Zweifel visits LipoSpectrum in St. Louis
St. Louis Business Journal
Thursday, October 8, 2009
State Treasurer Clint Zweifel visited St. Louis on Thursday to launch the revamped Missouri Linked Deposit Program, a low-interest loan program he administers.
Zweifel toured LipoSpectrum, a life science company that analyzes lipids from plants, animals and humans using patented technology developed at Washington University.
LipoSpectrum, led by co-founder and Chief Executive Milind Sant and located at the St. Louis Enterprise Center's Midtown location, got a $300,000 loan through the program.
Sant said he used the loan to buy equipment and finance costs associated with commercializing the company's technology. "As a small business, the low-interest loan allows us to retain much needed capital," he said.
Zweifel's office said the program saves borrowers an average of 30 percent on interest costs.
The loan program, with $720 million in lending power, was expanded under legislation passed this year. The program has helped businesses throughout the state with more than $220 million in loans and has another $500 million available.
