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Big Sky Finance – April 2020 Newsletter

Big Sky Finance
April 2020 Newsletter
Montana Small Businesses reorganize and innovate to help with shortages caused by the spread of novel coronavirus.
Big Sky Finance borrowers are rethinking what it means to be in business during the COVID-19 pandemic. From sanitizer to PPE, these companies are making an impact across Montana as we fight to keep our communities and families safe. You can read more about their stories below.
Trailhead Spirits – Billings
On March 20 the U.S. Food and Drug Administration waived its hand sanitizer formula registration process and gave the World Health Organization’s formula to distilleries that wanted to make the cleaner. Trailhead Spirits, joined the ranks of other distilleries nationwide helping fill the hand sanitizer shortage caused by the spread of COVID-19 by switching their production from alcohol to hand sanitizer.
Simms Fishing Products – Bozeman
Simms Fishing Products typically makes outdoor equipment at its Bozeman plant but is now producing medical gowns for Bozeman Health. Simms is one of several local businesses designing and manufacturing personal protective equipment in the face of a nationwide shortage stemming from the coronavirus pandemic.
West Paw – Bozeman
West Paw employees are transforming their workstations where they normally sew dog beds, into an assembly area for masks. Through trial and error, they have created a system that Bozeman Health has approved. West Paw has joined forces with other local groups in the effort to alleviate the shortage of medical supplies needed to fight the novel coronavirus.
Headframe Spirits – Butte
Headframe Spirits has batched over 100 gallons of FDA-approved hand sanitizer which has been delivered to critical groups, including first responders, medical facilities, nursing homes and government offices. Headframe Spirits has received beer donations from Philipsburg Brewing to distill into sanitizer, Southwest Montana Community Health provided glycerin and hydrogen peroxide, and Butte-Silver Bow donated sanitized buckets.
CARES Act – Did you know?
Under section 1112 of the CARES Act, the SBA will be providing debt relief to existing borrowers in the 7(a), 504, and Microloan Programs. SBA borrowers whose loans are in regular servicing will have their monthly payments made by the SBA for six months, from April through September! There is no action needed by the SBA 504 borrower.
Additionally, any loans funded on March 27, 2020 and through September 27, 2020, SBA will be making the loan payments for the 6-month period beginning with the first payment due on the covered loan.
This can be a huge benefit to small business owners looking to purchase or refinance their existing building.
Reach out to Brandon Berger or Jo Ann Jones to see if your project can benefit from the 504 program!
Your Big Sky Finance Team
Billings
222 North 32nd Street
Suite 200
Billings, MT 59101
406-869-8403
Helena
825 Great Northern Blvd
Suite 301
Helena, MT 59601
406-441-5447

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