Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

Full Bio →

Written by

Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

Full Bio →

Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jan 25, 2013

Advertiser Disclosure

Advertiser Disclosure: We strive to help you make confident loan decisions. Comparison shopping should be easy. We are not affiliated with any one loan provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about loans. Our goal is to be an objective, third-party resource for everything loan related. We update our site regularly, and all content is reviewed by experts.

An Italian restaurant located in Missouri has received a massive $250,000 business loan.

Marcella’s Mia Sorella, was awarded a commercial loan from the Missouri Linked Deposit Program.

According to a loans.org interview with the Missouri Treasurer’s Office Communications Coordinator Meghan Lewis, the program helps banks provide low interest loans to small businesses. The program offers financing for a diverse range of industries including agriculture and energy, with small business being the most popular. 130 lenders and 350 branches participate in the program across Missouri.

“Under the Missouri Linked Deposit Program, the State Treasurer places deposits in Missouri financial institutions at a discount of up to 60 percent on the interest rate normally earned, and the financial institutions pass on the interest rate savings by reducing the loan rate normally charged by at least 30 percent to qualified borrowers,” said Lewis.

The restaurant’s commercial loan will be for 10 years and feature a 1.65 percent interest rate.

In a news release from Missouri State Treasurer Clint Zweifel, the restaurant reportedly created nearly 40 jobs in the area.

Mia Sorella opened in September of 2012.

“With the help of the Treasurer Zweifel’s office and Eagle Bank, we were able to find out about and use the Missouri Linked Deposit Program to help grow our business. I would encourage other business owners to look in to it. It was easy to work both with Treasure Zweifel and Eagle Bank through the application process,” said restaurant owner Jamie Komorek in the news release.

Two banks, Eagle Bank and Trust Company of Missouri, partnered together in order to lend the commercial loan to Mia Sorella.