MOSourceLink was designed to connect startups, entrepreneurs, and small businesses in the state through classes and events on various business topics. The Missouri Small Business Development Center (SBDC)’s free counseling services can help you apply for grants and meet the technical and organizational needs of your venture. There’s also T-REX—a non-profit entrepreneur development and innovation facility in St. Louis that offers affordable space for early-stage entrepreneurs with conference rooms, Wi-Fi, and more.

Missouri is home to several grants targeted at small businesses. You can find an updated list of them on Missouri GrantWatch. One grant opportunity is the Small Business Grant from the city of St. Louis. If you’ve been impacted by COVID-19, have less than 25 employees, and operate in person, it’s worth applying for.

To qualify for a Missouri business loan, you’ll need to select a structure like a corporation or LCC and officially set up your business. Then, use the Missouri business name database to make sure your preferred business name is available. If you plan to form a corporation or LLC, you’ll need to appoint a registered agent and file Articles of Organization or Articles of Incorporation. Once you’ve gone through these steps and obtained an Employer Identification Number (EIN), you’ll be ready to apply for financing. Qualifications for a loan will vary, but will likely include credit score, time in business, and business finances.

It’s a good idea to do some research and compare small business financing options. With an online platform like Lendio, you can do just that. If you have a good credit score and want to take your time paying back your funds, an SBA loan may be ideal. But if you’re a seasonal business or you need fast cash, a line of credit or accounts receivable financing is likely the better choice.

A business loan in Missouri can help you take full advantage of entrepreneurship opportunities in the state. Most financing options are flexible so you can put the proceeds toward startup costs, marketing, inventory, payroll, expansion, or anything else you need to launch or grow.