Montana CDC Receives Grant from Starbucks and Opportunity Finance Network’s "Create Jobs for USA" Initiative

Local CDFI to Help Spur Job Creation in the US

Montana CDC
http://www.mtcdc.org , a local community lender, announced today that it 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.

Montana CDC is one of the top-tier community development financial institutions (CDFIs) in the nation to be awarded a grant from the fund since the program began allocating awards in November of 2011. 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.

Since November 1 The Create Jobs for USA Fund has been collecting donations at http://www.CreateJobsforUSA.org and at nearly 7,000 company-operated Starbucks across the country. 100% of the donations will support organizations like Montana CDC lending for job creation and retention across the US.

"Create Jobs for USA is making it possible for Americans who have $5 to share help people who don’t have $5 to spare by creating and retaining jobs in their communities," explained Mark Pinsky, President and CEO of OFN. "Montana CDC received this grant because it has demonstrated that it will provide financing that is good for community businesses and good for communities."

"We’re pleased that Starbucks recognizes the important work that CDFIs are doing, and honored that the Create Jobs for USA Fund has made a grant to us," said Dave Glaser, president at Montana CDC. "Create Jobs for USA is unprecedented for the CDFI industry. It is shining a national spotlight on our work and will help Montana CDC to create and sustain jobs in Montana."

CDFIs provide financing to community businesses in underserved markets where would-be community business owners may not qualify for credit from traditional lending institutions. Community businesses include small businesses, microenterprises, nonprofit organizations, commercial real estate developers, and affordable housing developers. All of these community businesses help to create and sustain local jobs.

Community business owners who would like to apply for a loan from Montana CDC can get more information at http://www.mtcdc.org or, to find other CDFIs, visit http://opportunityfinance.net/findacdfi.

Montana CDC’s mission is to provide business financing that can transform the lives of individuals and strengthen community prosperity.

For more information about Montana CDC please contact Marketing Manager, Julie Ehlers at 406-728-9234.

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About Montana CDC

Montana Community Development Corporation (Montana CDC) provides business financing that can transform the lives of individuals and strengthen community prosperity. Since 1986, MCDC has served thousands of entrepreneurs with loans, consulting and training. Montana CDC has lent more than $25 million to over 400 businesses, and has now funded $64.5 million in New Markets Tax Credits projects in low-income areas of Montana. With its financing and consulting tools, Montana CDC helps business owners grow their companies, sustain their local communities and provide jobs throughout Montana.

About Opportunity Finance Network

Opportunity Finance Network (OFN) is the national network of Community Development Financial Institutions (CDFIs)–private financial institutions that are 100 percent dedicated to delivering responsible, affordable lending to help low‐income, low‐wealth, and other disadvantaged people and communities join the economic mainstream. CDFIs in the OFN network serve all 50 states, and OFN Member CDFIs originated more than $23.2 billion in financing in urban, rural, and Native communities through 2009. More information is available at: http://www.opportunityfinance.net

About Create Jobs for USA

Starbucks and Opportunity Finance Network have joined forces to help create and sustain jobs in communities across the country. Create Jobs for USA is a bold initiative to spark new financing to community businesses so they can hire and preserve jobs. Learn more or donate now at: http://www.createjobsforusa.org

Julie Ehlers

Marketing Manager

Montana CDC

110 E Broadway, Second Floor

Missoula, MT 59802

406.728.9234 ext 225

406.542.6671 fax

http://www.mtcdc.org

When Businesses Grow, Communities Prosper