Areas Served: Lake, Lincoln, Sanders and Flathead counties
A number of business development loan programs to stimulate economic development activity by assisting the private sector to create or retain jobs are available.
Montana West Economic Development has several loan programs to offer to new and expanding businesses in the form of gap financing in partnership with local lending institutions.
These loans are available to small businesses in Lake, Lincoln, Sanders and Flathead counties in northwest Montana.
The loan dollars are eligible to be used for a variety property and equipment investment, infrastructure and technical assistance.
The interest rate and requirements for these loans vary by project with a fixed interest rate in the 3%-7% range.
Loan sources include Community Development Block Grant, Intermediary Relending Program and Montana West Economic Development’s Revolving Loan Fund.
The Big Sky Economic Development Trust Fund (BSTF) program is a state-funded program.
¢ Up to $5,000 may be awarded to an eligible project for each new eligible job to be created.
¢ Funds may be used as a loan or grant for the purchase of machinery, equipment and/or working capital.
¢ Eligible jobs must be new positions that average 35 hours/ week on an annual basis and pay at or above average county wages, not including benefits.
Flathead County’s average wage for 2010 is $15.45.
¢ Statutory requirements for these funds include net new, full-time job creation and a $1 for $1 match requirement.
¢ Contact MWED to discuss the application process.
Contact InformationMontana West Economic Development
Address: 314 Main St
City: Kalispell
State: Montana
Website:
http://dobusinessinmontana.com/taxes-incentives/incentives/#Loan Programs
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