2 min read
Posted on 10.21.07
  • 2 min read
  • Posted on 10.21.07

The St. Louis Local Development Company is one of the agencies that operates under the umbrella of the St. Louis Development Corp., the City’s development agency. LDC provides loans to businesses, helping them locate or expand in the City and employ more of our residents. LDC loans usually have lower equity requirements and longer terms than commercial loans, making them ideal for growing small businesses.

Here are some of the recent loans LDC has handled or approved:

  • A low-interest loan to an affiliate of BCS Manufacturing. BCS makes architectural millwork, commercial casework, furniture, and concrete countertops and fixtures. The LDC loan will make it possible for the company to move into the City of St. Louis (to the 4200 block of Tholozan) from its present location in Brentwood and expand its business. The company currently employs six people and expects to add fourteen additional employees with the expansion.

  • An SBA loan to an affiliate of Input Technologies. Input is a company that provides high-quality, quick-turnaround printing - as well as web-based and traditional graphic design. The company was forced to move from its location at 300 South Grand when the property was sold, but the move provides an opportunity for the growing business to relocate to a larger building at 1470 S. Vandeventer. The company has been in business since 1984 and currently employs thirty-nine people. It expects to add eleven additional jobs within the next two years.

  • A low-interest loan and an SBA loan for Brazie’s. Brazie’s is a popular (my dad and mom eat there) Italian restaurant currently located in a strip center on Hampton. It plans to move to a formerly vacant, fire-damaged building at 6100 Arsenal. The new, larger Brazie’s will be able to seat more customers, and add an outdoor dining area and bar. As a result of the move and expansion, Brazie’s will add six new full-time jobs.

    All of the businesses receiving LDC loans will enter into "First Source Referral Agreements" with the St. Louis Agency for Training and Employment, to ensure that City residents have opportunities to fill the new jobs. All of the businesses have also secured private financing and will provide equity towards the costs of their expansions. Private debt and equity will fund the majority of the expansion costs.