Missouri treasurer speeds up loans in disaster areas

JEFFERSON CITY — The Missouri state treasurer has authorized rapid approval of loan requests from farmers and small-business owners in a dozen counties hit hard by last week's violent storms.

Treasurer Clint Zweifel said Monday the state will approve Linked Deposit loans within 24 hours in specific counties along the southern tier. The approval process normally takes 10 days.

Under the Linked Deposit program, the state deposits money in banks at low interest rates. Banks then use the money to provide low-interest loans to small businesses and farmers.

The expedited approvals will be available in Barry, Bollinger, Cape Girardeau, Dallas, Laclede, Madison, Phelps, Pulaski, Scott, Stoddard, Stone and Taney counties.

###