MO Treasurer Expands 24-Hour Approval for Loans

7 years 10 months 3 weeks ago Friday, July 01 2011 Jul 1, 2011 Friday, July 01, 2011 2:16:00 PM CDT July 01, 2011 in News
By: Associated Press and Allie Spillyards
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JEFFERSON CITY - Missouri Treasurer Clint Zweifel has authorized emergency 24-hour approvals of low-interest loans from a state program for farmers and small businesses in 26 more counties.

Counties include Andrew, Atchinson, Boone, Buchanan, Callaway, Carroll, Chariton, Clark, Clay, Cole, Cooper, Franklin, Gasconade, Holt, Howard, Jackson, Lafayette, Lewis, Moniteau, Montgomery, Osage, Platte, Ray, Saline, St. Charles, and Warren.

Friday's announcement came one day after President Barack Obama granted an emergency declaration for the counties located along the swollen Missouri River. Expedited approvals for loan applicants were already in place in the city and county of St. Louis after that area was hit by April tornadoes.

Zweifel's office says the normal time for approving loans under the Missouri Linked Deposit Program is 10 days.

Not every qualifying county needs the aid now. Boone County officials see the aid as a preventative measure.

"Right now in Boone County we have't identified any needs for financial assistance. But it's certainly beneficial should the situation change, we won't have that particular hurdle to cross," Columbia fire chief Steven Sapp.

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