Community Renewal Good Stories - St. Louis/East St. Louis

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EZ Business Center Strengthens Urban Core Stability

St. Louis, Missouri/East St. Louis, Illinois, EZ

Although the lack of adequate capital can be a barrier to small business development, the lack of adequate technical assistance often prevents businesses with potential from getting off the ground. And, without a sound business plan, many startups are unable to attract financing.

The EZ Small Business Development Center (SBDC) in St. Louis has been working to ensure that companies receiving Federal loans are considered sound by outside investors. Having loaned $890,000 to five small businesses in 2001 and 2002, the Greater St. Louis Regional EZ, which established the SBDC, saw its efforts pay dividends as the seed money leveraged an additional $2.5 million in private development and retained and created 92 jobs.

At the EZ Small Business Development Center, companies learn business plan development, marketing, loan packaging, and financial analysis. The EZ operates the center in partnership with the U.S. Small Business Administration; RMI, a micro-business lender; the Missouri Small Business Development Center; Great Rivers Community Capital; and the Service Corps of Retired Executives. The EZ also offers financial assistance in the form of low-interest loans and grants at the center.

A recent analysis prepared by the Initiative for Competitive Inner Cities projects growth potential for EZ businesses and praises the EZ business center. "Consistent with trends nationwide, St. Louis's growth is anchored by small business development," says Kevin Cahill, chief operating officer of the St. Louis Inner City Competitive Alliance. "The creation of this business development center is critical to retaining and encouraging sustainable business development and job creation." "The service we offer and coordinate truly empowers business owners," says Kevin Wilson, director of the EZ Small Business Development Center. "They have a real opportunity to improve their circumstances."

For example, DMX Industries and Lackey Sheet Metal have received technical and financial assistance at the EZ business center to expand their operations, while two other businesses, Wicks Mobil Plaza and Cecil Whittaker's Pizzeria, used assistance from the EZ business center to add critical access to retail services. Arvin's Furniture Appliance and AC, another recipient of assistance, was able to rise from the ashes of a fire that damaged its facility within the EZ.

For more information on the programs of the St. Louis/East St. Louis EZ, contact Executive Director Tara Buckner at (314) 241-2083.