Areas Served: Hill, Blaine, Liberty, Chouteau and Phillips Counties
Bear Paw Development Corporation provides loans to residents seeking to start or expand a business located within Hill, Blaine, Liberty, Chouteau and Phillips Counties in Montana.
Requirements:n¢ Fewer than 10 full-time employeesn¢ Less than $1,000,000 in gross annual salesn¢ The maximum loan amount is $100,000n¢ Loan term, which is based on the useful life of collateral offered as security, cannot exceed 10 years.
¢ Interest rate is set at prime plus up to 4%n¢ Loan funds may be used to finance business start-ups and expansions.
¢ Loans may be part of a larger business loan package.
Regional Revolving Loan Funds Bear Paw Development has created a revolving loan program established through community match funding as well as grant and loan funds from the U.S. Economic Development Administration, Montana Department of Commerce and USDA/Rural Development.
Qualification Requirements:n¢ The maximum loan amount is $250,000 or 75% of the project cost, whichever is lesser.
¢ Loan term is based on the useful life of collateral offered as securityn¢ Loan funds may be used to finance business start-ups and expansions.
¢ Loans may be part of a larger business loan package.
¢ Refinancing may be considered if it can be demonstrated that the loan funds will have a direct and positive impact on the business.
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Contact InformationBear Paw Development Corporation
Address: 48 Second Avenue
City: Havre
State: Montana
Website:
https://www.bearpaw.org/loan-department
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