Zweifel's office passes $1B mark in low-interest loans

State Treasurer Clint Zweifel's office has surpassed the $1 billion mark in low-interest lending through the Missouri Linked Deposit Program, since he was sworn into office in January 2009.

During the more than three-year period, the program has impacted more than 17,500 jobs and farmers, and has saved an estimated $18.4 million in annual interest costs for those who have taken out the loans, according to a news release.

"(This) $1 billion announcement is proof positive that we are still growing because we have an entrepreneurial tool that works for Missourians," Zweifel said in the release. "We have doubled our lender partnerships, we have guaranteed access to low-cost capital, and we continue to make smart investments.”

Through the Linked Deposit Program, managed by the treasurer's office, qualified borrowers - businesses with fewer than 100 employees - generally save roughly 30 percent on the cost of the loan, the release said.

In the southwest Missouri region, which includes Greene and surrounding counties, Zweifel's office has granted $131 million in low-interest loans, impacting 2,100 jobs and farmers, according to the release.

Ozarks businesses that have been awarded low-interest loans since Zweifel took office include:

• Springfield-based Relics Antiques Mall, $1.3 million;
• Springfield-based Technology Innovations Inc., $335,000;
• Cassville-based Hutchens Construction, $3 million;
• Springfield-based Marisol International, $1.5 million;
• Billings-based Solid Surface Designs, $675,000;
• Joplin-based Sign Designs, $180,000;
• Lebanon-based Ginger's Hometown Pharmacy, $88,000; and
• Springfield-based Anderson Engineering Inc., $38,000.