Sams Carpet Cleaning to add jobs with $575,000 loan

Sams Carpet Cleaning and Repairs in St. Charles has received a $575,000 low-interest loan to help it maintain its 23 employees and hire more.

“Everyone knows the economy with the way it is, it is our job as the owner to cut costs as much as we can without laying off people,” said Jeff Sams, owner of the 25-year-old company. “This allowed us to refinance our property where we keep our vehicles and lower our interest rate so we aren’t spending so much money on interest on loans.”

As a result, Sams was able to reduce his loan rate by 2.15 percent, buy equipment to clean oriental rugs and hopefully add three or four more employees in the next six months.

First State Bank of St. Charles made the loan, made possible through the Missouri Linked Deposit Program, which has $720 million in lending power.

The state program was expanded as part of a jobs and economic development package State Treasurer Clint Zweifel developed and pushed for passage in the 2009 legislative session.

In 2009, more than $200 million in loans were issued impacting 2,277 jobs and 1,000 farms, saving millions in interest costs, Zweifel’s office said.

Zweifel visited Sams Carpet and its 18,000-square-foot facility at 1602 North Fourth St. on Friday to announce the loan.