SLDC Approves $30 Million+ in Grant Awards to 295 North St. Louis Small Businesses and Non-Profits

SLDC Approves $30 Million+ in Grant Awards to 295 North St. Louis Small Businesses and Non-Profits

St. Louis, MO (June 27, 2024) - Today, the St. Louis Development Corporation's Board of Directors authorized the award of $30,197,909 to 295 businesses eligible to receive funding through the North St. Louis Small Business and Non-Profit Grant Program. These award allocations are in addition to the $615,000 of Capacity Building Grants already awarded to 144 businesses, bringing the number of businesses funded through the Program to 439 with awards totaling $30,812,909. The North St. Louis Small Business and Non-Profit Grant Program is funded by Coronavirus State and Local Fiscal Relief Funds (SLFRF). Today's grant awards include:

Stabilization Grants

Allocated to Award: $1,155,000 | 77 businesses | $15,000 per award

Stabilization Grant Program is a non-competitive, first-come, first serve program, therefore all applicants requesting participation in this grant program signed a declaration opting out of the competitive grant programs. Awards stabilization funding to qualified firms in need of operational support to maintain the small business or non-profit's standard operations, such as payroll or benefits costs, costs to retain employees, mortgage, rent or utilities costs, and other costs that comply with the U.S. Treasury Rules and Regulations for SLFRF.

Click here for the list of Stabilization Grant Awardees

Operational Expansion Grants

Allocated to Award: $6,025,000|173 Businesses

SLDC has set aside a portion of the grant funds to award to business and non-profits seeking to maintain or expand capacity, including operational growth and scaling in response to market opportunities. Grant awards will cover additional payroll or benefits costs, costs to hire new employees, increased inventory and added mortgage, rent or utilities costs and other expansion costs that comply with the U.S. Treasury Rules and Regulations for SLFRF.

Click here for the list of Operational Expansion Grant Awardees

Community Enhancement & Community Needs Grants

Allocated to Award: $21,222,462 | 22 Businesses

Average Community Enhancement Award Size = $964,657

Community Enhancement (Façade, Rehabilitation and New Construction): Grants for small for-profit and non-profit businesses for community enhancement that includes facade improvements, site rehabilitation and new construction with proven capacity need for enhancement and meet eligible program expenditures.

Façade Improvement & Community Needs: Grants for small for-profit and non-profit business organizations new to a neighborhood and fills a gap in needed neighborhood services to include professional or health services or enhanced retail or cultural offerings. ONLY for established businesses expanding into eligible geographic areas with site control.

Click here for the list of Community Enhancement & Community Needs Grant Awardees

Façade Improvement & Community Needs Grants

Allocated to Award: $1,795,447 | 23 Businesses

Average Facade Award Size = $78,062

Grants for small for-profit and non-profit business organizations new to a neighborhood and fills a gap in needed neighborhood services to include professional or health services or enhanced retail or cultural offerings. ONLY for established businesses expanding into eligible geographic areas with site control.

Click here for the list of Façade Improvement & Community Needs Grant Awardees

Next Steps

All applicants are encouraged to be patient and check their email. Please DO NOT call or email SLDC asking for a status update.

• All grant awards are contingent upon an approved viability assessment and clearance from the St. Louis City Collector of Revenue and License Collector offices.

• Stabilization Grant awardees have been invited to a grant agreement signing event on Friday, June 28, 2024.

• Ineligible and/or Unsuccessful applicants will be notified by email the week of July 1 and will be invited to a webinar to debrief about the scoring criteria for each grant program.

• Today's grant awardees will be notified via email the week of July 8 and on an ongoing basis.

Updates will continue to be posted at https://www.developstlouis.org/nstlsmallbizgrant.

The North St. Louis Small Business & Non-Profit Grant Program is funded in whole or in part with Coronavirus State and Local Fiscal Recovery Funds (SLFRF) passed through the City of St. Louis Community Development Administration.

St Louis Development Corp