Three Springfieldians in second round of DED loans

A graphic design firm, karate studio and historic event venue are among the second round of firms approved for low-interest loans as part of the Missouri Department of Economic Development's Small Business Loan Program.

The program, intended to provide needed capital to small businesses in a challenging economy, selected 19 firms to receive funding.

Among those approved is Springfield-based Andora Creative, a graphic design, web-development, marketing and advertising firm, which will receive $25,000. Skidsteer Plus Landclearing of Highlandville also received $25,000 through the program.

Other local recipients of smaller loans are Tamara Finocchiaro, owner of Pythian Castle; and Dunham's Art of American Kenpo of Springfield.

The low-interest loan program offers loans of $2,500 to $25,000, to be repaid over 10 years at a 3 percent interest rate. To date, 29 small businesses have received loans through the program, implemented earlier this year with $2 million in loan funding.

"Small businesses are critical to the health of Missouri's economy," said Katie Steele Danner, interim DED director, in a news release. "The Missouri Small Business Loan Program ... will assist some dynamic small businesses from around our state in accessing capital so that they can create jobs and help grow our economy."

DED continues to accept applications for loans; interested firms can apply online at the address below.