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Fri January 21, 2011
Business Borrowing Boost Seen
KANSAS CITY, Mo. – Times have been discouraging for the Kansas City agency charged with keeping old and luring new business. Until a recent trend appeared to surface. It was noticed this week in the business session of the Kansas City Council.
City Council Chambers didn't exactly burst into sweetness and light, but you could almost feel a glow as Jeff Kazmarek laid out his report.
Head of the Economic development Corporation said the pipeline for small business loans has never been bigger. The EDC loan program has made 9 loans the last two months using the Small Business Administration.
The President of the EDC put it this way--"Small business will lead us out of this recession. We are seeing small companies within Kansas City starting to borrow again, starting to move ahead with projects."
Kazmarek has seen an upsurge in small revolving loans for lesser businesses. He also told the Council there have been seven new major corporate additions to the city since May. Most recent is Nordic Wind Energy.