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News Brief

Jan. 4, 2024Jefferson City, Mo. |  By: Jeremy Werner

MOBUCK$ program funds already depleted

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JEFFERSON CITY, Mo. - Missouri State Treasurer Vivek Malek announced that the MOBUCK$ loan program witnessed overwhelming demand, depleting its available funding within six hours on the first business day of 2024.

The MOBUCK$ application portal, which had been closed since May 2023 due to reaching the statutory limit, had to be shut down again.

The surge in applications totaled 142, seeking over $119 million in funds. Treasurer Malek urged state lawmakers to expand the program, emphasizing its popularity and effectiveness in providing relief from high-interest rates.

The current proposal is to increase MOBUCK$ maximum capacity by $400 million, addressing the pressing needs of Missouri's farmers, small businesses, and housing providers.