Treasurer Stops in Springfield and Rolla to Promote Missouri Linked Deposit Program
JEFFERSON CITY, MO – July 27, 2009 – (RealEstateRama) — State Treasurer Clint Zweifel traveled to Springfield and Rolla today to outline how a low-interest loan program in his office is set to move Missouri’s economy forward.
Treasurer Zweifel is using the Missouri Linked Deposit Program, which was recently expanded as part of legislation developed by him called Invest in Missouri, to assist Missouri farmers and small businesses. The program allows qualified applicants to borrow low-interest rate loans to increase operations and make reinvestments.
“The Missouri Linked Deposit Program is a valuable tool we can use to create and retain Missouri jobs and move the economy forward,” Treasurer Zweifel said. “With unemployment rates continuing to rise, it is time for us to put Missourians back to work. The low-interest loans available through the enhanced Missouri Linked Deposit Program are part of that effort.”
Invest in Missouri allows more Missouri small businesses and farms to use the Missouri Linked Deposit Program. These businesses and farms will be able to borrow at low rates in order to hire more workers, increase operations or even refinance prior high-interest rate loans. The legislation did not register a single “no” vote during the entire legislative process and was signed into law by Governor Nixon on June 29.
“The fact Invest in Missouri received such widespread bipartisan support is a testament to how valuable it is,” said Treasurer Zweifel, noting how each Springfield and Rolla area senator and representative approved the legislation. “Officials from both sides of the aisle came together to move this legislation forward, and I applaud that effort.”
Even before the passage of Invest in Missouri, the Missouri Linked Deposit Program had already helped a variety of local businesses. Davis Excavating Company in Rogersville used the program to purchase machines and equipment. Billings and Associates Fine Woodworking in Springfield used the program to expand its cabinet-making business.
The program works as a partnership between the State Treasurer’s Office and Missouri community banks. Treasurer Zweifel stopped at Great Southern Bank in Springfield, a participating bank, to discuss the program’s enhancements.
“Our partnership with Treasurer Zweifel’s Office is helping Missouri’s economy. We encourage more Missourians to examine the Missouri Linked Deposit Program and how it can help their community businesses and farms,” said Joe Turner, President and CEO of Great Southern Bank.
Treasurer Zweifel also visited High-Bay Labs on the campus of Missouri University of Science and Technology. There he toured High-Bay Lab’s facility, and examined the new technologies being used there and how the Missouri Linked Deposit Program could be part of investing in innovation throughout Missouri.
The new eligibility guidelines go into effect on August 28. Missourians may visit the Missouri Linked Deposit Program Web site at www.treasurer.mo.gov/LinkedDeposit.asp to learn more about the enhancements
