Cassville contractor receives $3M in low-interest loans

Missouri State Treasurer Clint Zweifel yesterday announced his office has awarded $3 million in low-interest loans to Cassville-based Hutchens Construction, an asphalt construction company that also has a plant in Monett.

The loans, provided through the Missouri Linked Deposit Program with partner Commerce Bank, was used to purchase a mobile asphalt plant, according to a news release.

“Finding efficiencies in the construction process is something small-business owners are constantly looking to do,” Zweifel said in the release. “Hutchens used (the loans) to purchase equipment that helps them speed up its work and save customers time and money."

Through the Missouri Linked Deposit Program, managed by the treasurer's office, qualified borrowers - businesses with less than 100 employees - generally save roughly 30 percent on the cost of the loan. Hutchens has 78 full-time employees.

"(Hutchens) is saving an estimated $225,000 - real capital it can use to improve business," Zweifel added in the release.

Hutchens, which specializes in rock installation and asphalt paving and works on commercial or industrial sites and private projects, also has plants in Eagle Rock, Shell Knob, Washburn, Gravette, Ark., Sonora, Ark., and Springdale, Ark.[[In-content Ad]]