Mo. Treasurer: $200 Million in Loans OK'd so far

6 years 11 months 1 week ago Thursday, July 07 2011 Jul 7, 2011 Thursday, July 07, 2011 3:52:00 AM CDT July 07, 2011 in News
By: The Associated Press

JEFFERSON CITY (AP) - Farms and small businesses in Missouri have taken out more than $200 million in low-interest loans in the first half of the year through the Missouri Linked Deposit Program. State Treasurer Clint Zweifel says the total includes more than $20 million in emergency 24-hour loan approvals.

The program deposits state money in banks, which then lend it to qualifying businesses and farmers at lower-than-usual rates. Loans are approved yearly for up to five years and are available with five-year fixed rates.

Zweifel says this year's participation in the program is nearly 50 percent higher than during the same period in 2010. Last year's total of $293 million in approved loans was a 10-year high. Zweifel says this year's loans have affected nearly 4,000 jobs and farmers across the state.

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