The State of Missouri is committed to providing incentives and financing for a strong and growing automobile industry. Below are links to loan programs that are of interest to Advanced Manufacturing companies like those in the automotive suppliers industry.
State of Missouri Loan Programs
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Grow Missouri Loans
The Missouri Department of Economic Development (DED) may provide creditworthy suppliers a loan of up to 10% of the project financing, limited to $3 million per project. The principal payments may be deferred for up to 6 years. Borrowers must provide health insurance. The borrower may apply for the Grow Missouri 10% portion, and if approved, would have up to 120 days to secure the other 90% of funding for the project, which may not include other state funding.
Learn more about Grow Missouri Loans >>
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Action Fund Loans
DED may provide creditworthy suppliers located in non-metropolitan areas a loan of up to 40% of project funding, limited also to $750,000 per project, or $25,000 per new job created (whichever is less).
Learn more about Action Fund Loans >>
Federal Loan Programs