St. Louis Business Development Fund renamed
St. Louis Business Journal
August 3, 2011
After 17 years, the St. Louis Business Development Fund has rebranded.
As of Monday, the company is now called Regional Growth Capital Inc.
The organization, which is led by Business Development Liaison Vince Volpe, said it hopes the new name is not only memorable but also more accurately describes what it does.
The former name, the fund said, led many to believe it only invested in companies based in St. Louis County or the city of St. Louis, instead of the entire 16 counties in the St. Louis Metropolitan Statistical Area, which spans the Mississippi River and includes both Missouri and Illinois.
Many people also incorrectly assumed that the company was a government fund rather than a privately held, for-profit corporation, the company said.
Regional Growth Capital provides companies with capital investments of $50,000 to $500,000 through subordinated debt financing, without requiring any equity or an investment with ownership.
"We believe this change will help business owners as well as lenders, advisers and intermediaries throughout the region keep Regional Growth Capital in mind when considering the financing needs of their companies and clients," the company said.
