Access to Finance for Small Businesses in Montana: 2nd report just released

Part Two of “Access to Finance for Small Businesses in Montana” Report Released

Accelerate Montana, Catalyze Global Impact LLC, and the Women’s Entrepreneurship & Leadership Lab are thrilled to announce the completion of Part Two of the comprehensive report on “Access to Finance for Small Businesses in Montana.”

This report delves into the intricate landscape of small business financing in Montana, offering timely insights into the diverse needs and realities of the state’s small businesses. As Montana’s small business sector drives employment, economic growth, and community development, understanding and addressing the obstacles they face in accessing finance is imperative.

In the wake of unprecedented economic shifts and challenges, now is the time for policymakers, lenders, investors, and economic development organizations to come together to explore innovative solutions and ensure equitable access to capital for all businesses across the state.

This report serves as a vital resource for policymakers, lenders, investors, and economic development organizations, offering actionable recommendations to address existing gaps and enhance access to finance for small businesses. By harnessing the insights gleaned from this comprehensive study, stakeholders have a unique opportunity to drive positive change, foster inclusive economic growth, and unlock Montana’s full economic potential.

Part Two of the report offers a comprehensive analysis of various aspects of small business financing in Montana, including:

• Business demographics and characteristics
• Challenges faced by businesses in accessing finance
• Sources of funding and financing patterns
• Disparities in access to finance based on demographics and geography
• Market bottlenecks and liquidity challenges
• Recommendations for policymakers, lenders, investors, and economic development organizations

Based on the findings of the study, several recommendations have been proposed to address the existing challenges and enhance access to finance for small businesses in Montana. These recommendations include:

• Expanding information and training for lenders and investors
• Increasing awareness of training, technical assistance, and financing opportunities for small businesses
• Deepening the capacity of funders working at the community level
• Exploring shared services for lenders and investors
• Scaling up existing successful programs
• Exploring new linkages between public and private funding
• Expanding smart subsidies and policy incentives to address real and perceived risks in small business finance

We invite all stakeholders to join us in elevating this important research and collaborating on solutions to empower Montana’s small businesses. Visit the AMRII website to read the full report and learn more about how you can get involved.

For media inquiries, please contact Karl Unterschuetz at [email protected].

On behalf of the entire project team, we are excited to share that Part 2 – A Survey of Businesses final report is available for download.

Accelerate Montana, Catalyze Global Impact LLC, and the Women’s Entrepreneurship & Leadership Lab launched an initiative on Access to Finance for Small Businesses in Montana in 2022. This initiative aims to better understand who provides small business finance, which businesses receive what type and volume of financing, what are the financing needs expressed by businesses, and how to ease market bottlenecks in the flow of small business finance across Montana. To achieve this goal, the project team, guided by a deeply experienced advisory committee from across Montana, designed and implemented a quantitative survey and qualitative interviews in 2022-23 of lenders, investors, state and federal agencies, and foundations that fund Montana’s small businesses.

Questions: Please contact [email protected]