FOR IMMEDIATE RELEASE

Hannibal Industrial Development Company Awards $15,000 Loan to Support Expansion of Jones Machining Company LLC

HANNIBAL, MO – June 9, 2025 –

The Hannibal Industrial Development Company (HIDC) has approved a $15,000 loan to Jones Machining Company LLC, a precision machine shop based in Palmyra, Missouri. The loan will help owner Leighton Jones purchase additional materials and increase capacity for larger, more complex projects as the business scales to meet growing demand.

Jones Machining’s loan was made possible through HIDC’s Revolving Loan Fund, which offers flexible, growth-oriented financing to businesses in Marion and Ralls Counties. HIDC serves as a valuable complement to traditional financing by offering flexible lending options, particularly for projects that may not align with conventional loan structures. The program often partners with local banks to fill funding gaps, providing added flexibility on collateral and repayment terms with an emphasis on supporting local reinvestment.

Based in Palmyra, Jones Machining Company LLC serves manufacturers across the tri-state region—offering a trusted solution amid labor shortages and long lead times in the machining sector.

“Receiving this loan means I can take on bigger jobs and serve more clients without compromising on quality or turnaround time,” said Leighton Jones, owner of Jones Machining Company. “I’m grateful for the support from HIDC and the Small Business Development Center. They’ve both helped make my next step possible.”

“HIDC was created to do exactly this—help promising local businesses close the gap between vision and execution,” said Maria Kuhns, Executive Director of the Hannibal Regional Economic Development Council (HREDC) and HIDC board member. “Leighton Jones is building something important for our regional economy, and we’re proud to be part of that story.”

Jones Machining also received support from the Missouri Small Business Development Center (SBDC) at HREDC. The SBDC provided business planning assistance to help Jones prepare for the loan application process and continues to serve as an advisor as the company grows. The Missouri SBDC at HREDC offers no-cost, one-on-one support and training to entrepreneurs throughout Northeast Missouri.

Founded in 1952, HIDC is funded by area citizens and businesses that have purchased shares to invest directly in local economic growth. The organization supports startups, small expansions, and seed-stage projects by providing loans that stimulate private lending and create ripple effects across the regional economy.

About the Hannibal Industrial Development Company (HIDC)

Founded in 1952, HIDC is funded by area citizens and businesses that have purchased shares to invest directly in local economic growth. The organization supports startups, small expansions, and seed-stage projects by providing loans in Marion and Ralls Counties that stimulate private lending and create ripple effects across the regional economy.

Through its Revolving Loan Fund, HIDC offers flexible loans for equipment, inventory, working capital, and more—helping local businesses start, grow, and reinvest in the region. Hannibal Regional Economic Development Council serves as the administrative agent for HIDC.

About the Missouri SBDC at HREDC

The Missouri Small Business Development Center at HREDC offers confidential business counseling, workshops, and resources to entrepreneurs and small business owners in a seven-county region in Northeast Missouri. Services are provided at no cost through support from the U.S. Small Business Administration and the Missouri SBDC network.

For more information, visit www.hredc.com or contact Maria Kuhns at director@hredc.com.

 

Media Contact:
Maria Kuhns
Executive Director
Hannibal Regional Economic Development Council
3817 McMasters Ave, Suite D
Hannibal, MO 63401
director@hredc.com | 573-221-1033