October 24, 2022

FROM THE PRESIDENT AND CEO, JOE REARDON

When the dust settled from the Paycheck Protection Program, it was obvious there was a problem. Of the 4,677 PPP loans awarded to Kansas City area businesses, only 24 went to Black-owned firms, 34 to Hispanic-owned firms, and 33 to Asian-owned firms.

The issue: too many minority-owned firms don’t have a relationship with a bank, which would have eased their application for federal dollars.

So about two years ago, the Chamber convened a group of bankers, entrepreneurial support organizations, foundations, and businesses to help close that gap. We’ve showcased minority business owners to the organizations that can provide them support, and we’ve hosted networking events bringing those groups together.

Now, an exciting new effort supported by the Ewing Marion Kauffman Foundation can help bridge the gap: a new Loan Loss Reserve Fund.

Here’s how it works. The Loan Loss Reserve Program will work with approved lenders to provide loan loss reserve funds that support lending to entrepreneurs in low- and moderate-income neighborhoods, especially those who are Black, Indigenous, and people of color.

Learn how to become an approved lender and access more program details and an application available from the program administrator, LOCUS.

And a huge thank you to all our banking members, Kauffman Foundation, and the many others who have been so committed to this work. In true Kansas City spirit, we rallied around one another to work towards lasting solutions. It does my heart good.

Crossroads Charter Schools

1011 Central St.

Kansas City, MO 64105

Oakwood Country Club

9800 Grandview Rd.

Kansas City, MO 64137

Lead to Read KC

Kansas City, MO

Millig Design Build

100 East Park St. Ste. 200

Olathe, KS 66061

Heard Around The Chamber

Congratulations to the KC Current! They play in the NWSL Championship this coming weekend! The Current will face the Portland Thorns Saturday at Audi Field in Washington, D.C. This is just the team’s second season is existence and they’re already playing for the Championship. Don’t miss a single goal. You can watch on KCTV5 or Paramount+. #TealRising!

Congratulations to Kansas City Public Schools for winning the American Planning Association’s Planning Excellence Award! The APA recognized KCPS for its Repurposing Initiative, which seeks to transform 30 closed school sites into valuable neighborhood assets.

Collaboration is often the key to success. Smarter Consulting wants to show you what tools there are for stronger collaboration and help you figure out what solutions are the best fit for your business. They’re hosting CollabCon this Friday, October 28 at the BEST Conference Center on the KU Edwards Campus. Information on registration is available at www.collabconforall.com.

There’s still time to win Chiefs tickets through the Community Blood Center. Make a blood donation before October 31 at a donor center or community blood drive and you'll be automatically entered into a drawing to win 1 of 4 prizes for tickets to a November Kansas City Chiefs home game. Click here or call (877) 468-6844 to schedule a donation.

HR professionals won’t want to miss the Society for Human Resource Management Kansas City chapter’s annual event November 10. SHRM-KC's Virtual Conference will take place on the Whova platform. Earn up to 6.0 hours of SHRM and HRCI recertification credit - including 1.0 hour of HRCI business credits.