Big Sky Cheese defaults on loan but GFDA is working to help find a solution

Madison Food Park has been trying to secure funding for a plot east of Great Falls for the past couple of years. The proposed plots are for ‘Big Sky Cheese’ and ’Silver Falls Distillery’. Both developments have secured bridge loans from the Great Falls Development Authority, but building has yet to commence.

Now, due to post-pandemic complication, Big Sky Cheese has run into some financial trouble. The developer defaulted on their now-expired loans. Interest on their loans hasn’t been paid by Big Sky Cheese over the last fiscal year, totaling nearly $2 million in unpaid loans.

“Since the pandemic has wound down, they haven’t been able to put together the money to keep our loans current. But also the loans have expired because our bridge loans are short term,” says GFDA president Brett Doney.