Arnold Business Gets $500,000 State Loan

The , formerly at 1204 Jeffco Blvd., recieved a $500,000 low interest loan to buy a new building and expand its business in the city. 

The loan is part of a small-business program run by the Missouri State Treasurer's office, a news release said.

“The Missouri Linked Deposit Program offers small businesses the low-interest capital they need to add jobs, buy that second location or start from scratch," Treasurer Clint Zweifel said.

Nearly one billion dollars has been approved in loans for small businesses and farms, he said. "That means new jobs, new stores and stronger communities. I continue to work with lenders across the state to make sure small businesses and farmers have the tools they need.”

The Arnold Rental Center's loan will help it save about $35,000 in interest over the next five years if it needs additional loans.

The business employs 10 full-time workers. The business rents equipment—such as skid steers, log splitters, ladders, lifts, trenchers and stump grinders—to home owners and contractors.

Commerce Bank helped provide the loan.

The Missouri Linked Deposit Program exists to help Missouri small businesses— with up to 99 employees and farmers—receive low-interest loans. Also local governments, housing developments and alternative-energy focused projects may qualify for the financing. 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.

Editor's Note: Our apologies for omitting the word "save" in the fifth paragraph.