Montana Community Finance Corporation announces 504 loan activity
| October 11, 2007 |  View for printing |
Linda Kindrick, Executive Director for Montana Community Finance Corporation (MCFC) http://www.mtcommunityfinance.org of Helena announces MCFC obtained approval from the U.S. Small Business Administration (SBA) on 22 504 loans for $7,193,000 for the fiscal year 2007 (October 1, 2006 to September 30, 2007).
This represents 57% of the total 504 loan activity for the state of Montana. MCFC provides up to 40% of the financing needs for the business owner, with the other 50% coming from third party lenders and no less than 10% from the business owner. The third party lenders provided financing for $9.6 million for these projects, with a total project cost of $19.2 million.
Based on the information provided by the customers, these loans will create 156 new jobs. Counties served include Broadwater, Cascade, Fergus, Flathead, Gallatin, Lewis & Clark, Ravalli, Richland and Yellowstone.
Montana Community Finance Corporation is a Certified Development Corporation that originates and services loans for the SBA 504 Loan Program, located in Helena, Montana. MCFC has been serving Montana’s small businesses and lenders since 1984.
To find out more about Montana Community Finance Corporation, check out their website at http://www.mtcommunityfinance.org or call them at 1-866-443-3261, toll free.
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