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Missouri treasurer announces low-interest business loans

Wednesday, February 17, 2010 | 11:05 a.m. CST

JEFFERSON CITY — State Treasurer Clint Zweifel announced more than $36 million in low-interest loans to small businesses in northeast Missouri.

The state lets banks borrow money at a reduced interest rate, which is then passed on to small businesses that take out loans. The money is returned to the state within five years.

Zweifel's office said nearly 470 loans involving almost 400 jobs have been made in northeast Missouri.

More than $200 million loans were made statewide under the program in 2009. Eligible businesses include farms and companies with up to 99 employees.

The state can lend up to $720 million yearly.

 


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