Small business takes advantage of low-interest loan
Posted: 10.07.2010 at 4:50 PM
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KIRKSVILLE, MO -- Jacob’s Vineyard and Winery near Kirksville received a $90,000 low-interest loan to help expand their operations.  The loan is part of the Missouri Linked Deposit Program which allows qualifying borrowers an estimated savings of 30 percent of the cost of the loan.  The loan is expected to save Jacob’s Vineyard and Winery $9,000 in interest costs over the next five years.

Since the Missouri Linked Deposit Program started in January 2009 more than $400 million in loans have been approved statewide which has impacted over 4,500 jobs and 1,500 farmers.  Northeast Missouri has received $68 million in loans which has impacted more than 700 jobs and 500 farmers.  Those areas are listed below:

Adair: 60 loans totaling $18 million, impacting 270 jobs and 27 farmers
Chariton: 170 loans totaling $7.6 million, impacting 20 jobs and 160 farmers
Clark: 15 loans totaling $1.5 million, impacting 2 jobs and 11 farmers
Knox: 83 loan totaling $5.3 million, impacting 42 jobs and 56 farmers
Lewis: 55 loans totaling $9 million, impacting 58 jobs and 38 farmers
Linn: 59 loans totaling $2 million, impacting 12 jobs and 57 farmers
Macon: 49 loans totaling $1.4 million, impacting one job and 48 farmers
Marion: 46 loans totaling $6 million, impacting188 jobs and 15 farmers
Monroe: 38 loans totaling $3 million, impacting 41 jobs and 27 farmers
Pike: 8 loans totaling $590,000, impacting 7 jobs and 7 farmers
Putnam: 21 loans totaling $1.8 million, impacting 21 farmers
Ralls: 13 loans totaling $2.5 million, impacting 39 jobs and 6 farmers
Randolph: 28 loans totaling $1.1 million, impacting 28 farmers
Schuyler: 9 loans totaling $954,000, impacting 10 jobs and 5 farmers
Scotland: 27 loans totaling $3.1 million, impacting 19 jobs and 18 farmers
Shelby: 14 loans totaling $2.1 million, impacting 14 farmers
Sullivan: 12 loans totaling $1.75 million, impacting 12 farmers