SBA Awards $750,000 in Small Business Funds to Montana Community Development Corporation (MCDC)

MCDC http://www.mtcdc.org receives $750,000 in SBA http://www.sba.gov/about-offices-content/3/3126 microloan funding to lend out to small businesses across Montana.

This week brought good news for Montana entrepreneurs, as $750,000 in microloan funds was awarded to Montana Community Development Corporation (MCDC) http://www.mtcdc.org to lend out to small businesses across the state. The Small Business Administration (SBA) presented MCDC with $750,000 in loan funds to create business growth throughout Montana.

MCDC’s current SBA microloan program began in late 2009 with a similar $750,000 SBA award. The SBA Loan Fund is designed to assist local development organizations such as MCDC provide loans to qualified small businesses. Montana Senator Jon Tester has stressed the significant impact that the SBA microloan program brings to small businesses and their communities around the state, and has expressed his continued support for the program.

Montana-based small businesses may apply for a micro-loan of up to $50,000 through MCDC. The previous maximum SBA loan was $35,000. MCDC can match SBA loan funds with other loan programs and offers small business loans from $1,000-$1 million. MCDC’s loan program serves entrepreneurs who often do not qualify for a bank loan, and who also benefit from the free business advice from the business consultants in the Missoula and Bozeman offices. As a small business lender, MCDC specializes in partnering with local development organizations and banks. MCDC has used its previous SBA microloan funding to finance 35 small businesses across Montana, providing entrepreneurs with the business tools they need to weather the economic downturn and expand their services.

In Bozeman alone, a number of entrepreneurs have used MCDC’s previous SBA funding to build thriving businesses. Kristin and Ryan Wilson used SBA financing to build a second Rockford Coffee shop in the heart of downtown Bozeman. Their new store will open in July. New business owner, Katherine Dayton, received an SBA loan to purchase and expand teen community service programs at Visions Service Adventures, and continues to successfully run student programs all over the world. And John Bliese, of Sierra Lifestyles, used an MCDC loan to launch his cabinet hardware business, that supplies custom made cabinet and drawer pulls to wholesalers like Lowes.
Farther east, the family owned Comtech Audio, Theatre, Security in Billings used SBA funding to build a showroom and warehouse, allowing them to weather the economic downturn and expand their business. And Alyson and Raymond Ragsdale of Hoofers Deli and Hogwash Laundry used an SBA loan to finance their restaurant expansion on the main stretch through the small town of Broadus.

These are only a few businesses out of the many entrepreneurs that have been able to obtain the financing and assistance they needed to create thriving businesses. MCDC is the only provider of SBA micro funds and is eager to get this funding out the door and into the hands of small businesses that need the extra help to start or grow their business. 

For additional information on the $750,000 SBA Award to MCDC contact:

Lynn Dankowski

MCDC Marketing Manager

[email protected]

406-728-9234 #21

Dave Glaser

MCDC President

[email protected]

406-728-9234 #211