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Friday
January 19, 2024
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Page 9
Aruba’s ONLY English newspaper
A r u b a ’ s O N L Y E n g l i s h n e w s p a p e r
States expand low-interest loan programs for farms, businesses

and new housing

By DAVID A. LIEB
Associated Press
JEFFERSON CITY, Mo. (AP)
— On the first business day
of the new year, Missouri
Treasurer Vivek Malek began
accepting applications for
about $120 million of state-
subsidized, low-interest loans
to small businesses, farmers
and affordable housing de-
velopers.
Within six hours, Malek had
so many requests for the
money that he had to cut
off applications.
“The demand is huge, and
it is real,” Malek said.
Missouri’s situation, though
extreme, is not entirely unique.
From New York to Illinois to
Montana, states have seen
surging public interest in little-
known programs that use
state funds to spur private
investment with bargain-
priced loans. Missouri Treasurer Vivek Malek speaks about a program that uses state funds to back low-interest loans during an interview on Jan.
4, 2024, at his state Capitol office in Jefferson City, Missouri.
Associated Press
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