More Loans for Small Businesses and Farmers

9 years 2 weeks 3 days ago Thursday, September 30 2010 Sep 30, 2010 Thursday, September 30, 2010 10:22:27 AM CDT September 30, 2010 in News
COLUMBIA - An announcement from the state treasurer means more loan money to create more than 2,000 jobs in the next year.

Commerce Bank is committed to lending $100 million dollars in low interest loans to small businesses in Missouri.

Money from commerce bank adds 100 million to the 392 million dollars treasurer Clint Zweifel has approved for state small business owners and farmers since January 2009.

The loan program is all a part of State Treasurer Zweifel's jobs and economic development package.

There are 112 banks in the state participating in the lending program.

However commerce is the largest Missouri-based bank with 128 branches in the state.

He said the money from commerce will boost statewide low-interest lending by 41 percent.

Zweifel also saidcommerce's contribution is the largest single commitment of any single bank.
 
"We're going to see investment and new businesses that started and look much different five years later because they have more employees, more equipment and they're making those investment that really create the ground for a strong economy in our state," said Zweifel

Missouri small businesses with up to 99 employees and farmers are eligible to receive a loan through the link deposit program.

Local governments, housing developments and alternative energy focused projects may also qualify for low interest loans.

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