June 4, 2020

$4 Million Small Business Grant Fund Now Available in City of St. Louis

The City of St. Louis has established a $4 million Small Business Grant Fund to assist small businesses that have been severely impacted by COVID-19 and Stay at Home Orders. The application process for the $5,000 grant is now open and the Grant Committee will meet weekly beginning June 10 until all funds are exhausted. The funds are being made available through the CARES Act.

Eligibility

To be eligible for these grants, businesses must have:

  1. 25 or fewer employees as of March 19, 2020
  2. A physical presence in the City of St. Louis
  3. Closed or been significantly impacted as a result of COVID-19 and the City’s “Stay Home – Essential Activities Only Order, Health Commissioner’s Order No. 5”
  4. Owners with no conflicts of interest (no City employees or immediate family)
  5. Does not discriminate per City of St. Louis ordinances
  6. A current business license as of March 19, 2020
  7. Current on all City taxes as confirmed by the Collector of Revenue’s office

Although this funding is available to businesses in the City of St. Louis, the following businesses are not eligible:

  • Nonprofit Organizations
  • Banks & Financial Institutions
  • Law Firms & Attorneys
  • Physicians, Dentists, Surgeons, Optometrists, Chiropractors, and Veterinarians
  • Insurance Brokers and Agents
  • Real Estate Brokers and Sales Agents

Architects, Engineers, Land Surveyors and Nursing Home applicants may be required to provide additional documentation of the employee count. This can be done by uploading a copy of either the 2019 Federal IRS W-3 Form – Transmittal of Wage and Tax Statements or the Collector of Revenue Form W-10 Quarterly Earnings Tax Return, Quarter ending December 31,2019 or March 31, 2020.

How to Apply

The application is available on the SLDC website. All applications will be pending approval by the Board of Alderman. At least 50% of the available funding will be reserved for businesses located within areas designated as Promise Zones, Opportunity Zones and Neighborhood Revitalization Stabilization Areas.

Our advisors are closely following COVID-19 relief efforts and will continue to publish insights to keep you informed about potential business impacts and benefits. Visit our COVID-19 Resource Center for more news, tools and insights you need to know in these uncertain times.

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