State treasurer meets with local leaders
Vivek Malek, Missouri state treasurer, recently visited the Clay County Administrative Building in Liberty, Mo., to meet with local leaders to discuss the local impact of the MOBUCK$ low-interest rate loan program and his plan to introduce legislation that will expand the program’s capacity.
MOBUCK$, according to www.treasurer. mo.gov, is a Missouri State Treasurer Office linked deposit program investing in Missouri small business, agriculture, and government entities through investment deposits to state-approved banks that have administered loans to businesses operating throughout the region.
The state of Missouri then invests the funds at a reduced interest rate, and the interest deduction is passed on to the business to lower loan interest rates by up to 3%. Those who qualify for the program include small companies that operate in Missouri with an upper limit loan amount of $250,000 with a maximum term of five years and currently have less than 100 full-time employees. A recent…