Drought, Interest Rates Dry Up Funds For Missouri’s Low-Interest Loan Program

The Federal Reserve has raised interest rates to combat ongoing inflation.

Due to the decisions, and this year’s drought impacting Missouri farmers, the state has temporarily suspended applications for its low-interest loan program.

Missouri State Treasurer Vivek Malek says the MOBUCK$ program had to be suspended because the 800-million dollars designated for the program was quickly running out…

The State Treasurer’s Office plans to begin accepting applications for MO-Bucks loans again, starting January 2.

Malek says these loans are available for small businesses, farmers and local government agencies across Missouri.