The Body Shop, Adgraphix land $186,000 loans through Missouri program
St. Louis Business JournalKelsey Volkmann
Monday, December 05, 2011
A vehicle collision repair shop and graphic design and print shop in St. Louis were awarded a total of $186,000 low-interest loans through the Missouri Linked Deposit Program, Missouri State Treasurer Clint Zweifel said today.
The Body Shop, a full-service collision repair auto shop owned by Thomas Whitelaw in O’Fallon, Mo., received a $120,000 loan to purchase equipment and make facility improvements. It has five full-time employees. The low-interest loan will save it an estimated $13,000 over five years should it choose to take out loans for that length of time, Zweifel said. First State Bank of St. Charles partnered to make this loan.
Adgraphix, a graphic design and digital printing company in Brentwood, Mo., received $66,000 to purchase new equipment. Services include digital printing, emergency vehicle graphics, wall murals, counter wraps, trade show displays, restaurant menus, professional photography and professional installation. Adgraphix, led by Manager Chris Schreck, has 12 full-time employees. Commerce Bank partnered to make this loan.
Zweifel’s manages the Missouri Linked Deposit Program, which helps Missouri small businesses with up to 99 employees receive low-interest loans.