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GFDA Top 10 for 7-23-23

July 24, 2023 /

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Dorsey & Whitney - An International business law firm, applying a business perspective to clients' needs in Missoula, Montana and beyond.

Montana’s first medical students have arrived in Great Falls! Our team has been working with Touro College of Osteopathic Medicine, Benefis Health System and many local businesses to put together a great welcome for the first class of medical students. We will be sending a separate thank you to all the generous partners who have contributed to the success of this warm welcome. The response this week has been amazing!

1) Our loan committee approved two bridge loans totaling $620,000 to support two much-needed developments of affordable and workforce housing in Great Falls. We continue to work with developers on apartment construction, but are also searching for developers to undertake major homeownership construction. Contact Jake at 1-406-403-4937 or [email protected].

2) To address local housing needs and support business startups and expansions, we have issued pending bridge and gap loan commitments totaling $10,322,175 and have an additional $2.5 million in underwriting. These loans will leverage tens of millions of investment in our region. To keep the momentum going, we need more loan capital. We are seeking sources to borrow more capital. Contact me, Brett Doney at 1-406-750-2119 or [email protected] if you know of a potential source.

3) Luckily we have unlimited capacity to underwrite SBA 504 loans throughout Montana. To offer the best service to Montana banks and businesses, we have put together a virtual SBA 504 underwriting and loan closing team that has closed hundreds of 504 loans. Try us out! Contact Tony at 1-406-750-2099 or [email protected].

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