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Posted on: October 7, 2020

Forgivable Loan Small Business Assistance Program

round-3-sba-ucity-flyer

The City of University City is pleased to announce Round 3 of the Forgivable Loan Small Business Assistance Program. The City has earmarked $850,000.00 for the Program that is intended to help eligible local retail, service, and creative for-profit businesses address immediate cash for short-term financial operational needs such as payroll, payment to suppliers, payment to service providers, or payment of utilities. The available funding is intended to serve all qualified University City businesses with a goal that at least 25% of the allocated funding will fund minority and women-owned businesses. The loan funds may not be used for capital expenditures or rent. The intent of this program is to provide local businesses relief due to their economic loss during the current COVID-19 Pandemic. 

After reviewing the guidelines, if you have additional questions, please contact Clifford Cross, Director of Planning & Development at 314-505-8516 or by email at ccross@ucitymo.org, or Jenny Wendt at jwendt@ucitymo.org  to learn more about the Program and determine preliminary eligibility. Applications will be reviewed based on funding availability. Applications that are complete and meet Program criteria will be evaluated for compliance with funding priorities. Detailed information about the business will be required, and eligibility for a loan does not guarantee that one will be made. 

Visit: https://www.ucitymo.org/673/Economic-Development-Retail-Sales-Tax for the guidelines and application.

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