How much money can I borrow?

45% of the project costs, up to $100,000.

How do I qualify?

Must be a for-profit business with current employment less than 100.

What are the program requirements?

One job for every $20,000 lent.

What are the terms of the loan?

Typically, the terms of the UEL loan match the terms of the bank loan, up to fifteen years

What is the interest rate?

5%

How much equity do I need?

10% of the total project costs must be in equity.

Are there any geographic restrictions?

Yes. The business must be located in the Enterprise Zone or Enterprise Community in the City of St. Louis.

What are the closing costs?

1.5% of the loan plus any filing fees incurred.

How much is the application fee?

There is a $100 non-refundable application fee.

Can I participate in more that one program at a time?

Yes, provided you meet the eligibility requirements and leverage restrictions of each program and there is no double counting of jobs or equity.

How do I apply?