St. Petersburg introduces new accessible funding program for local businesses

With a focus on putting the spotlight on local small businesses, the city of St. Petersburg announced a new program that will provide accessible funding opportunities for them.

During a news conference Tuesday, St. Pete Mayor Ken Welch explained the new South St. Petersburg Community Redevelopment Area (CRA) Microfund Program will distribute a $1.35 million "boost" to local small businesses.

Welch says the program is an investment that will bolster the city's small business capacity along with supporting equitable economic development.