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March 11, 2011ST. JOSEPH | By: Wayman
Two St. Joseph businesses are taking advantage of nearly 1.3 million dollars in low-interest state loans.
"Water Doctor", a local treatment company, is awarded an $80,000 low-interest loan through the Missouri linked deposit program. The company plans on purchasing new service trucks and has 8 full time employees. Local grocery stores Kovac's north and Kovac's south received a $1.2 million dollar loan. That should save the stores about a hundred thousand dollars in interest over the next 5 years. Kovac's employs 23 full-time workers. The Missouri linked deposit program offers small business owners and farmers low-interest loans so they can create jobs. SInce the state program started officials say 34 million dollars in loans have been issued to northwest Missouri borrowers impacting 297 jobs and 286 farmers.