Gov. Nixon Applauds Assistance to Ferguson-Area Small Businesses

Press Release

Gov. Jay Nixon and State Treasurer Clint Zweifel today applauded the Small Business Relief Program for surpassing $200,000 in zero-interest loans to small businesses affected by civil unrest in the Ferguson area.

"Small businesses are the engine of our economy, and that's why it was important to act quickly to ensure the stores and restaurants affected by unrest in Ferguson could keep their doors open, and their employees on the job, through this difficult time," Gov. Nixon said. "This marks a solid milestone in this community's recovery, and another example of how the people of St. Louis are pulling together to build a brighter future for the region."

In August, Gov. Nixon joined Treasurer Zweifel to announce the creation of a $1 million Small Business Relief Program with the support of a coalition of public and private sector organizations. The State of Missouri committed $250,000 to the public-private partnership, which includes the St. Louis Regional Chamber, the St. Louis Economic Development Partnership, and local lending institutions. The Governor designated Treasurer Zweifel to oversee Missouri's commitment to the program.

To date, the program has awarded $203,000 in loans to 17 small businesses, 15 of which are minority- or women-owned.

"When I began talking to North St. Louis County small business owners in August, none of us knew what the future might hold but all of us knew how important it was to help these owners keep their doors open," State Treasurer Clint Zweifel said. "The Small Business Relief Program is one of many efforts going on in North County to provide the support and services these communities need. There is more work to do, but this program is an example of how leaders can come together to move this region forward."

"We are personally hand delivering these checks and asking how we can help. I want these business owners to be able to keep the lights on," said Rodney Crim, President, St. Louis Economic Development Partnership. "There are hundreds of employees counting on these jobs and most of these small business owners have a lifetime of hard work invested in their shops and stores."

In addition, the Small Business Administration granted the Governor's request for a disaster declaration, which has made low-interest disaster loans available to business owners and non-profit organizations in north St. Louis County that suffered substantial economic injury as a result of the events in Ferguson.

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