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St. Charles County News News & Information on trends, events and business in the St. Charles County including the cities of St. Charles, O'Fallon and St. Peters, Missouri St. Louis Front Page P.O. Box 1354 St. Louis, MO 63188 Voice: 314-771-0200 Fax: 314-771-0300 To submit news, contact: editor@slfp.com To advertise, contact: advertising@slfp.com  |
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Missouri Linked Deposit Program Helps St. Charles Business Refinance ST. CHARLES, MO, (SLFP.com), February 7, 2010 - State Treasurer Clint Zweifel was in St. Charles Friday to announce a $575,000 small business loan impacting 23 local jobs. Treasurer Zweifel made the announcement at Sams Carpet Cleaning and Repair. The low-interest loan, made through the Missouri Linked Deposit Program, will save the company an estimated $37,000 in interest costs. Qualifying borrowers generally save 30 percent on the cost of the loan. "Job creation and moving Missouri's economy forward in a fiscally sound manner are my top priorities. Giving small businesses like Sams Carpet Cleaning the ability to reduce interest costs lets them invest in an economic turnaround," Treasurer Zweifel said. "This single loan impacts 23 local jobs and costs taxpayers nothing. It does what we need to do right now; help small businesses free up capital to expand and create new jobs. All told in 2009, we loaned out $200 million statewide impacting 2,300 Missouri jobs." Jeff Sams, owner of Sams Carpet Cleaning and Repair, used the $575,000 loan to refinance his 17,850-square-foot building in St. Charles. By using the Missouri Linked Deposit Program, his loan rate was reduced 2.15 percent. The interest savings on the loan will allow the company to expand its customer base. "Participating in the Missouri Linked Deposit program has allowed our business to lower our interest rate, generating more cash flow. This will free up additional funds to invest in technology, training and expansion. For a small business owner like myself, the cost savings and extra capital comes at a great time and allows us to invest in updating our locally-owned and operated business," Sams said. First State Bank of St. Charles made the loan to the company after recently signing up to use the Missouri Linked Deposit Program. The bank was able to win the company's business because of the low-interest it was able to offer through the loan program. "The Missouri Linked Deposit Program allows our community bank to provide low-interest loans to qualified local small businesses. With reduced interest expense, businesses can use that savings to help strengthen their balance sheet and work toward future expansion," said Luanne Cundiff, Senior Vice President of First State Bank of St. Charles. Since January 2009, $13.1 million in loans have been approved for the St. Louis region, impacting 244 jobs and saving an estimated $275,000 in interest costs. St. Charles County has received $1.6 million of that investment, impacting 44 jobs saving an estimated $59,000 in interest. Crosby Chiropractic, LipoSpectrum and Sur-Med Instruments are a sampling of loans made in the St. Louis region. The Missouri Linked Deposit Program, which was expanded in 2009 as part of Treasurer Zweifel's jobs and economic development package, has $720 million in lending power. Of the $200 million loaned since January 2009, $6.9 million impacting 223 jobs was made possible by Treasurer Zweifel's legislation. Any farm in Missouri is eligible to receive a loan through the Missouri Linked Deposit Program and small businesses with up to 99 employees qualify. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. Rec-Plex Sparks Olympic Spirit with 2010 Winter Games ST. PETERS, MO, (SLFP.com), January 18, 2010 - Parents are invited to bring their children ages 5 and up to the Rec-Plex north ice rink on Sunday, Feb. 21, from 4-6 p.m. to participate in five on-ice activities-ice hockey, figure skating, curling, speed skating and slalom-all inspired by the Olympic games in Vancouver. Off-ice activities including Olympic bingo and trivia are available as well. The cost is $5 per participant and covers skate rental. When checking in, registered participants will receive credentials that allow them to participate and an agenda explaining what is required for each sport. After completing the events, participants will receive a medal and have an opportunity to pose on an awards stand for pictures. No skating experience is required to participate in this first-time event. Children 7 and under who participate in the event must be accompanied by someone at least 13 years of age. Skates must be worn at all times while on the ice. Families are encouraged to bring a camera to snap some pictures of their athletes during the activities and on the awards stand. After the Winter Games, participants have the opportunity to stay at the Rec-Plex and watch local youngsters represent different countries of the world in the Winter Games 3 vs. 3 Hockey Tournament. St. Peters Spirit hockey players ages 7 and under will compete. Register for the Rec-Plex Winter Games in person at the Rec-Plex, 5200 Mexico Road, by phone at 636.939.2FUN, ext. 1400, or online using Rec-Connect. Registration ends Feb. 20. St. Charles to Hold General Municipal Election ST. CHARLES, MO, (SLFP.com), January 8, 2010 - A General Municipal Election will be held on April 6, 2010, to elect five Council members to represent Wards 6, 7, 8, 9, and 10. Certificates of Nomination are now available from the Office of the City Clerk to any person desiring to be nominated who shall request the same personally or in writing on his or her behalf at the Office of the City Clerk. Not less than 25 signatures of qualified registered voters within the respective Ward are required on nomination petitions in order to have the candidate's name placed on the ballot. Filing dates will be from 8:00 a.m., Tuesday, January 12, 2010, through 5:00 p.m., Tuesday, January 19, 2010. If you have any questions, please call the City Clerk's Office at 949-3282. Return to St. Louis Front Page  The St. Louis Front Page is owned and maintained by the Moore Design Group for the sole purpose of disseminating news and information about the Metropolitan St. Louis area. Text or graphics may not be copied, rewritten or distributed in any manner whatsoever without written permission. For more information, contact editor@slfp.com All rights reserved world wide © 1996 - 2010 Moore Design Group. |
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