State Doubles Small Business Loans

8 years 10 months 2 weeks ago Tuesday, December 28 2010 Dec 28, 2010 Tuesday, December 28, 2010 11:15:37 PM CST December 28, 2010 in News
JEFFERSON CITY - The Missouri Development Finance Board voted Tuesday to increase the max loan from $25,000 to $50,000. The board also changed the number of employees applicants can have from five to 15 people. Spokesperson for the state's economic development office John Fougere said the revisions will hopefully encourage more small businesses to apply for the loan program.

"With small businesses being the engine that drives our economy we think this is really important that our small business sector is strong and growing and prospering and we think this program can do that," Fougere said.

The state still has approximately $830,000 to loan out from this program. It started in 2009 with $2 million. Since then small business loan program lent
 to 46 businesses. One was Traditions in Woodworking owned by Chris Heston. Heston said the $25,000 loan helped him purchase new equipment and aid in his toy creation. Heston developed building blocks similar to Lincoln Logs with his son. He started selling them 8 months ago. However, he wishes the max loan would have been $50,000 when he applied.

"For the amount of paper work we had to do it would've been nice to have a little bit more money at a lower interest rate, but I'm still happy with what I got," Heston said.

Fougere encourages other small businesses like Heston's to take advantage of the loan program.

"We think it's something that every small business should consider because the health of our small businesses is extremely important to our overall economy," Fougere said. "We want to make sure they don't have those problems as far as access to capital."

For more information on applying for a small business loan visit the link above.

More News

Grid
List
OSAGE BEACH - Police arrested two people Friday after searching a room at the Osage Village Inn and finding drugs... More >>
7 minutes ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 10:51:00 AM CST November 18, 2019 in News
ST. MARTINS, Mo. (AP) — Authorities say one person has been wounded in a road-rage incident in central Missouri.... More >>
3 hours ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 7:44:00 AM CST November 18, 2019 in News
MOBERLY - A Moberly man is facing charges after police say he harmed a 10-month-old child. Prosecutors charged the... More >>
6 hours ago Monday, November 18 2019 Nov 18, 2019 Monday, November 18, 2019 4:20:00 AM CST November 18, 2019 in News
COLUMBIA - After years in the making, Columbia City Council will be one step closer in deciding the final steps... More >>
15 hours ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 7:05:00 PM CST November 17, 2019 in News
JEFFERSON CITY—The Department of Planning and Protective Services in Jefferson City declared the first building with tornado damage as “dangerous”... More >>
16 hours ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 6:03:00 PM CST November 17, 2019 in News
SWEET SPRINGS - In some parts of Missouri, rural health care is on life support. A bright green handwritten... More >>
17 hours ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 5:31:00 PM CST November 17, 2019 in News
COLUMBIA — As the hunting season begins hunters are being encouraged to share their harvests to help fellow Missourians. ... More >>
17 hours ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 5:29:00 PM CST November 17, 2019 in Continuous News
COLUMBIA - A new Missouri law will honor five veterans from Boone County killed in combat in Iraq or Afghanistan.... More >>
17 hours ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 5:03:55 PM CST November 17, 2019 in News
COLUMBIA - The Missouri Department of Conservation is urging hunters to stay safe after an incident Saturday night. One... More >>
17 hours ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 4:59:00 PM CST November 17, 2019 in News
KANSAS CITY (AP) — A Kansas City school district is increasing the pay of its substitute teachers in a... More >>
21 hours ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 1:49:00 PM CST November 17, 2019 in News
COLUMBIA – From showcasing hand-carved wooden canes to hosting a silent auction for a local food bank, the annual art... More >>
1 day ago Sunday, November 17 2019 Nov 17, 2019 Sunday, November 17, 2019 7:03:00 AM CST November 17, 2019 in News
BOONE COUNTY - Officials confirmed there was a hunting incident Saturday night. Boone County Sheriff's deputies and several medical... More >>
1 day ago Saturday, November 16 2019 Nov 16, 2019 Saturday, November 16, 2019 6:43:00 PM CST November 16, 2019 in News
COLUMBIA - One person has been detained following a police chase that ended at the Taco Bell on Providence Road... More >>
1 day ago Saturday, November 16 2019 Nov 16, 2019 Saturday, November 16, 2019 5:11:00 PM CST November 16, 2019 in News
COLUMBIA — Police arrested one person after a report of shots fired on Quail Drive Saturday afternoon. Earl Tramail... More >>
1 day ago Saturday, November 16 2019 Nov 16, 2019 Saturday, November 16, 2019 4:41:00 PM CST November 16, 2019 in News
BOONE COUNTY - Deputies were dispatched to the Midway Travel Plaza on Saturday for a reported bomb threat, but they... More >>
1 day ago Saturday, November 16 2019 Nov 16, 2019 Saturday, November 16, 2019 12:24:00 PM CST November 16, 2019 in News
KANSAS CITY, Mo. – Former Kansas City Chiefs football player and eight codefendants have had additional charges filed against them... More >>
2 days ago Saturday, November 16 2019 Nov 16, 2019 Saturday, November 16, 2019 8:51:00 AM CST November 16, 2019 in News
CALIFORNIA - There have been three water boil advisories in the past week for about 50 people in the Hickory... More >>
2 days ago Friday, November 15 2019 Nov 15, 2019 Friday, November 15, 2019 6:57:00 PM CST November 15, 2019 in News
COLUMBIA - Prosecutors charged a man Friday with child sex crimes which court documents said happened in 2018 and 2019.... More >>
2 days ago Friday, November 15 2019 Nov 15, 2019 Friday, November 15, 2019 4:05:00 PM CST November 15, 2019 in News
Columbia, MO
Broken Clouds 44°
11am 46°
12pm 49°
1pm 50°
2pm 52°