Areas Served: St. Louis County
BOOST is an alternative loan program to the SBA 504 loan and features fewer eligibility requirements including no net worth, income size or personal liquidity limits.
This innovative program is for businesses expanding within St. Louis County and is available for the purchase or construction of commercial, owner-occupied real estate and/or equipment.
The program’s other benefits include: Up to 90 percent financing Low floating interest rates Variable/fixed rate option No prepayment penalty for floating rate Project and Loan Size While there is no maximum project size, in most cases the maximum BOOST loan is $500,000. For projects exceeding $1,250,000, the participating bank loan would exceed 50 percent and/or the borrower equity would exceed 10 percent of the total project coSt. Eligibility Criteria Applicants must be a St. Louis County business purchasing or constructing commercial, owner-occupied real estate and equipment.
Interest Rates The interest rate on the BOOST loan can be fixed or viable
Contact InformationSt. Louis County Economic Council
Address: 121 Meramec, Suite 900
City: St. Louis
State: Missouri
Website:
http://www.slcec.com/boost.html
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