Missouri State Treasurer Vivek Malek stopped by the Saline County Courthouse to meet with local officials to discuss the MOBUCK$ program on Tuesday, October 31.

Malek discussed the local impact of the MOBUCK$ low-interest loan program, and shared his plan to work on legislation that would expand the successful program’s capacity. Through the MOBUCK$ program, lenders are allowed to lower interest rates to the borrower by about 2-3 percent.

Malek says the program has become a lifeline for farmers and small business owners as interest rates have risen.

The State Treasurer’s Office indefinitely suspended acceptance of MOBUCK$ applications due to a statutory limit on the total dollar amount available to loan in May 2023. Due to the increased demand, Treasurer Malek is asking the Missouri General Assembly to expand the program’s capacity to help small business owners and farmers. The General Assembly is scheduled to return in regular session beginning on Wednesday, January 3, 2024.

The State Treasurer’s Office will begin accepting new applications for loans beginning Tuesday, January 2, 2024.