Farms and small businesses statewide have been awarded more than $200 million in low interest loans by State Treasurer Clint Zweifel. Click to hear KMZU’s Chelsea Wade talk with State Treasurer Clint Zweifel.
Press Release from Missouri State Treasurer Clint Zweifel:
JEFFERSON CITY – Half way through 2011, 654 low-interest loans worth more than $200 million – a 49 percent increase over the same time period in 2010 – have been awarded by State Treasurer Clint Zweifel (ZWY-ful) to farms and small businesses statewide.
The loans made through the Missouri Linked Deposit Program have impacted nearly 4,000 jobs and farmers across the state. Emergency 24-hour approvals have totaled more than $20 million and have impacted about 700 jobs and farmers. The emergency process is known as the Harmed-area Emergency Loan Priority system, or HELP.
“Farmers, small business owners and local governments across the state are using the Missouri Linked Deposit Program at decade highs,” Treasurer Zweifel said. “Low-interest capital has reached new businesses and farmers in nearly every county in the state. We are supporting the entrepreneurial spirit of the Missouri small business and agribusiness communities. While we know there is work to do – these loans clearly provide capital farms and small businesses need to add jobs and make improvements.”
In 2010, loans totaling $293 million were approved statewide, which was a 10-year high.
Treasurer Zweifel has approved more than $692 million in loans impacting more than 11,250 jobs and farmers throughout the state since 2009. Below is an overview of those loans:
Kansas City Region (Bates, Carroll, Cass, Clay, Henry, Jackson, Johnson, Lafayette, Platte, Ray): $53 million, impacting 950 jobs and farmers.
Mid-Missouri Region (Audrain, Benton, Boone, Callaway, Camden, Cole, Cooper, Dent, Gasconade, Howard, Maries, Miller, Moniteau, Montgomery, Morgan, Osage, Pettis, Phelps, Pulaski, Saline): $217 million, impacting 3,000 jobs and farmers.
Northeast Missouri Region (Adair, Chariton, Clark, Knox, Lewis, Linn, Macon, Marion, Monroe, Pike, Putnam, Ralls, Randolph, Schuyler, Scotland, Shelby, Sullivan): $100 million, impacting 1,700 jobs and farmers.
Northwest Missouri Region (Andrew, Atchison, Buchanan, Caldwell, Clinton, Daviess, DeKalb, Gentry, Grundy, Harrison, Holt, Livingston, Mercer, Nodaway, Worth): $43 million, impacting 700 jobs and farmers.
Southeast Missouri Region (Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Madison, Mississippi, New Madrid, Pemiscot, Perry, Reynolds, Ripley, Scott, St. Francois, Ste. Genevieve, Stoddard, Wayne): $98 million, impacting 1,600 jobs and farmers.
Southwest Missouri Region (Barry, Barton, Cedar, Christian, Dade, Dallas, Douglas, Greene, Hickory, Howell, Jasper, Laclede, Lawrence, McDonald, Newton, Oregon, Ozark, Polk, Shannon, St. Clair, Stone, Taney, Texas, Vernon, Webster, Wright): $82 million, impacting 1,300 jobs and farmers.
St. Louis Region (Crawford, Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County, Warren, Washington): $99 million, impacting 2,000 jobs and farmers.
About the Missouri Linked Deposit Program
The Missouri Linked Deposit Program is managed by State Treasurer Clint Zweifel. Missouri-based small businesses with up to 99 employees and farmers are eligible to receive a loan through the Missouri Linked Deposit Program based on lender underwriting standards. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. About 130 lenders with 350 branches throughout Missouri use the Missouri Linked Deposit Program. An extensive list of participating lenders and program eligibility guidelines are online at www.treasurer.mo.gov/LinkedDeposit.