Missouri state treasurer makes stop in Hannibal
Wed, 03 Aug 2011 21:50:21 GMT —
Some good economic news out of Northeast Missouri to tell you about tonight.
The Missouri linked deposits program has helped small based businesses across the state for many years.
So today, a Hannibal business was on the receiving end of a low interest loan through the program and the Missouri state treasurers office.
Reliable termite and pest control will save money on the interest rate a nd that money will be turned around as capital to reinvest in the company and the community.
Mike Scholes was all smiles today as the Missouri state treasurer paid a visit to the company Mike runs - Reliable Termite and Pest Control in Hannibal.
That's because Clint Zweifel was in town to announce a low interest loan to the company through the Missouri linked deposits program.
The idea is to loan money to small businesses in the state to help them grow and create more jobs.
"These are businesses that aren't often talked about. Don't get a lot of attention. But they're providing job growth in Missouri's economic recovery. 75% of it is coming from businesses just like Mike's here at Reliable," said Zweifel.
Scholes says the low interest loan will allow him to add three new employees and buy eight new trucks.
All of that to continue to expand his business in Northeast Missouri.
He says he could have expanded without the loan, but it would have been as quick or as big.
"But it takes capital out of my business instead of being able to buy new equipment, computers and upgrade other things. This just helps us to grow to be able to expand faster. Without taking revenue out of the business," said Scholes.
Besides being able to expand his Hannibal operation with the loan, Scholes said he'll also be able to add more manpower and equipment to his operations in Kirksville and Wentzville as well.