Two businesses receive low-interest loans
Thursday, January 27, 2011
State Treasurer Clint Zweifel announced Tuesday nearly $700,000 in low-interest loans for two businesses in Maries and Osage counties.
Thomas Hardware of Belle received a $167,000 low-interest loan through the Missouri Linked Deposit Program.
Deutshes Heim Bulk Foods and General Store, a local grocery store in Linn, received a $425,000 low-interest loan.
The low-interest loan for Deutshes Heim will save the company an estimated $6,375 over one year. The loan will be used to build and purchase inventory for the new bulk food store employing four full-time employees. The loan was made in partnership with Legends Bank.
The low-interest loan for Thomas Hardware will save the company an estimated $3,400 in interest costs over one year. The loan will be used to purchase the existing hardware store building and new equipment used by the business employing three full-time employees. The Maries County Bank partnered with Treasurer Zweifel to make the loan.
In the past two years, Mid-Missouri has received $163 million in loans impacting 1,718 jobs and 411 farmers. Qualifying borrowers generally save 30 percent on the cost of the loan.
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