Ferguson businesses collect $200,000 through no-interest loan program

The Small Business Relief Program, a no-interest loan program established to help Ferguson businesses recover after looting and vandalism in the St. Louis suburb, has distributed $200,00 to area business so far.

The $1 million loan program was created after several waves of looting hit businesses in Ferguson in the weeks after 18-year-old Michael Brown was fatally shot by Ferguson police officer Darren Wilson.

As of Thursday, 31 businesses have applied for loans through the program. Sixteen have been approved, and the others are still in progress. Businesses approved so far will receive loans ranging from $8,000 to $15,000 to pay rent and utilities, provide working capital and assist in replacing inventory or making repairs.

Read more from St. Louis Business Journal

Tags:, , , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more