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Springfield is looking to partner once again with a St. Louis microlender to provide loans to small businesses in the city. City council at its meeting Tuesday is set to debate an ordinance that would establish a new $2 million microloan program, funded by area banks and the Small Business Administration. St. Louis-based Justine Petersen would administer the COVID-19 recovery loan program. The city would provide $50,000 for the salary of the person working within the city s Office of Planning and Economic Development to help administer the loan and assist with program outreach. So what this will do is really give them the presence, the greater presence in Springfield to be able to fulfill the lending gap need that our community currently has, Mayor Jim Langfelder said.

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