Montana Community Finance Corporation elects board and officers
| April 28, 2008 |  View for printing |
At its recent 2008 annual meeting, Montana Community Finance Corporation http://www.mtcommunityfinance.org elected its 2008-2011 Board of Directors and Officers.
Martin Olsson, President of Eagle Bank of Polson was elected Chairman of the Board, while Tim Alzheimer, Adjunct Assistant Professor to Business, MSU of Bozeman, was elected Vice Chair. Other officers elected were Sherry O’Donnell, Montana Community Finance Corporation, Secretary and Linda Kindrick, Executive Director.
New directors are Fred Hashley, President of FJH Commercial Loan Link, Inc. of Great Falls, Barb Stiffarm, Development Director, Opportunity Link, Inc. of Havre and Greg Yockey, Vice President, Farmers State Bank of Hamilton.
Returning directors are:
Jim Davison, Executive Director, Anaconda Local Development Corporation, Anaconda
Sheila Hogan, Executive Director, Career Training Institute, Helena
Bill Paul, Vice President, Yellowstone Bank, Billings
Rosalie Sheehy Cates, Executive Director, Montana Community Development Corporation, Missoula
Outgoing board chair, Jim Davison, of Anaconda, MT was recognized for his commitment to the board and MCFC.
In 2007, MCFC received approval from the Small Business Administration on 18 loans for $6.7 million for projects located across the state, creating 143 new jobs. Montana Community Finance Corporation works in partnership with third party lenders, also from around the state, to provide this financing to eligible small businesses. These lenders contributed approximately $8.7 million in financing towards these same 18 projects. Taking into consideration the borrowers’ injection of $2.1 million, total project costs were $17.5 million.
The projects were located in the following counties: Lewis & Clark, Ravalli, Yellowstone, Gallatin, Flathead, Richland, Broadwater and Fergus.
MCFC also contributed funds totaling $16,880 to various economic activities and organizations around the state, including the small business development center network.
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. The 504 Loan Program provides long-term, fixed-rate, subordinate mortgage financing for acquisition and/or renovation of capital assets including land, buildings and equipment.
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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