MOBUCK$ is a resource for small businesses, farms, and communities seeking affordable capital

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Missouri State Treasurer Scott Fitzpatrick is highlighting the linked deposit program as a resource for Missouri small businesses, farms, and communities. In doing so, he is also announcing the program’s new name, MOBUCK$.

As Missourians face record inflation, rising interest rates, and a worsening economic outlook, access to affordable capital for businesses and farmers will become even more important to their ability to meet goals in the coming months and years. MOBUCK$ partners the State Treasurer’s Office with Missouri financial institutions to lower the interest rate on qualified loans to business owners, farmers, and municipal governments.

“As a business owner, I understand firsthand how important affordable capital is to businesses and farmers, especially in times of economic uncertainty,” Treasurer Fitzpatrick said. “MOBUCK$ Linked Deposits are a great tool to provide that access. Back when the program began, it was known as MOBUCK$ and as I’ve traveled the state speaking to bankers and other lending institutions over the years, many still refer to the program by its original name. I am happy to bring it back to its roots—and hope this more memorable and descriptive name will help increase awareness of MOBUCK$.”

Aside from the name change, the program will continue to operate as it currently does.

When using linked deposits, the Treasurer’s Office places deposits with participating lenders to provide liquidity the lender uses to fund a loan to a qualified small business, farmer, or community. These deposits are placed at a discount from the market rate to the institution. In return, the institution passes these interest savings on to the borrower by providing a lower interest rate on the loan, allowing the borrower to save, on average, 30% on their interest expense.

MOBUCK$ relies on strong relationships with Missouri financial institutions. More than 140 lenders with more than 350 branches across Missouri are participating lenders.

Missourians interested in MOBUCK$ should speak to a participating lender. More information about the program and a list of participating lenders can be found on the Missouri State Treasurer’s website.