Missouri seed company gets low-interest loan

Tuesday, November 24, 2009 | 8:41 a.m. CST
BY The Associated Press

JEFFERSON CITY — State Treasurer Clint Zweifel has approved a $3.4 million loan to help a mid-Missouri seed company expand.

The $3.4 million low-interest loan to Weber Seeds Inc. of Marshall is one of the largest ever made through Missouri's linked deposit program.

Under that program, the treasurer's office deposits money in banks at lower interest rates. The banks, in turn, can offer cheaper loans to small businesses and agricultural projects.

The loan to Weber Seeds was announced Monday and allows the company to refinance two existing loans. Weber Seeds plans to use the loans to build a plant and buy new equipment needed for expansion.

 

 

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