As Missouri’s State Treasurer, I have the privilege of seeing every day the important role small businesses play in communities across our state. They create jobs, provide essential services and give Missourians the opportunity to build something of their own.

The overwhelming response to the recent MOBUCK$ Small Business application period reflects the important work Missouri small businesses are doing in our state. More than $200 million in funding was requested, demonstrating both the demand for affordable financing and the determination of Missouri entrepreneurs to invest in their businesses and communities.

MOBUCK$ has a long history of putting Missouri’s resources to work for Missourians. In 1986, the Missouri General Assembly created the Linked Deposit Program during the tenure of State Treasurer Wendell Bailey. Four decades later, the program continues to provide financing opportunities for businesses and other eligible borrowers across our state.

By partnering with qualified lending institutions, MOBUCK$ helps reduce borrowing costs and expand access to affordable financing. Those savings can help a business purchase equipment, improve a facility, expand operations or invest more resources in future growth.

The response to the recent portal opening was so strong that demand exceeded the funding available. Applications were considered on a first-come, first-served basis once all required documentation was complete. While not every request could be funded, the level of participation shows just how important access to affordable capital is for businesses across Missouri.

I appreciate the businesses and participating lenders that took part in this application cycle. Their efforts made this opening a success and highlighted the strong partnership between Missouri’s financial institutions, small businesses and the State Treasurer’s Office.

The benefits of that partnership can be seen throughout our state. When businesses have access to more affordable financing, they have greater opportunities to invest in equipment, facilities and expansion, helping strengthen local economies and communities.

When our small businesses succeed, Missouri succeeds. I am proud of what MOBUCK$ is helping accomplish, and we will continue working to support businesses that invest, create jobs and build their futures right here in our state.