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SBA, SLDC and local banks outline loan options and business resources after storm
Summary
Officials from the Small Business Administration, Saint Louis Development Corporation, and local banks briefed business owners on loan programs, deadlines and local assistance, while acknowledging limits and the need for more direct grant funding for businesses.
Representatives from the Small Business Administration, Saint Louis Development Corporation (SLDC), Midwest Bank Center and city economic teams described available loan products, application deadlines and business recovery centers for companies affected by the May 16 tornado.
Renata Mason of the U.S. Small Business Administration said SBA disaster loans remain the largest post‑disaster source of funds for property‑damaged businesses and nonprofits. She outlined the program limits: up to $2,000,000 for physical damage and economic injury loans, unsecured loans up to $50,000, a 12‑month deferral…
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