Montana Commerce Department Sends $123.4 Million to Over 8,200 Small Businesses

The Montana Department of Commerce announced Friday that more than 8,200 small businesses in Montana have now received $123.4 million through Governor Steve Bullock’s Business Stabilization Program, funded by the Coronavirus Relief Fund.

First launched in May, small businesses based in Montana with fewer than 50 employees that have experienced a loss in revenue due to the pandemic were eligible for grants of up to $10,000 or three-months of working capital, whichever was less. Governor Bullock announced last week that the program would expand to provide a second grant to all 8,237 businesses that received the first as long as they still met eligibility requirements. As of Friday, nearly 6,000 of those businesses have already requested their second award and have received payment.