UNIVERSITY CITY, Mo. — University City has announced a third forgivable loan small business assistance program to provide relief for businesses that have experienced economic hardship due to the COVID-19 pandemic.
Eligible local retail, service and creative for-profit businesses can use the money for short term financial operation needs like payroll and utilities or for payments to supplies or service providers.
Businesses cannot use the funds for capital expenditures or rent, according to a news release.
“The city is pleased to earmark $850,000 to help qualified University City businesses, including a goal that at least 25 percent of the allocated funding will help minority and women-owned businesses,” said Clifford Cross, director of planning & development. “Eligible businesses include those that may have received assistance from prior small business forgivable loan programs.”
Visit University City's website for more information or to apply.