State Treasurer Clint Zweifel gives ‘World’s Largest Gift Store and Candy Factory’ $1.1 million in low-interest loans
Redmon’s locations using loans to refinance debt and repave parking areas
For Immediate Release
Tuesday, July 10, 2012
PHILLIPSBURG, Mo. – Redmon’s Gifts and Redmon’s Travel Center, which bill themselves as the “World’s Largest Gift Store and Candy Factory,” have received more than $1.1 million in low-interest Missouri Linked Deposit Program loans from State Treasurer Clint Zweifel (ZWY-ful). The loans will save the businesses an estimated $91,000 over the next five years should the Redmon’s locations choose to take out loans for that period. The businesses currently have 13 full-time employees.
“Redmon’s Gifts and Travel Center have become landmarks in southwest Missouri, and we are proud to support these businesses as they continue to provide visitors from across the globe with a great place to stop, shop and refuel,” Treasurer Zweifel said. “Small businesses and farms deserve the support of the Missouri Linked Deposit Program. I have approved loans for one-man cabinet shops, 100-plus employee manufacturers, farmers who have worked the fields for decades and new farmers just purchasing their own land. This program is making an impact, and I will continue to do all I can to ensure that Missouri keeps providing the low-interest capital needed to keep our economy on the right track.”
The Redmon’s locations are using the loans to repave the parking lot for the store and refinance debt.
Since January 2009, southwest Missouri has received more than $147 million in loans impacting more than 2,500 jobs and farmers. Statewide, more than $1.1 billion in loans have been approved impacting more than 19,000 jobs and farmers.
About the Missouri Linked Deposit Program
The Missouri Linked Deposit Program is managed by State Treasurer Clint Zweifel. Missouri-based small businesses with up to 99 employees and farmers are eligible to receive a loan through the Missouri Linked Deposit Program based on lender underwriting standards. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. About 130 lenders with 350 branches throughout Missouri use the Missouri Linked Deposit Program. An extensive list of participating lenders and program eligibility guidelines are online at www.treasurer.mo.gov/LinkedDeposit.