Friday, Dec. 30 2011 7:07AM
Local soap products firm gets state loan
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ReprintState Treasurer Clint Zweifel has awarded Liquid Soap Products of Lee’s Summit a $428,000 low-interest loan through the Missouri Linked Deposit Program.
The business, which has 22 full-time employees, is using the loan to purchase new manufacturing equipment that will allow it to efficiently produce environmentally friendly soap products.
“Innovative small businesses that are aware of our environment and the new demands of savvy customers are very important to our economy both locally in the Kansas City region and the state,” Zweifel said. “Liquid Soap Products has been providing biodegradable cleaning products since 1987. Originally based in Lexington, they moved to the Kansas City area to expand their opportunities and have grown to become a global distributor of cleaning products. They still own and utilize the Lexington facility.”
Liquid Soap Products ships to 12 countries in North America, Europe and Asia. It produces, sells and distributes cleaning products through water purification sales companies.
The products include personal care, home care and pet care products. All materials used are biodegradable.
The new manufacturing equipment will allow Liquid Soap Products to expand production capacity while reinvesting in the business. The low-interest loan will save the business an estimated $30,000 during the next five years should the business choose to take out loans for that period.
“Our business is dedicated to providing our customers the environmentally friendly products they demand as part of their everyday lifestyle,” said Doug Glasscock, Liquid Soap Products president. “For more than 20 years we have been growing and diversifying the products for our customers, and it is vital for us to continue to do so, which is exactly what this new equipment will help us do.”
Commerce Bank partnered to make the Missouri Linked Deposit Program loan.
The program is managed by the State Treasurer’s office, and Missouri-based businesses with up to 99 employees are eligible to participate based on lender underwriting standards. Additionally, local governments, housing developments and alternative-energy focused projects may qualify for the low-interest loans. About 130 lenders with 350 branches throughout Missouri participate in the Missouri Linked Deposit Program.
