St. Louis Business Development Fund
The St. Louis Business Development Fund is a risk lending pool for projects considered too risky for conventional financing. There is no company size or industry limit.
The St. Louis Business Development Fund is a consortium of several local banks and three economic development organizations that have created a risk lending pool for projects considered too risky for conventional financing.
Eligible businesses must have:
- a positive net worth
- a positive cash flow
- an experienced management team
- growing market potential
- headquarters in the Greater St. Louis Region
- a relationship with one of the member banks
Loans are from $50,000 to $500,000.
There is no company size limit and all industries are welcome to apply.
The interest rate is typically 2 -3% over the prime rate and there is a success fee per annum on the unpaid balance.