Missouri offers faster loans for farmers in drought
Wednesday, July 18, 2012 | 7:03 a.m. CDT;
updated 2:07 p.m. CDT, Wednesday, July 18, 2012
JEFFERSON CITY — Farmers suffering from this summer's dry, hot weather could get some help through the state treasurer's office.
Treasurer Clint Zweifel said he is offering emergency 24-hour approvals of low-interest loans through the Missouri Linked Deposit Program because of the drought conditions.
Under the program, the state deposits money at low rates in banks, which in turn can supply low-interest loans to farmers or businesses. Zweifel said it normally takes about 10 days to approve a deposit for a loan, but that can be completed faster in emergencies.
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