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Coalition establishes loan fund for St. Louis MWBE contractors

A coalition of over 30 partners have launched a new program that will help minority- and women-owned businesses (MWBEs) in St. Louis obtain the capital necessary for them to work on public contracts.

Through the $10 million Contractors Loan Fund, MWBEs in the constrution sector can apply for a loan of up to $1 million. In addition to receiving the loan, approved applicants can receive legal, accounting, human resources, bidding, and other techincal assistance.

MWBEs can apply for a loan at the Fund's website, www.clfstl.com. However, contractors must already be certified as a MWBE by the City of S. Louis to be eligible.