The Montana State Small Business Credit Initiative (MT SSBCI) assists new Montana businesses entering the market, as well as existing businesses that need additional borrowings to expand or stabilize their business.
We are pleased to announce that the MT SSBCI Program has allocated the full amount of funding to eligible applicants. The result of this is that we are no longer able to fund new applications.
Program Funding Recap
This federally funded loan participation program resulted in the following:
- Fifty loans totaling over $12.3 million
- Leverage of 8.4:1, totaling over $115.6 million in new funds invested in Montana
- Over 1,030 jobs created or retained as a result of the funding
Montana State Small Business Credit Initiative (MT SSBCI) funds assisted new Montana businesses entering the market and those existing businesses that needed additional borrowings to expand or stabilize their business. Lender loans eligible for MT SSBCI participation included, but were not limited to, real estate, equipment, working capital, and lines of credit within industries such as manufacturing, health care, retail, construction, and accommodation and food services.