New Program Put in Place to Help Missouri Farms and Businesses with Recovery

A new program was put in place in the state capital to assist small business owners along with farmers, who have been effected by this year’s record flooding. The new program will be called LIFT, Linked Deposits to Invest and Fund a Timely Recovery. State Officials say, LINK will use linked deposits to partner with Missouri financial institutions to provide low interest loans for small businesses and farmers impacted by natural disasters. The new program enables the maximum statutory discount to lending institutions for each linked deposit loan, lowering the interest rate and maximizing savings for the borrower. Refinancing of existing debt as well as Expedited approval notification (once due diligence is completed. The new program also enables a linked deposit totaling $2 million for those who nhave been affected by natural disasters throughout the state. Those, who wish to take part in the new program their business or farm must have sustained damage within a county that has a Major Disaster Relief from FEMA officials Lift applications are now being accepted in the counties of Perry, St. Genevieve, New Madrid, Mississippi, and Pemiscot.

Photo Gallery