University City has announced a fourth forgivable loan — small business assistance program to help provide relief for local businesses that have experienced economic hardship as a result of the COVID-19 pandemic. Eligible local retail, service and creative for-profit businesses can use the money for short term financial operation needs such as payroll and utilities or for payments to suppliers or service providers.
The loan fund may not be used for capital expenditures or rent. In addition, although businesses that received funding less than $2,000 in Rounds 1 or 2 are eligible to receive Round 4 funding up to $2,000 minus funds already received, other businesses that received funding in a previous round of the program are not eligible to receive funding in Round 4.
Money for University City’s Forgivable Loan Small Business Program comes from a special quarter-cent, economic development retail sales tax the city has assessed since August 2006, which is invested in projects that encourage redevelopment.
Applications will be accepted until April 30. Interested businesses should contact Clifford Cross, director of planning and development, 314-505-8516, or email email@example.com or Jenny Wendt, firstname.lastname@example.org. Applications may be made at https://www.ucitymo.org/673/Economic-Development-retail-Sales-Tax.com