DED approves small-business loan for local company

The Missouri Department of Economic Development this week approved a $50,000 small-business loan for Springfield-based Behavioral Learning Center LLC.

The company established in 2010 plans to use the funding to expand services, purchase furniture and equipment and establish working capital, according to a news release.

Behavioral Learning Center contracts with schools and other education centers to conduct applied behavioral analysis assessments and treatment services. The company also is working to expand to include a behavioral health clinic, which would focus on pediatric clients with autism spectrum disorder, language delays or problematic behavior.

The funding is part of the Missouri Small Business Loan Program established in 2009 to provide small businesses with loans up to $50,000. Available to applicants that are 100 percent Missouri-owned and have 15 or less employees, the loans carry a 3 percent interest rate payable during a 10-year period. Since established, the program has committed funding totaling $1.6 million to 57 businesses, the release said.