Southwest Missouri gets $32M in small business loans

Farms and small businesses in southwest Missouri received nearly $32 million in low-interest loans in 2009, State Treasurer Clint Zweifel announced Wednesday.

Zweifel's office has made 160 loans, impacting 293 jobs and 108 farmers in the southwest part of the state, through the Missouri Linked Deposit Program. Southwest Missouri borrowers will save an estimated $610,000 in annual interest because of the program, according to a news release.

"By providing low-interest loans, we encourage fiscally responsible investments in communities throughout Missouri,” Zweifel said in the release. “The money saved through these loans by small businesses and farms goes back into the community immediately."

Greene County small businesses and farms received seven loans worth more than $924,000 last year, with total county savings of $18,000 in annual interest.

Elsewhere in the Springfield metropolitan area, Christian County received nine loans worth $2.5 million; Dallas County received 14 loans totaling $4 million; Polk County got 12 loans for $4.25 million; and Webster County received six loans for a total of $1.3 million.

All Missouri farms are eligible for loans through the Missouri Linked Deposit Program, according to the release, and small businesses with fewer than 100 employees also are eligible. Local governments, housing developments and projects focused on alternative energy also could receive loans.

About 100 lenders in Missouri participate in the program; a full list of participating institutions is available on the State Treasurer's Office Web site.[[In-content Ad]]