BIG Missouri Veterans Program Press Release

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Posted at 08:44 AM on Friday, May 9, 2008 by Missouri

Sarah Steelman                      MISSOURI STATE TREASURER          Kelly Gunderson
     Treasurer                                            Room 229, State Capitol                     Director of
State of Missouri                                  Jefferson City, Missouri 65101             Communications
(573) 751-2411                                      (573) 751-7595

FOR IMMEDIATE RELEASE                           April 14, 2008

Steelman Creates New Help for Missouri Veterans

JEFFERSON CITY- State Treasurer Sarah Steelman announced today that her office is rolling out a new initiative to help Missouri veterans within the BIG Missouri linked-deposit program. Those eligible for the new veteran’s initiative include business owners and farmers who are: veterans, reservists or members of the National Guard, their spouses, widows or widowers of veterans who died in service or who died of a service-connected disability. Steelman also announced she is teaming up with the Small Business Administration and state veterans groups for even more help to veterans and active duty personnel.

“Veterans, active service men and women, and their families are the reason we have the freedom and the ability to provide for our families and pursue our dreams,” said Treasurer Steelman. “I want them to have all the help they can get so they can make a better way for their families too.”

The BIG Missouri Program allows qualifying small business owners and farmers to receive loans from their preferred participating Missouri financial institution at a rate that will usually save them about 25-30% of their interest costs. Under the program, below-market rate deposits of state funds are placed in Missouri financial institutions which allow approved borrowers to receive the lowered interest rate.

By utilizing the U.S. Small Business Administration’s new Patriot Express Pilot Loan Initiative along with Steelman’s BIG Missouri program, veterans can benefit even more. The Patriot Express Initiative is a loan guarantee program that allows eligible veterans and members of the military wanting to establish or expand a small business to apply for loans up to $500,000. Steelman said her office is working with the SBA to ensure collaboration on the two programs.

“The Patriot Express program can guarantee about 75% of a loan for our veterans, and the BIG Missouri program can then reduce the interest rate on that loan,” said Steelman. “This is big help for our veterans and active service members who so richly deserve it.”

Steelman was joined at today’s press announcement by State Rep. David Day, Rich Heighert the Legislative Chairman for MAVO (Missouri Association of Veterans Organization), and Hal Dulle the Executive Director of the Missouri Veterans Commission. Steelman said her office is working with all the state veterans organizations to get the word out to veterans and active service personnel that this help is available to them.

The new program is part of Steelman’s Operation Extra Mile, which provides special assistance to veterans and their families. Steelman currently matches veterans databases with her Unclaimed Property database to find veterans, active duty personnel and their families who have unclaimed property.

To find out more about the BIG Missouri Program check out the State Treasurer’s website: www.treasurer.mo.gov. And, to find out more about the SBA Patriot Express Pilot Loan Initiative check out their website at: www.sba.gov.

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