BOZEMAN, Mont., Dec. 14, 2022 – U.S. Department of Agriculture Rural Development in Montana State Director Kathleen Williams announced today that USDA awarded more than $7.4 million in loans and grants to five organizations to help create new and better market opportunities and expand essential services for rural and tribal people, businesses, and entrepreneurs in Montana.
“Local and small businesses are essential to Montana’s overall economy,” said Williams. “USDA Rural Development is committed to supporting our rural entrepreneurs with capital, technical assistance, and training to help sustain and build Montana’s rural and tribal economies.”
The funding will help keep resources and wealth made by rural people right at home through affordable financing and technical assistance. It will help rural Americans start businesses and allow small business owners to grow. It will also open the door to new economic opportunities for communities and people who historically have lacked access to critical resources and financing.
Silver Star Hot Springs, LLC received a loan of $6.9 million through the Business and Industry Loan Guarantees Program to purchase and develop vacant land into a year-round lodging operation in Silver Star, Montana. This investment will create a new business, 10 jobs, and bring economic development to a rural area.
Lake County Community Development Corporation received a $200,000 Rural Cooperative Development grant and a $56,042 Rural Microentrepreneur Assistance Program grant. These funds will support their mission to provide technical assistance, access to capital for new and expanding businesses, and training for cooperatives, micro entrepreneurs, and micro enterprises in rural areas of northwest Montana, the Flathead Indian Reservation and Lake County.
Montana Cooperative Development Center received a $200,000 Rural Cooperative Development grant supporting its mission to provide technical assistance for rural cooperatives in Montana’s 56 counties and eight Tribal Sovereign Nations. Together with its contracted network of economic developers, these funds will assist in improving economic conditions and supporting cooperatives and businesses statewide.
Montana Community Development Corp. received a $93,135 Rural Microentrepreneur Assistance Program grant to provide smaller grants for technical assistance and training to micro entrepreneurs and micro enterprises in rural areas of western Montana.
NACDC Financial Services, Inc. received a $66,122 Rural Microentrepreneur Assistance Program grant to provide annual grants for technical assistance and training to rural micro entrepreneurs and micro enterprises in Glacier County, Montana, and across seven Indian Reservations.
USDA Rural Development has six offices in Montana – Billings, Bozeman, Great Falls, Helena, Kalispell and Missoula. To learn more about investment resources for rural areas in Montana, call (406) 585-2530 or visit www.rd.usda.gov/mt.
Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety, and health care; and high-speed internet access in rural, tribal. and high-poverty areas. For more information, visit www.rd.usda.gov.
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USDA is an equal opportunity provider, employer, and lender.