Areas Served: Butte, Montana
The Butte Local Development Corporation offers several loan programs for businesses in Butte, Montana.
(EDA) Revolving Loan Fund The BLDC’s Revolving Loan Fund program funded by the US Department of Commerce Economic Development Administration is designed to assist economically distressed areas in the creation and retention of jobs.
The BLDC receives the original grant, which we in turn loan to businesses wishing to locate or expand in the Butte-Silver Bow area.
The objective of the BLDC EDA revolving loan fund is: to develop and commercialize value added products, to assist small manufacturing firms to incorporate new production technologies and develop new and expanding markets, to close the gap for capital deficient projects, and the assist manufacturing business in the silicon/ semi-conductor industry.
In short, it may be able to help with your needs, assuming job creation or retention are a result of your business project.
Intermediary Relending Program (IRP) Loan Funds The purpose of the US Department of Agriculture Rural Development Intermediary Relending Program (IRP) is to finance business facilities and community development projects in rural areas.
To be eligible for assistance, loan applicants must be unable to obtain financing elsewhere at reasonable rates and terms.
Loans of up to $150,000 are available to private or public organizations and other local businesses for the following purposes: establishment of new businesses or expansion of existing businesses; creation of employment opportunities or preservation of existing jobs; community development projects; business construction, conversion, enlargement, or development; purchase of land, buildings, facilities, materials, equipment, and machinery; transportation services; feasibility studies; hotels, motels; and professional fees.
CDBG Loan Fund The federally-funded CDBG program awards funds to Montana to grant to non-metropolitan communities for lending by the local government or local development organizations like the BLDC to private business projects, which will create or retain jobs for low to moderate income families.
Loan repayments are then re-loaned for further economic development in the area.
The CDBG program is probably the most flexible federal funding available to cities and states and can be used to fund a wide variety of projects including job creation, business loans, and entrepreneurial training.
A CDBG activity benefits lower-income people if at least 51% of the resulting full time jobs are either filled by or available to lower-income people.
Contact InformationButte Local Development Corporation
Address: 480 East Park St
City: Butte
State: Montana
Website:
http://www.bldc.net/business-services/incentives-financing/local/
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