A new initiative in Missouri is offering small businesses and agricultural operations better opportunities to expand. Thursday State Treasurer Eric Schmitt joined business and finance leaders in downtown St. Louis to launch the Missouri FIRST program.
Missouri FIRST which stands for Financing Investment in our Rural, Small Business and Technology communities, revamps the state’s linked deposit program. For one, the single-use restriction for borrowers has been lifted, allowing them to apply for another loan after their five-year term is up. Hart Nelson of the St. Louis Regional Chamber of Commerce, says this will benefit Missouri’s economy.
The program also expands the eligibility criteria for agricultural loans.