Gov. Jay Nixon is asking the U.S. Small Business Administration to provide low-interest loans to businesses in the St. Louis area affected by the turmoil in Ferguson. “Businesses impacted by recent events in the Ferguson area are in need of assistance to help them recover,” Nixon said.
Small businesses and some nonprofit organizations could be eligible to receive these economic injury disaster loans, which offer capital to businesses until normal operations resume. The governor’s request today follows an announcement earlier this week that $1 million worth of no-interest loans would be available to for-profit small businesses from the state’s small-business loan program, the St. Louis Regional Chamber, the St. Louis Economic Development Partnership and a coalition of local banks.