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Great Falls Development Authority Wins Community Development Financial Institution (CDFI) $1,280,000 Loan Capital Grant

Great Falls Development Association

I’m excited to let you know that the Community Development Financial Institution (CDFI) Fund of the U.S. Treasury today announced an award of $1,280,000 in grant funds to the Great Falls Development Authority for loan capital!

This will help us continue to fill financing gaps and provide bridge loans for start-up entrepreneurs, existing businesses, nonprofits and real estate developers in Great Falls and throughout Montana’s Golden Triangle region. The award comes from the CDFI Fund’s one-time Rapid Response Program which Congress created in December.

We have closed a record $9,172,170 in loans since January 1st and have several million in immediate new loan requests to fill gaps to get projects into construction, so this new capital infusion comes at a critical time.

 

Brett

 

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