Gov. Nixon’s statement on initial MDFB vote to create direct loan pool for small businesses

 Gov.
Nixon’s statement on initial MDFB vote to create direct loan pool for small
businesses

JEFFERSON CITY, Mo. — Gov.
Jay Nixon
issued the following statement regarding today’s initial vote by
the Missouri Development Finance Board to establish a direct loan program
for small businesses:

“Small businesses are the
backbone of our economy.  But during these difficult economic times, Main
Streets across Missouri are hurting, and too many small businesses are simply
struggling to keep their doors open.  To turn our economy around, Missouri
small-business owners must be able to access capital to expand their operations
and create the jobs of the future.  Today’s vote is an important step toward
creating a pool of funds to provide low- and no-interest loans that will help
small businesses grow and jumpstart our economy.  We will work with the MDFB to
quickly make these urgent job-creating resources available to Missouri’s small
businesses.”

Following today’s vote, MDFB
staff and the Finance Committee will review the proposal and develop
recommendations concerning the possible structure and funding for the loan
pool.  Additional action by the MDFB is required to approve and implement the
plan.

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