The new products will support first time homebuyers, small businesses, non-profits and W/MBEs.
St. Louis Development Corporation (SLDC) has recently launched three new products that target different segments of the St. Louis community. The new products will provide crucial funding for first-time home buyers, small businesses, non-profits and Minority/Women-Owned Businesses.
HomeSTL: opening doors to homeownership
SLDC’s Homebuyer Assistance Program, HomeSTL, is designed to alleviate the financial burden associated with homeownership. HomeSTL supports credit-qualified, first-time homebuyers, with incomes at or below 80% of the Area Median Income (AIM), seeking to purchase homes within the City of St. Louis.
ScaleUpSTL: fueling entrepreneurial success
SLDC has dedicated $2.5 million of ARPA funds to introduce ScaleUpSTL Business Growth Loans. These low-interest loans are tailored to address capacity building and cash flow needs for eligible small business and non-profits.
MobilizeSTL: contractor and supplier loans for large-scale projects
SLDC has allocated $2.5 million to establish short-term loans for local contractors and suppliers. These loans are geared towards companies serving as vendors to a major employer or construction project.
For more information, visit SLDC’s website.
