State Treasurer Clint Zweifel was in Springfield Tuesday to tout passage of a program that's designed to help more small businesses and farmers secure low-interest loans.
The expanded linked deposit program allows applicants to borrow loans at lower interest rates.
"Folks, it passed unanimously, which doesn't happen very often in our business," said Zweifel in at Great Southern Bank in Springfield.
*WATCH ZWEIFEL DESCRIBE THE PROGRAM ABOVE*
The Treasurer's office noted that Davis Excavating Company in Rogersville used the program to purchase machines and equipment and Billings & Associates Fine Woodworking in Springfield used the program to expand its cabinet-making business.
Zweifel's expansion includes reinvesting $1 billion dollars an ensuring a 2-3% discount "regardless of what the interest rate is." Says he's helped speed up process for approval from 6 weeks to just one.
Zweifel also said the Treasurer's office would unleash a new marketing push over the next few weeks to make sure the linked deposit program is "touching more parts of the state."