Missouri State Treasurer Clint Zweifel
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Thursday, March 29, 2012

Audrain County business, Maries County farmer receive $200,000 in low-interest loans from State Treasurer Clint Zweifel

Small business purchasing truck and farmer bringing in more cattle

MADISON, Mo. – State Treasurer Clint Zweifel (ZWY-ful) announced today he has awarded $200,000 in low-interest Missouri Linked Deposit Program loans to JP Transportation, a new trucking company, based in Madison, and to Zachary Honse, a Maries County farmer from Vienna, Mo.

"It is exciting for our state and local communities each and every time a business decides to open its doors or a farmer makes a commitment by purchasing seed, equipment or livestock," Treasurer Zweifel said. "JP Transportation and Zachary are taking a leap of faith that is good for our economy. If we are going to grow our state, we have to be there to support each of them."

The $161,000 loan for JP Transportation will save it an estimated $13,000 in interest over the next five years should it choose to take out loans for that period. The company, owned and operated by Johnny Pemberton, is purchasing a new tractor trailer. Pemberton has worked for other companies as a long-distance trucker before starting his own company. The company is a subcontractor for Landstar System Inc. Commerce Bank partnered to make the loan.

Honse’s $40,000 loan will save him an estimated $3,000 over the next five years should he choose to take out loans for that period. Honse has helped on his grandfather’s farm most of his life. He is using his loan to purchase beef cattle, expanding and investing in his one-year-old farming operation. Maries County Bank partnered with Treasurer Zweifel to make this loan.

Since January 2009, mid-Missouri has received more than $275 million in loans impacting more than 3,800 jobs and farmers. Statewide, nearly $950 million in loans have been approved impacting more than 16,000 jobs and farmers. Qualifying borrowers generally save 30 percent on the cost of the loan.

About the Missouri Linked Deposit Program
The Missouri Linked Deposit Program is managed by State Treasurer Clint Zweifel. Missouri-based small businesses with up to 99 employees and farmers are eligible to receive a loan through the Missouri Linked Deposit Program based on lender underwriting standards. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. About 130 lenders with 350 branches throughout Missouri use the Missouri Linked Deposit Program. An extensive list of participating lenders and program eligibility guidelines are online at www.treasurer.mo.gov/LinkedDeposit.

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