JOPLIN, MO - 2902 McClelland Boulevard has been home to dentist Richard Reed since the 1970's. But today the practice reopened in a new location, after being destroyed in the May 22nd storm.
"It's been a long awaited time period, it's taken forever for this last year to come to fruition," said Dr. Richard Reed, owner of this practice.
Now located at 1009 East 20th street, the new facility is 3,700 square feet and will have 7 operating stations. Two more than the old facility did. Dr.Reed and two other dentists are glad to be out of the temporary office, which they shared with another business, and into a space they can call their own. The state treasurer's office offered help with the $650,000 rebuild.
"The state is offering funding to offset some of your interest rate," said Dr.Reed. "So we were able to obtain a lower interest rate than normal for a commercial building, which allowed me to be able to make the job happen faster," he explained.
The Missouri Linked Deposit program offers loans to small businesses at interest rates up to 35 percent lower than the standard rate.
"This loan is an important snapshot into what we need to do in Missouri as an economic development snapshot which is really simple," said Missouri State Treasurer Clint Zweifel. "It's to create an environment for existing small businesses to grow, to thrive," he continued.
This loan is estimated to save Dr.Reed about $50,000 in interest during the next five years.