MOBUCK$ offers low-interest loans to small businesses

A linked deposit product called MOBUCK$ enables institutions to get money at cheaper interest rates. In other words, money will be given to a lender to fund a loan by the Missouri Treasurer’s Office. Lender receives the funds at a discounted market rate. The savings are then transferred by the lender to the borrower.

According to Fitzpatrick, there will be more savings the larger the loan. But, you know, not every loan is a million dollars, right? This could be anything, for example, purchasing a car and needing to finance it or a little piece of equipment. Whatever the requirement, the program can meet it. It may be as large as the construction of an entirely new manufacturing plant, a loan for a farmer, or a loan secured by cattle.

Lenders might reduce the interest rate by 2% to 3% using this service. The previous name of the program was . To offer these loans to qualified borrowers, the Treasurer’s office has worked with more than 140 lenders across the state. Due to the MOBUCK$ loan’s lower interest rate, Terry Harden of Terry’s Towing was able to settle the debt early.

“The MOBUCK$ loan is a better option if you wish to save money. More cash in your pocket equals less cash in someone else’s, according to Harden. “Therefore, you win and win here,”

There are six main types of software, and each has its own specifications. Click HERE for additional details about the MOBUCKS Program.

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