Friday, February 10, 2012 1:10:52 PM
FOR IMMEDIATE RELEASE:
Friday, February 10, 2012
MicroBusiness Finance Program
Montana Department of Commerce
MicroBusiness Finance Program Expands to Great Falls & Kalispell
(HELENA) – The Montana Department of Commerce (MDOC) is now partnering with two economic development corporations to bring microbusiness loan financing to Great Falls and Kalispell.
The MDOC MicroBusiness Finance Program awarded $500,000 to the Great Falls Development Authority and $400,000 to Montana West Economic Development in Kalispell. The economic development corporations will use the funds to provide loans to local start-up and existing microbusinesses, with ten or fewer employees and gross annual revenues of less than $1 million. Eligible businesses may apply for loans up to $100,000. Loans may be used for working capital, start-up operating costs, and equipment.
The Great Falls Development Authority will serve businesses in Glacier, Toole, Pondera, Teton and Cascade counties. Montana West Economic Development will serve businesses in the Flathead and Lincoln counties. Microbusinesses interested in applying for a loan should contact their local development organization.
“MicroBusiness loans from the Montana Department of Commerce have created or retained nearly 2,250 jobs in Montana,” said Dore Schwinden. “They serve as a valuable resource for small employers state-wide.”
The MicroBusiness Finance Program was created in 1991 to provide capital for state certified MicroBusiness Development Corporations to loan to sound and feasible microbusiness across Montana. The MDOC partners with several economic development corporations to provide this service. A list of MDOC’s MicroBusiness Finance Regions can be found at http://businessresources.mt.gov/MBFP/micromap.mcpx.