The Business Finance team has been hard at work helping St. Louis regional business owners.
The St. Louis Economic Development Partnership in collaboration with the St. Louis Development Corporation through the Local Development Company helped Earthbound Brewery owner Stuart Keating obtain a $78,000 loan for equipment necessary to expand in 2016. The next year, the Partnership helped him obtain a second loan, this one for $50,000.
Our Business Finance Department has been hard at work helping businesses grow through our various loan options, like our 504 SBA loans and our Industrial Development Bonds to name a few.
This year, the team has serviced 242 loans for a combined loan balance of $51.4M.
“The work we do in providing access to capital for small businesses and entrepreneurs enhances our neighborhoods and puts more money straight into the community,” said Zack Folk, Credit Analyst for the STL Partnership. “Small businesses and startups account for about 2/3s of net employment growth in the U.S. since 2011, and our services help promote that growth in St. Louis, making them the backbone of our regional economy,” said Zack Folk, Credit Analyst for the STL Partnership.”
Eligible 504 SBA loan expenditures include land & building acquisition, construction, heavy machinery or equipment, furniture & fixtures. They also provide revolving loan programs that can be good to fill gaps in larger projects. We have the capacity to issue Industrial Development Authority Municipal Bonds for projects in excess of $2 million for manufacturing or 501(c) (3).
We also want to congratulate The STL Partnership Certified Development Company (CDC), the recipient of the Small Business Administration (SBA) St. Louis District Office 2019 TOP CDC’s award.
To learn more about some of our loan programs, click here. If you would like to speak to a loan officer, please contact Tim Bohnert or Roger Schlueter.
