Your current location:HOME >business >Missouri lawmakers back big expansion of low 正文
TIME:2024-05-21 06:16:24 Source: Internet compilationEdit:business
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a low-interest loan program for farmers and small businesses, in a move that reflects strong consumer demand for such government aid amid persistently high borrowing costs.
The legislation comes as states have seen surging public interest in programs that use taxpayer funds to spur private investment with bargain-priced loans. Those programs gained steam as the Federal Reserve fought inflation by repeatedly raising its benchmark interest rate, which now stands at a 23-year high of 5.3%.
Higher interest rates have made virtually all loans more expensive, whether for farmers purchasing seed or businesses wanting to expand.
Under so-called linked-deposit programs, states deposit money in banks at below-market interest rates. Banks then leverage those funds to provide short-term, low-interest loans to particular borrowers, often in agriculture or small business. The programs can save borrowers thousands of dollars by reducing their interest rates by an average of 2-3 percentage points.
Student fatally shot, suspect detained at Georgia's Kennesaw State University2024-05-21 06:01
Tauchman homers twice as Cubs win 72024-05-21 05:55
Texas ranch hits the market for $4.8 million and is PERFECT for waterpark lovers2024-05-21 05:17
Kim Kardashian shares selfie with Taylor Swift's ex2024-05-21 04:38
Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire2024-05-21 04:25
Migrants indicted in Texas over alleged border breach after judge dismissed charges2024-05-21 04:17
Shawn Mendes, 25, REUNITES with chiropractor pal Dr. Jocelyne Miranda, 52, for morning walk in LA2024-05-21 04:10
Nepal's president asks visiting Qatari emir to help free student held hostage by Hamas2024-05-21 03:56
Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers2024-05-21 03:44
The EU will probe whether China is unfairly denying companies access to its medical devices market2024-05-21 03:31
The government wants to buy their flood2024-05-21 06:14
Man accused of firing a gun on a North Carolina university campus taken into custody2024-05-21 05:33
Witt's 22024-05-21 05:29
Villagers in Mexico organize to take back their water as drought, avocados dry up lakes and rivers2024-05-21 05:19
OpenAI pauses ChatGPT voice after Scarlett Johansson comparisons2024-05-21 05:14
Shawn Mendes, 25, REUNITES with chiropractor pal Dr. Jocelyne Miranda, 52, for morning walk in LA2024-05-21 04:39
Famke Janssen, 59, shows off her age2024-05-21 04:39
The Latest2024-05-21 04:15
Liverpool confirms Arne Slot as Jurgen Klopp's replacement2024-05-21 04:06
Vick Hope wows in a plunging white swimsuit and flashes her leg in a thigh2024-05-21 03:43