Areas Served: Lewis and Clark, Broadwater Counties
The City and County Loan Program is for business located within the City of Helena, Lewis and Clark or Broadwater County Use of Proceeds: – Machinery and equipment – Inventory – Working capital – Debt consolidation – Real Estate Maximum Loan Amount: Broadwater County businesses are limited to $50,000 per business.
City of Helena and Lewis and Clark County businesses to the amount available in each fund Rates Prime plus risk factors; risk factors based on credit, collateral coverage, financial position, personal investment, and management ability Rate is fixed for life of loan 2% closing fee plus all costs of filing and/or recording Terms All loans have a second or third year balloon payment.
Amortizations are as follows: 3 to 5 years for inventory, working capital or consolidation 5 to 7 years for machinery and equipment 15 to 20 years for real estate Collateral Requirements: Collateral coverage of 1.25:1 on a discounted basis for existing assets Purchase money security on assets acquired with loan proceeds Personal guaranty Other: Minimum 5% equity investment from borrower
Contact InformationMontana Business Assistance Connection
Address: 225 Cruse Avenue
City: Helena
State: Montana
Website:
http://www.mbac.biz/Loan_Programs.php
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