The Missouri State Treasurer’s Office has announced the successful conclusion of the latest application cycle for the MOBUCK$ program, which ended on Thursday, August 29, 2024.
During the 32-day application period, the MOBUCK$ portal received a substantial 570 applications, with a total of $405,184,665 in requested funds. The applications came from a broad spectrum of Missouri’s economy, with 267 applications from the agriculture sector, making up 46.8% of the total, and 284 from small businesses, accounting for 49.8% of the total. This significant interest highlights the program’s crucial role in providing financial relief and support to Missouri’s small businesses and agricultural sectors by offering access to lower-interest loans amid a challenging economic climate.
Treasurer Vivek Malek expressed his gratitude to all participating lenders and applicants for their involvement and enthusiasm for the MOBUCK$ program. “The strong response to this latest round of applications underscores the critical need for affordable financing options for Missouri’s businesses and farmers,” Malek said. “Our office remains committed to leveraging common-sense financial solutions to empower local economies and drive growth throughout the state.”
Earlier in the year, the MOBUCK$ application portal was closed just six hours after opening due to overwhelming demand. Understanding the program’s importance as a relief mechanism from inflation for small businesses and farmers, Treasurer Malek garnered statewide support and championed legislation to expand MOBUCK$. The Missouri Legislature passed the expansion of the MOBUCK$ linked-deposit program, and Governor Mike Parson signed it into law in May 2024.
