Current location:world >>
Missouri lawmakers back big expansion of low
world957People have gathered around
IntroductionJEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a ...
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers gave final approval Thursday to significantly expand a low-interest loan program for farmers and small businesses, in a move that reflects strong consumer demand for such government aid amid persistently high borrowing costs.
The legislation comes as states have seen surging public interest in programs that use taxpayer funds to spur private investment with bargain-priced loans. Those programs gained steam as the Federal Reserve fought inflation by repeatedly raising its benchmark interest rate, which now stands at a 23-year high of 5.3%.
Higher interest rates have made virtually all loans more expensive, whether for farmers purchasing seed or businesses wanting to expand.
Under so-called linked-deposit programs, states deposit money in banks at below-market interest rates. Banks then leverage those funds to provide short-term, low-interest loans to particular borrowers, often in agriculture or small business. The programs can save borrowers thousands of dollars by reducing their interest rates by an average of 2-3 percentage points.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“World Watchers news portal”。http://timor-leste.unhasdecoradas.org/content-81f699239.html
Related articles
Shooting injures 2 at Missouri high school graduation ceremony
worldCAPE GIRARDEAU, Mo. (AP) — Two people were injured when gunfire broke out during a high school gradu ...
【world】
Read moreCanada blows 5
worldPRAGUE (AP) — Canada squandered a five-goal lead in the third period before John Tavares scored 15 s ...
【world】
Read moreAstros get 2
worldHOUSTON (AP) — Victor Caratini hit an RBI single in the 10th inning to lift Houston to a 2-1 win ove ...
【world】
Read more
Popular articles
- Baby Reindeer's real
- What to stream: New Billie Eilish and Zayn Malik albums, 'Bridgerton'
- China completes construction of space weather telescope
- Brazilian dance craze created by young people declared cultural heritage
- Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
- China's FAST telescope discovers distant gas
Latest articles
Siblings trying to make US water polo teams for Paris Olympics
My neighbour's garden lights keep me awake
Missouri doomsday BUNKER complete with its own 80ft antenna tower hits the market for $300,000
Jason Kelce to be part of 'Monday Night Football' pregame show, ESPN announces
Liverpool confirms Arne Slot as Jurgen Klopp's replacement
Susanna Tapani scores her second OT winner of the series to help Boston advance to the PWHL finals
LINKS
- Kylie Jenner wears bullet
- Irina Shayk shines in a Swarovski gown at the 2024 Met Gala
- Gone fishing... for some of New Zealand's trickiest trout: A stay at the world
- Atlanta to pay $3.8 million to family of church deacon who died in struggle with officer
- PGA Championship invites 7 LIV players to get top 100 in the world
- Murder trial opens in death of Detroit
- Penske suspends Cindric, 3 others ahead of the Indianapolis 500
- Giro leader Tadej Pogacar finally takes it easy in Stage 4. Jonathan Milan takes a sprint victory
- Murder trial opens in death of Detroit
- Met Gala 2024: Rita Ora goes nude in a barely