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Sunday, January 12, 2014

$25,000 Loans Offered to Small Businesses in Missouri

Macon County Economic Development Center
The Macon County Economic Development Center (MCEDC) in Missouri is stating out the new year out with a helping hand to small business owners, or those who want to be small business owners. They are offering five low-interest loans of $25,000 each to qualifying local small business owners.

Many small businesses struggle to find sources for loans; it's even harder to find grants, which are free money that doesn't have to be paid back. The MDEDC is offering an opportunity for local entrepreneurs, developers and other companies to either start a new business or expand their existing business. The program is particularly interested in companies that will increase jobs or attract more business to the area.

Each business application will be evaluated and five businesses will be chosen. The loans will be awarded on a first-come, first-served basis. Businesses may receive low-interest loans of 50 percent of project costs up to $25,000. All eligible businesses must be located within Macon County.

The program is good news for many small businesses who have to compete for money that is often reserved for large manufacturers. As Macon County Economic Development Director Denise Bennett stated, "our community wanted something where we could benefit the small business man."

For more information, visit www.maconcounty.org/Financing.aspx
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