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 with no interest accrual, and potential loan terms up to 30 years. Mason listed application deadlines tied to the May 16 declaration: physical damage applications due Aug. 11, and economic‑injury applications due March 9 of the following year. Mason urged business owners to apply even if they have insurance, saying SBA assistance can “stack” with insurance proceeds.

Steve Davis of the SLDC said the development corporation collected more than 700 business assessment responses and is sharing that data with state and federal partners. He noted SLDC can offer below‑market loans through the Saint Louis Local Development Company and is exploring unrestricted funds to offer low or no‑interest loans to help businesses bridge lost revenue. “We are looking at unrestricted funds that we can deploy to businesses,” Davis said.

Midwest Bank Center said it is offering emergency consumer loans up to $10,000 and business assistance loans from $5,000 to $25,000; the bank requires at least three years in business for its business program and noted an introductory rate and short deferral window for payments. “We do have access to capital for those who have experienced hardship from the disaster,” said Lisa Morgan, senior vice president for community and economic development.

Several business owners raised that the SBA and other loan programs primarily offer loans rather than grants. Nicks and SLDC staff acknowledged the gap and said city and state partners are seeking additional grant and low‑interest options for businesses.

SLDC and city staff also urged business owners to use the business recovery center at Cass Avenue and the contractor registry for repair work. Officials said the SBA and SLDC are coordinating outreach and that contractors can register to be considered for city‑initiated stabilization work.