News from City Hall
City Communications Office
City of Kansas City, Mo.
FOR IMMEDIATE RELEASE: July 17, 2012
City announces KC Storefront Initiative and new small business financing opportunities
The City of Kansas City, Mo., in partnership with Justine PETERSEN, announced Tuesday, July 17 during a press conference an expansion of its microloan program, the creation of the KC Storefront Initiative and the establishment of Justine PETERSEN offices at KC Bizcare. Justine PETERSEN is the nation’s second largest microlender.
“The KC Storefront Initiative will aim to make financing available and create opportunities for family-owned small businesses,” said Sixth District at Large Councilman Scott Taylor.“During this difficult economic time, we need to take care of our residents and develop targeted programs like this to give them a chance to succeed.”
The City will increase its existing microloan program with Justine PETERSEN from $350,000 to almost $1.5 million. The microloan program helps both start-up and existing small businesses access capital and overcome barriers that may exist when seeking financing from mainstream institutions.
In conjunction with this expansion, the City will create the KC Storefront Initiative pilot project to target and encourage business growth in areas with vacant storefront availability and City investment.
The KC Storefront Initiative will target the following areas: Troost Avenue between 30th-34th streets; Independence Avenue between the Paseo and Benton Boulevard; 18th and Vine Neighborhood; Southwest Boulevard between Broadway Street and State Line Road; and the South Kansas City area bounded by 470 Highway, 71 Highway, Martha Truman Road and Raytown Road.
Justine PETERSEN will also establish offices at the City’s two BizCare locations: across from City Hall and at 18th and Vine streets.
Speakers at the press conference included Sixth District at Large Councilman Scott Taylor, Third District Councilman Jermaine Reed, Assistant to the City Manager Rick Usher, Mindy Curphy of Justine PETERSEN, Bernardo Ramirez of the Hispanic Economic Development Corp., and Allan Gray of the Black Chamber of Commerce.
Media inquiries and other requests for more information should be directed to Lisa Sturgeon, aide to Councilman Taylor, at 816-513-6523.