The City of St. Louis is taking significant steps to support local businesses impacted by recent challenges, including a tornado, as highlighted during the 2025 Business Resource Forum held on July 24. Key discussions focused on enhancing access to capital and resources for businesses, particularly those in recovery.

A representative from the St. Louis Development Corporation (SLDC) emphasized the importance of one-on-one conversations with business owners to understand their needs better. The SLDC is collaborating closely with the Small Business Administration (SBA) to ensure that businesses receive the necessary support. They are encouraging local businesses to reach out for assistance, particularly regarding below-market rate loans available through the Saint Louis Local Development Company.

In response to inquiries about funding, it was noted that the Local Development Corporation is actively working on deploying unrestricted funds to businesses, which could include low to no-interest loans. This initiative aims to provide immediate financial relief to businesses during this challenging period.

The forum also addressed the North Side Corridor Grant Program, which has already allocated its funding. The SLDC is currently processing applications from businesses that applied for this program, which was funded through the American Rescue Plan Act (ARPA). Business owners were encouraged to follow up on their applications, as the application cycle has now closed.

Additionally, the forum highlighted the need for resources tailored to younger businesses. A participant raised concerns about the challenges faced by new businesses in the wake of economic injury. The SLDC expressed its commitment to supporting these businesses through programs like Scale Up STL, aimed at fostering growth and sustainability.

As the city continues to navigate recovery efforts, the SLDC remains dedicated to connecting businesses with vital resources and support, ensuring that the local economy can rebound effectively. Business owners are urged to engage with the SLDC for personalized assistance and to explore available funding opportunities.