Treasurer's office awards $1.8M low-interest loan to Hummert International

State Treasurer Clint Zweifel's office has approved a $1.8 million low-interest loan for Earth City-based Hummert International, which has a Springfield presence. The loan was awarded through the Missouri Linked Deposit Program.

Hummert received 24-hour emergency approval due to its location in St. Louis County, which has been receiving emergency loans since an April 22 tornado.

The international manufacturer, distributor and designer of horticulture supplies will use the loan to refinance its 83,000-square-foot headquarters, greenhouse, show room and warehouse in Earth City, thereby freeing up an estimated $200,000 in debt service during the next five years, according to a news release from Zweifel's office.

The savings mean keeping jobs at the 77-year-old company, which has 58 employees at its headquarters, 11 in Topeka, Kan., five in St. Joseph and eight at its 616 N. Glenstone Ave. facility in Springfield.

“This is a significant loan for Missouri because it is not just about bringing businesses to Missouri - it is about keeping them here, too, and rewarding their commitment,” Zweifel said in the release. “This emergency loan frees up a significant amount of cash for Hummert ... so it can continue to export expertise and goods, not its jobs."[[In-content Ad]]