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Small Business Center

States Face Demand for Low-Interest Loans Amid Fed Rate Hikes

January 24, 2024

On the first business day of 2024, Missouri State Treasurer Vivek Malek experienced an unprecedented surge in applications for approximately $120 million of state-subsidized, low-interest loans. This trend is not unique to Missouri, as states like New York, Illinois and Montana witness increased public interest in linked-deposit programs, which utilize state funds to provide affordable loans, especially in response to recent interest rate hikes. The programs offer small businesses relief in the face of rising loan costs.

Read the full story in Inc.

By Rebecca Meiser

Contributor, Commerce + Communities Today and Small Business Center

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