Billings 
Program Overview
The ORE Program suite has two components: participation loans, including low-interest loans and forgivable loans, and grants.
- The Opportunities in Rural Economies Loan Participation Program is designed to accelerate the growth of new business opportunities, encourage the creation of high-paying jobs and diversify the state’s economy by providing low interest participation loans with a participating lender and/or forgivable loans.
ORE Program loans and grants may not be used for a project that would result in the transfer or relocation of jobs from one part of the state to another part of the state. See Sections 90-1-203(1), MCA.
The Montana Department of Commerce has created the ORE LPP, the ORE EDO CBG and the ORE GP. The ORE Program suite exists within the Big Sky Economic Development Program authorized by Sections 90-1-201, MCA, et seq.
Purpose
The purpose of the ORE LPP and ORE GP is to assist in economic development for Montana that will:
- Create good-paying jobs for Montana residents.
- Promote long-term, stable economic growth in Montana.
- Retain or expand existing businesses.
- Provide a better life for future generations through greater economic growth and prosperity in Montana.
- Encourage workforce development.
Registration Requirement – OKTA
OKTA account registration is required to access the applications for the ORE Program Suite.
Eligible borrowers will work with either an enrolled EDO or participating lender to complete a qualification checklist to determine if borrower is ready to move forward with the project. If the borrower decides to proceed, an enrolled EDO initiates the preliminary application process. Once the preliminary application is submitted, the loan review committee will review the applications for eligibility and suitability with state and program requirements. The committee may request additional information or approve or reject the application. Receipt of an application does not imply a commitment for funding. Once a preliminary application has been approved, the borrower and enrolled EDO will work with a participating lender to complete a comprehensive application. The loan review committee will review the comprehensive application and a final determination for funding will be made.
EDOs wishing to enroll in the ORE LPP must do so online through the ServiceNow enrollment application.
Lenders wishing to participate must execute a General Lender Loan Servicing Agreement with the same PDF as the previous request.
External Partner Organizations and enrolled EDOs can find the Preliminary Application in the ServiceNow portal.
External Partner Organizations and enrolled EDOs can find the Comprehensive Application in the ServiceNow portal.
| Total ORE LPP Funding: | $8,000,000 |
| Total Funds Obligated: | $8,000,000 |
| Total Funding Available: | $0 |
