MicroBusiness Finance Program
MicroBusiness Finance Program supports Montana development corporations in providing loans, training, and technical assistance to microbusinesses, helping finance their work and support employment.
Funder: Montana Department of Commerce
Due Dates: July 1, 2024 (Recertification application opened)
Funding Amounts: Loans up to $100,000 for qualified microbusinesses through certified MBDCs; four-year MBDC certification
Summary: The program funds certified MicroBusiness Development Corporations to provide loans, training, and technical assistance to Montana microbusinesses.
Key Information: This application is for MBDC recertification, not a direct business loan application.
Description
The MicroBusiness Finance Program, administered by the Montana Department of Commerce, provides funding to certified MicroBusiness Development Corporations (MBDCs) in Montana. These corporations lend to qualifying Montana-based businesses, deliver training and technical assistance, and underwrite and service their microloan portfolios. The businesses they serve have fewer than 10 full-time equivalent employees and gross annual revenues under $1 million.
This opportunity is the recertification application for MBDCs, rather than the application businesses use to obtain loans. Commerce certifies MBDCs for four-year periods. Businesses seeking financing apply through a certified MBDC, while nonprofit corporations interested in becoming certified should contact program staff. The program operates under the Microbusiness Development Act and Montana’s administrative rules for MBDC certification and microbusiness financing.
