Missouri FIRST Eligible Facility Borrower Program

The Missouri FIRST Program, managed by the Missouri State Treasurer's Office, places below-market-rate deposits of state funds in Missouri financial institutions to enable eligible borrowers to obtain loans at reduced rates — typically 2–3 percent lower than standard rates. The Eligible Facility Borrower category supports agricultural development and renewable-fuel production facilities.

Borrowers must be partnerships, corporations, cooperatives, or LLCs organized under Missouri law with at least 12 producer members. Producer members must hold majority governance and voting rights, control management hiring and firing decisions, and deliver agricultural commodities to the entity for processing. Eligible facilities include development facilities (producing goods from agricultural commodities) or renewable fuel production facilities.

Maximum per loan is $1 million (effective February 28, 2019); financing cannot exceed 70% of total facility cost. Loan term is up to 5 years, extendable for two additional 5-year periods (maximum 15 years total). Refinancing of existing bank loans is no longer approved. MASBDA charges a 25 basis point application and processing fee.

The Missouri State Treasurer manages the linked deposits (573-751-2372); MASBDA reviews applications, analyzes projects, and issues approval certificates (573-751-2129, masbda@mda.mo.gov).