Montana Department of Commerce Announces Millions in Federal Loans Available to Help Montana’s Small Businesses Expand, Create Jobs

The Montana Department of Commerce announced today the opening round of more than $60 million dollars in federal funds to assist small Montana businesses with expansion and job creation. The lending and financing funding is through Commerce’s Montana State Small Business Credit Initiative 2.0 Loan Participation Program (MT SSBCI 2.0 LPP), administered by Commerce’s Business MT Division.

SSBCI is a federal program administered by the U.S. Department of the Treasury that was created to strengthen state programs that support private financing to small businesses.

“The SSBCI program is designed to provide much-needed access to capital for traditionally underserved Montana small businesses who seek to grow and create jobs in their communities,” Montana Department of Commerce Director Scott Osterman said.  “Montana is a national leader for entrepreneurs to start and grow their companies.  This funding, in partnership with private institutions, provides essential capital to diverse and early stage entrepreneurs; we look forward to the impact this financing will have for companies and communities throughout Montana.”

Full Announcement