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Ravalli County, Montana microloan program helps businesses get off the ground

February 24, 2011 /

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The county microloan program has existed in Ravalli County for less than a year, but the positive impacts are already being felt.

"It is working," said Julie Foster, director of the Ravalli County Economic Development Authority http://www.rceda.org/ .

The microloan program awarded its first loan in May, that one to Florence-based BVS. Since then, the RCEDA has awarded three more. In total, the group has loaned $21,000 of the $100,000 available.

The program was started by the Ravalli County commissioners with $100,000 from their Payment in Lieu of Taxes fund.

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Anyone interested in a microloan or technical assistance for their business should contact the Ravalli County Economic Development Authority at 375-9416 or stop by the Ravalli Entrepreneurship Center, 274 Old Corvallis Road in Hamilton.

By WHITNEY BERMES – Ravalli Republic RavalliRepublic.com

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