The program enables lenders to receive federally tax-exempt interest on these loans. The tax savings are passed on to the customer in the form of lower interest rates. You must be a Missouri resident. You must be at least 18 years of age. The proposed project must be located in Missouri.
Partnerships are eligible if all partners meet the requirements for a loan.
The lender will have access to applications and will actually submit the application to the Authority. Missouri First Linked Deposit Program is administered by the state treasurer. This program makes funds available to lenders at reduced interest rates which are passed on to the borrower. This program is five years in length and can be used in conjunction with the MO Ag and Small Business Development Authority's Beginning Farmer Program, with similar requirements. This program goes through a local lender.