St. Louis Mayor Tishaura Jones is determined to ensure small businesses are able to fully recover from the pandemic. To help them, the city is launching a $5 million Small Business Grant Fund for up to 900 small businesses. The companies will be able to apply – in person or online – for up to $5,000.
The funding can be used for a variety of purposes, including rent, purchasing new equipment, or covering payroll. In order to ensure the grants go out the door promptly, the city is hiring two full-time employees to review the applications, in addition to allocating time from ten current employees to assist in the process.
Another $2.5 million of ARP resources will support a revolving loan fund. This funding will focus on building the capacity of local community development corporations and neighborhood associations to drive equitable, community-driven development.
Update
Since March, St. Louis has conducted a widespread call for applications, hosting events at public libraries and community centers as well as launching an online grant portal. The city has received over 900 applications so far and is seeking 100 more. The first 192 are in the final review and are likely to receive their grants soon. Additionally, Jones signed a bill to target $37 million in ARP funds in North St. Louis to enhance the commercial corridors, support small businesses, and create more jobs to ensure a more equitable recovery in the city.
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