Mo. Small Business Loan Program Takes First Step

By DAVID A. LIEB

JEFFERSON CITY, Mo. (AP) -- Gov. Jay Nixon's plan to provide loans to small businesses took a step forward Tuesday despite some concerns about whether a state finance board could afford it.

The Missouri Development Finance Board voted to seek proposals from private-sector groups to administer the loans while simultaneously studying how the plan would affect the board's own finances.

Nixon's proposal would use $2 million from the finance board to establish a loan pool that could provide up to $25,000 each to businesses with five employees or fewer. ...