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3 Montana Communities Receive $1.2 Million to Support Business Growth

Tuesday, March 19, 2019/Categories: Community Development Block Grant Program

Two Montana counties and one city will share $1.2 million through the Montana Department of Commerce’s Community Development Block Grant Economic Development Program (CDBG-ED) to assist local businesses and help them retain jobs. 

The following communities have received CDBG-ED funding:

  • City of Hardin: $400,000 grant to Big Horn County Memorial Hospital for the purchase of medical equipment. 
  • Lewis and Clark County: $400,000 loan to Hi-Country Snack Foods for working capital to purchase inventory. 
  • Stillwater County: $400,000 loan to Montana Silversmiths for equipment purchases.

“Projects such as these strengthen Montana’s economy and local businesses’ ability to create and retain permanent, good-paying jobs,” Department of Commerce Director Tara Rice said. 

Montana’s CDBG-ED program is designed to stimulate economic development activity by helping the private sector to create or retain jobs in high-needs communities. The federally-funded program can assist businesses by making fixed-rate financing available with low interest rates, and offers payment deferrals, lower payments in the first year and interest-only payments. 

For more information, visit our website at COMDEV.MT.GOV.


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