Treasurer Schmitt Announces Disaster Relief for Small Businesses and Farms Impacted by Malden Tornado
Thursday, March 1, 2018
JEFFERSON CITY, Mo — Missouri State Treasurer Eric Schmitt today announced the activation of a disaster relief program in Dunklin County for small businesses and farms damaged by last week’s devastating storms.
The Harmed-area Emergency Loan Priority system, or HELP, expedited 24-hour approval of low-interest loans for small businesses damaged by the storm. HELP is administered through the Missouri Linked Deposit Program, which partners with local lending institutions to make the loans possible.
“We know it takes time and resources for a community to fully recover from the devastating impact of a storm this size,” Schmitt said. “The HELP system can speed up that process by allowing farmers and small business owners to quickly secure financing for immediate needs related to rebuilding and recovery.”
The Missouri Linked Deposit Program is managed by the State Treasurer’s Office. Missouri-based small businesses and agricultural operations are eligible to receive a loan through participating Missouri Linked Deposit Program lenders based on their underwriting standards.
About 115 lenders with 350 branches throughout Missouri participate in the Missouri Linked Deposit Program. An extensive list of participating lenders and program eligibility guidelines can be found online at www.treasurer.mo.gov/LinkedDeposit.