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Dismal economic climate puts Montana Business Assistance Connection in red

November 16, 2011 /

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It’s been a tough year for businesses. It’s been just as tough for the Montana Business Assistance Connection http://www.mbac.biz/ , which makes loans to businesses to help boost the local economy.

The nonprofit economic development group will hold its annual board of directors meeting today and discuss how the organization has fared in 2011, though results will only be available for the first three fiscal quarters (through the end of September).

Director Terry Myhre said that so far the year has been a difficult one for MBAC, with fewer individuals applying for loans and those who have received them struggling to make payments. As a result, MBAC is currently operating in the red, and has been renegotiating loans and working with the businesses to secure payment.

By JEFF WINDMUELLER Independent Record

Full Story: http://helenair.com/news/local/e9507762-10e9-11e1-9a6c-001cc4c002e0.html

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