Your current location:HOME >entertainment >Missouri lawmakers back big expansion of low 正文
TIME:2024-04-19 06:23:45 Source: Internet compilationEdit:entertainment
JEFFERSON 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.
Mother charged in death of 142024-04-19 06:16
District attorney says Memphis police officer may have been killed by friendly fire2024-04-19 05:26
Gunmen ambush vehicle carrying customs officials in northwest Pakistan, killing 4 officers2024-04-19 05:10
As Kansas City Chiefs star Patrick Mahomes insists his 'dad bod' is 'great' for his NFL performance2024-04-19 05:04
Harbaugh likes Chargers being in the fifth overall position going into the NFL draft2024-04-19 04:43
Man granted parole for his role in the 2001 stabbing deaths of 2 Dartmouth College professors2024-04-19 04:35
J.K. Dobbins signs with Chargers, continuing the trend of former Ravens heading to LA2024-04-19 04:26
Natalie Portman shows Benjamin Millepied what he's missing in sexy see2024-04-19 04:22
Caitlin Clark mobbed by fans at introductory Indiana Fever press conference2024-04-19 03:55
Republicans file lawsuit challenging Evers's partial vetoes to literacy bill2024-04-19 03:46
FIFA plans to add slew of new committees years after cutting them in anti2024-04-19 06:13
Tom Schwartz rates Las Vegas kiss with Scheana Shay a FIVE as he brands it 'weird': 'So platonic'2024-04-19 05:14
A Nigerian schoolgirl abducted by extremists 10 years ago is rescued pregnant and with 3 kids2024-04-19 05:08
Olivia Dunne congratulates LSU teammate on winning top award ahead of semifinals meet2024-04-19 04:58
As earnings season rolls into its heart, hopes rise for broader gains2024-04-19 04:36
Barcelona fined by UEFA for fans making Nazi salutes, monkey gestures at Paris Saint2024-04-19 04:32
Joel Embiid stars with 232024-04-19 04:18
Arkansas Supreme Court says new DNA testing can be sought in 'West Memphis 3' case2024-04-19 04:11
REVEALED: NBC 'plans to put heart2024-04-19 03:56
Does a photo show US troops stationed in Taiwan’s Kinmen islands? — Radio Free Asia2024-04-19 03:41