Montana Community Finance Corporation receives top honors for economic development excellence
| October 31, 2008 |  View for printing |
For the first two years she was in business, Bobbi Ecklund leased her building.
But this summer, with the help of a program offered by the U.S. Small Business Administration, Ecklund was able to purchase the former Pizza Hut restaurant that’s home to her Great Harvest Bakery franchise at Malfunction Junction.
Through the SBA’s “504” program, administered locally by the Montana Community Finance Corp. http://www.mtcommunityfinance.org/ , Ecklund was able to purchase the building with a smaller down payment, and nearly half her loan was at a lower fixed rate than would be available from a bank in a traditional loan.
“It’s the difference between being able to buy the building and not,” Ecklund said.
The 504 program helps small businesses of all kinds with building or large equipment purchases. MCFC was recognized Thursday for being the top 504 lender in the state, gaining approval for 21 loans for a total of $9.9 million across Montana. Banks provided an additional $12.8 million to those 21 borrowers.
By JOHN HARRINGTON - Independent Record
Full Story: http://helenair.com/articles/2008/10 ... 031_sba.txt
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