Walsh sponsors bill to strengthen Montana’s small businesses

Senator John Walsh cosponsored the Small Business Access to Capital Act to increase financing opportunities for Montana’s small businesses.

After hosting small business listening sessions in Billings, Butte, and Missoula, Walsh signed onto the Small Business Access to Capital Act to address the difficulties of accessing capital that small businesses are facing throughout Montana. The act provides funding available for small businesses through grants and loans.

"Creating access to capital for our small businesses allows them to grow and hire more employees on Main Street throughout Montana," Walsh said. "Entrepreneurs with smart ideas and good products shouldn’t be held back because of a lack of access to capital."

"The State Small Business Credit Initiative is a vital financial tool for Montana small businesses, and our organization is grateful for Senator Walsh’s support of the program," said Dave Glaser, President of the Montana Community Development Corporation. "It provides access to capital for small business in Montana, a critical piece in job creation and strong economies. We’ve used SSBCI to open the doors of opportunity for businesses across the state and look forward to doing more."

The funding for the loans will be provided through the State Small Business Credit Initiative, which has loaned $12.3 billion across the country since 2010. In Montana, 82% of Small Business Credit Initiative funding has been awarded to businesses with fewer than 10 employees, creating 868 jobs in Montana.