First State Bank of St. Charles Partners in Low-Interest Loans Through Missouri Linked Deposit Program.

State Treasurer Clint Zweifel announced he has awarded low-interest loans to a vehicle collision repair shop and graphic design and print shop in the St. Louis region. The Body Shop, a full-service collision repair auto shop in O’Fallon, Mo., received a $120,000 loan to purchase equipment and make facility improvements. Adgraphix, a graphic design and digital printing company in Brentwood, Mo., received $66,000 to purchase new equipment.

The Body Shop was established in 1985. It is a direct repair facility for several insurance carriers in the St. Louis area. It has five full-time employees. The low-interest loan will save it an estimated $13,000 over five years should it choose to take out loans for that length of time. First State Bank of St. Charles partnered to make this loan.

“This business is about partnerships, partnerships with our customers, their insurance agencies and the community,” said Thomas Whitelaw, The Body Shop owner. “We pride ourselves on providing high-quality customer service to individuals dealing with a stressful time in their lives. The Missouri Linked Deposit Program is helping us purchase equipment and make updates to our facility that we need to meet the promises we have made to our customers.”

The St. Louis region has received more than $125 million in loans impacting more than 2,700 jobs and farmers since January 2009. Qualifying borrowers generally save 30 percent on the cost of the loan. More than $820 million in loans have been approved statewide impacting more than 13,900 jobs and farmers.