Grants and loans available to St. Louis area small businesses
Additional financial relief opportunities for St. Louis area small businesses:
- Small Business Relief Program
The St. Louis County SBR Program will provide financial relief to small businesses that were closed or had reduced or modified operations due to the stay at home order. The grant can be used to pay for the costs of business interruption as a result of the business closing during the Stay at Home Order and to cover costs associated with reopening safely. Business interruption costs could include fixed operating costs during closure. Reopening costs could include acquiring personal protective equipment for employees or customers or installing plastic shields to reduce the risks of transmission between customers and employees.
The SBR Program will award a one-time grant of $15,000 or less to a qualifying business.
A business is eligible for an SBR grant if the business (including for-profit entities, sole proprietorships, and non-profit organizations) has its principal place of business in St. Louis County, had 50 or fewer full-time employees as of March 1, 2020, and was closed or had reduced or modified operations due to the Stay at Home Order. Application deadline is May 17, 2020 at 11:59pm.
For more information and to apply please visit St. Louis County Coronavirus Information website.
- The Small Business Resource Fund Program
The St. Louis Economic Development Partnership, the St. Louis Development Corporation, The St. Louis County Port Authority, and a coalition of 10 St. Louis banks have created a new fund to support small businesses during this tough time. The group of banks committed a total of $500,000 to the Small Business Resource Program (SBRP) loan fund. St. Louis City and County companies can apply for loans up to $5,000 for working capital without any fees and a 0% interest rate.
Any for-profit business in the city of St. Louis or St. Louis County that has sustained economic damage due to the COVID-19 crisis may apply. To obtain a zero-interest loan, businesses must be current on all taxes through 2018, be in good standing with state and local governments, and have been in business for at least one year. Applicants must demonstrate that their company’s jobs are threatened by the health crisis, and they must explain how the loan would retain those jobs. Financial institutions and lenders are not eligible.