Description
Promotes workforce development and capital investment in Missouri’s rural areas by providing incentives to invest in those areas.
Do I Qualify?
Rural Funds, which may be Rural Business Investment Companies and Small Business Investment Companies, or their Affiliates, with:
- A valid license as a rural business or small business investment company wishing to accept investments as Capital Investments which, as of the date of their application, has invested:
- At least $100 million in nonpublic companies located in counties within the United States with a population of less than 50,000 according to the 2020 decennial census of the United States; and
- At least $30 million in nonpublic companies located in Missouri.
- A comprehensive business plan with a revenue impact assessment by a third-party economic forecasting firm.
- A nonrefundable application fee of $5,000 payable to DED.
How Do I Apply?
Applicants may submit their application via Submittable during the open cycle.
The program has one application cycle where applications are submitted to DED to determine the eligibility of the Rural or Small Business Investment Companies, or their Affiliates. If approved, the Applicant will be certified as a Rural Fund and awarded Qualified Investment Authority.
The Rural Fund must raise Qualified Investments equal to 60% of the purchase price of Capital Investment in Qualified Investments as of the second anniversary of the initial Credit Allowance Date and 100% as of the third anniversary of the initial Credit Allowance Date.