Nixon Extends Small Business Loan Program
JEFFERSON CITY - Small businesses and farms have more opportunity to expand Thursday after Governor Nixon extended the Missouri Linked Deposit Program.
The program was set to expire December 31, 2015. However, Nixon signed a bill late Wednesday that eliminated the expiration date altogether.
Missouri Linked Deposit Program reduces interest rates by two to three percent on loans for small businesses and farms. The loans provide funds to retain employment, increase employment and allow entrepreneurial expansion.
Officials say lenders will put more trust in the government program now that the five year limit on loans is gone, allowing more businesses to receive more money.