largest SBA 504 Loan Program providers in Kansas City. It has been based in Johnson County for the past fifteen years. The decision by the SBA in October 2003 to remove exclusivity and encourage competition among providers means JCCDC can expand its services outside of Johnson County and process loans throughout Kansas and in nine counties in Missouri. Those counties include Cass, Clay, Jackson, Lafayette, Platte, Bates Caldwell, Clinton and Ray. The SBA granted JCCDC's approval for expansion this month.

JCCDC already is one of three SBA 504 Loan Program providers in the metro area to participate in the SBA's accredited lender program ("ALP"), which provides for expedited loan processing closing and servicing for qualified businesses.

"Small business does not stop at the state line," said David Long, executive director of JCCDC. "Now we can offer this vital small business financing tool on both sides of the state line. Small businesses and their banks now have more options."

The SBA504 loans help insure small businesses access to credit. SBA 504 loans typically are used by existing small businesses that are expanding and want to move from leasing a facility to purchasing or constructing a building. The SBA 504 Loan Program also is unique because it's used to stimulate economic development either by creating new jobs or meeting other community or national development criteria. The SBA 504 Loan Program is advantageous to small business because it offers long term financing.

JCCDC has helped many area businesses expand their business through the use of the SBA 504 Loan Program. JCCDC used the SBA 504 Loan Program for financing the first Sheridan's Frozen Custard when it was built near 75th and Metcalf in Overland Park. "Finding partnerships to drive your business forward is very important," said Jim Sheridan of Sheridan's Frozen Custard. "I'm very pleased to see JCCDC's expansion. David was very instrumental in Sheridan's growth from the beginning."

Western Chandelier Company, a long time Kansas City company established in 1898, expanded its business into Overland Park with the help of JCCDC and the SBA 504 Loan Program. Hillside Village, a nursing home and assisted living center in DeSoto, KS, brought development and expansion of jobs to that community through the use of a 504 Loan Program.

The Johnson County Certified Development Company, a not-for-profit organization originally formed in 1987 by fifteen banks and the Johnson County Board of County Commissioners, lends money to expanding businesses in the Kansas City area through the SBA 504 Loan Program. The fixed asset loans provide companies a fixed interest rate, long terms and low down-payments for expansion that create jobs in the area. In addition, the JCCDC works with businesses to facilitate financing through SBA's numerous other loan programs, including the traditional SBA 7(a) loan program and the innovative Lo-Doc program.

Economic development lenders like JCCDC help bankers understand the differences between the various SBA loan offerings and how they best can be packaged for small businesses. "David has been extremely helpful because he provides insight and ideas on how to approach the 504 loan program, said Jim Lehman Vice President of Metcalf Bank. "He offers a teamwork approach and he works with us to help determine what works best for the customer."

For additional information go to www.jccdcloans.com.




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