State Treasurer Eric Schmitt activates emergency loan program for Newton and McDonald counties
Wednesday, April 5, 2017
Missouri State Treasurer Eric Schmitt today announced the activation of a disaster relief program for small businesses and farms in Newton and McDonald counties impacted by severe weather on April 4.
The Harmed-area Emergency Loan Priority system, or HELP, authorizes 24-hour approval of low-interest loans for small businesses and farms damaged by the storm. HELP is administered through the Missouri Linked Deposit Program.
"Storm damage can be a devastating setback for small businesses and family farms," said Schmitt. "My team is committed to helping the communities in McDonald and Newton counties recover and activating the HELP system is one way we're doing that."
“I want to thank Treasurer Schmitt for taking action to help our community recover,” said Bill Lant, who represents Newton and McDonald counties in the Missouri House of Representatives. “I urge all impacted businesses owners and farmers to consider utilizing this unique opportunity to quickly and affordably finance their rebuilding efforts.”
The Missouri Linked Deposit Program is managed by State Treasurer Eric Schmitt. Missouri-based small businesses with up to 99 employees are eligible to receive a loan through the Missouri Linked Deposit Program based on lender 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.