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Asphalt Construction Company Employs 78
CASSVILLE – State Treasurer Clint Zweifel announced last week he awarded $3 million in low-interest loans to Hutchens Construction from the Missouri Linked Deposit Program. Hutchens, an asphalt construction company headquartered in Cassville used the loan to purchase a mobile asphalt plant. It has 78 full-time employees.
“Finding efficiencies in the construction process is something small business owners are constantly looking to do,” Treasurer Zweifel said. “Hutchens used this $3 million loan to purchase equipment that helps them speed up its work and save customers time and money. The company is saving an estimated $225,000 – real capital it can use to improve business.
Hutchens Construction was founded in 1961, and in addition to Cassville, has plant locations in Eagle Rock, Mo., Monett, Mo., Shell Knob, Mo., Washburn, Mo., Gravette, Ark., Sonora, Ark., and Springdale, Ark. Hutchens specializes in rock installation and asphalt paving, including pavement rehabilitation and decorative pavement. It provides services for commercial or industrial sites and private projects.
Commerce Bank partnered to make these loans. The southwest region has received more than $107 million in loans impacting more than 2,000 jobs and farmers since January 2009. More than $820 million in loans have been approved statewide impacting more than 13,900 jobs and farmers. Qualifying borrowers generally save 30 percent on the cost of the loan.
The Missouri Linked Deposit Program is managed by State Treasurer Clint Zweifel. Missouri-based small businesses with up to 99 employees and farmers are eligible to receive a loan through the Missouri Linked Deposit Program based on lender underwriting standards.
Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. About 130 lenders with 350 branches throughout Missouri use the Missouri Linked Deposit Program. An extensive list of participating lenders and program eligibility guidelines are online at www.treasurer.mo.gov/Linked Deposit