Missouri Offers Faster Loans for Farmers

JEFFERSON CITY, Mo. (AP) — Farmers suffering from this summer’s dry, hot weather could get some help through the state treasurer’s office.

Treasurer Clint Zweifel says he is offering emergency 24-hour approvals of low-interest loans through the Missouri Linked Deposit Program because of the drought conditions.

Under the program, the state deposits money at low rates in banks, which in turn can supply low-interest loans to farmers or businesses. Zweifel says it normally takes about 10 days to approve a deposit for a loan, but that can be sped up in emergencies.

© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

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