Fulton, MO 66° View Live Radar Thu H 72° L 56° Fri H 70° L 57° Sat H 72° L 55° Weather Sponsored By:

Loan program to convert mid-Mo. welfare recipients to business owners

Loan program to convert mid-Mo. welfare recipients to business owners

August 1st, 2011 in News

A community action program to provide start-up loans to needy Central Missourians who want to start their own business is now offered by Central Missouri Community Action (CMCA).

Darin Preis, CMCA executive director, said the microenterprise program is an attempt to break the cycle of poverty by creating business owners from welfare or low income recipients.

Preis said the community action agency is now attempting to raise a pool of money that can be used to loan to eligible needy people.

The community action microenterprise loan program, he said, is a loan pool similar to loan programs operated by U.S. foreign aid agencies in underdeveloped nations.