Montana CDC Reaching Out to Communities Around the State:

 
Montana Craftsman Turns Hobby into Livelihood with help of Montana CDC Loan 
May 9, 2012

A drive through East Missoula these days takes you past a veritable garden of silver vintage trailers.  But it's no junk yard.  It's the world headquarters of Mintage Airstream Trailers, a vintage trailer restoration business started by Rory Burmeister when the construction business fell flat.  Rory turned his passion for restoring classic Airstream trailers into a growing business that includes manufacturing of smaller vintage style trailers and high-end restoration of the old classic Airstreams.  With a  Montana CDC loan and targeted consulting help from the Small Business Development Center, Rory was able to improve his inventory procurement system allowing him to grow his company and create jobs for the community.
 

 More Jobs for Montanans as Montana CDC Receives $60 Million to Fund Business Start Ups and Expansions
February 23, 2012

The U.S. Treasury Department announced today an award of $60 million in New Markets Tax Credits to Montana CDC. This is the third award received by Montana CDC which now has received $156 million cumulatively. These tax credits are powerful in creating jobs. Montana CDC works with investors to turn the credits into cash and then uses that cash to fund business start ups and expansions in Montana. Three years ago Town and Country Foods in Bozeman received NMTC financing that allowed them to hire 75 new employees.

New SBA Product Spurs Business Growth
February 22, 2012

Montana CDC recently closed the first SBA 7(a) Community Advantage loan in Montana, helping a long-time Missoula business owner expand to a new location and create new jobs. A few weeks from now an industrial warehouse in Missoula, which has been completely transformed, will reopen as Bitterroot Gymnastics – providing children and families throughout our community with a safe space to learn and practice. Montana CDC is proud to be putting this new SBA financing tool to work for Montana businesses. We are the only Community Advantage lender in the state. The program is aimed at increasing access to capital in underserved areas and works well for many under-collateralized Montana business owners.

Grant from Create Jobs for USA Spurs Job Creation in Montana
January 11, 2012

Montana CDC has received a capital grant from the Create Jobs for USA Fund, a collaboration between Starbucks and Opportunity Finance Network (OFN).  The money will help Montana CDC create and sustain jobs in Montana as part of a national campaign to support community businesses in underserved communities.  The Create Jobs for USA Fund pools donations from Starbucks customers, partners/employees, and concerned citizens into a nationwide fund, held and managed by OFN, for community business lending. Donors who contribute $5 or more will receive a red, white, and blue wristband with the message “Indivisible.” The wristbands are individually handmade in the U.S.A. and all component materials are manufactured by U.S. suppliers, so the effort is also helping support American manufacturing jobs. 

Young Entrepreneurs Grow Niche Market with Montana CDC Loan
December 8, 2011

Ashot Oganesyan and wife, Michell Vang, are providing a niche market to the Missoula area. The young entrepreneurs started A Shot of International, LLCin December of 2010 and recently obtained a loan from Montana CDC to expand their international grocery store. Their store is the only place in Missoula that carries a variety of authentic food products imported from many countries around the world, specifically Russia, Europe and Asian countries. Ashot has taken advantage of Montana CDC’s ongoing technical assistance by working extensively with Montana CDC’s Accounting Advisor to get his businesses financials faultless as the word continues to spread on this niche market.

Libby Project Wins Top Award
October 27, 2011

Last week, Montana CDC's $17 million Stinger Welding expansion project in Libby, Montana received the top award for best use of New Markets Tax Credits among projects from across the country. The award was presented to Montana CDC by the Novogradac Community Development Foundation during its annual New Markets Tax Credit Conference in Chicago last week. Through collaboration and access to the latest financing tools, Montana entrepreneurs can do truly great things for themselves and their communities - truly, great, award-winning things.

New Tools for Montana Small Businesses
October 12, 2011

Montana CDC was recently approved as an SBA 7(a) Community Advantage guaranteed lender, allowing us to increase access to capital in underserved populations across Montana.  We were also included in a new U.S. Treasury Department program, which is a part of Senator Baucus' Small Business Jobs Act of 2010.  Montana CDC received $585,000 in loan funds under the program which will help leverage up to six times that amount in additional capital to lend out to small businesses across the state. With these new tools, Montana CDC can help more people build businesses and economic opportunities for themselves and their communities.

Native-Owned Business Expands with Loan Partnership
September 23, 2011

Montana CDC worked out a financing package for Plain Feather Construction, a commercial construction company in Billings, with the help of the Native American Development Corporation (NADC) in Billings. Through this loan partnership, Montana CDC and NADC created the perfect financing fit to help grow this Eastern Montana business, resulting in stabilization for a Native-owned company and three new jobs in a down economy. Montana CDC is excited for the opportunity to partner with local community development organizations such as NADC to deliver native borrowers the financing they need to grow their business and help drive their local economies.

Montana CDC is New Host to Kalispell PTAC
September 2, 2011

Previously hosted by the Kalispell Chamber of Commerce, the PTAC is now managed by Montana CDC, but will continue to be located in the Kalispell Chamber's Flathead Regional Business Center. Montana CDC also hosts the Missoula PTAC, which has proven to be a great complement to Montana CDC's business financing and consulting products, bringing additional resources to small businesses under one roof. Montana CDC looks forward to bringing this same combination of business resources to the Kalispell area, and to have Doug Bolender, Subcenter Director of the Kalispell PTAC, on the team.

U.S. Treasury Awards MCDC $1.5 Million to Lend Out to Small Businesses
August 8, 2011

Great news for Montana businesses! The U.S. Treasury Department recently announced that Montana CDC was one of several organizations nationwide to receive the top dollar award of $1.5 million to lend out to small businesses around the state. Using previous CDFI funding, Montana CDC has provided over 40 entrepreneurs throughout the state with loans to start or grow their small businesses. In Bozeman, Katherine Dayton used Montana CDC financing to purchase Visions Service Adventures, which allows high-school students to participate in community service in cross-cultural communities.

$17 Million Commercial Project for Libby, Montana
July 21, 2011

Montana CDC announced the closing of $17 million in financing to complete the construction of a new steel fabrication plant for Stinger Welding Inc. in Libby, Montana. U.S. Senator Max Baucus, Montana CDC, Stinger Welding Inc. and the Urban Investment Group at Goldman Sachs each played a critical role to complete the financing of the plant, which will create over 100 new jobs at Stinger’s plant, returning a major industrial employer to Libby.