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Montana Department of Commerce Launches the Opportunities in Rural Economies Program
Today, the Montana Department of Commerce launched the Opportunities in Rural Economies Program, a new initiative aimed at fostering economic growth, supporting business expansion and creating high-paying jobs in rural communities across the state.
The ORE Program consists of both loan and grant components:
- The ORE Loan Participation Program offers low-interest participation loans in partnership with participating lenders, and forgivable loans to accelerate business growth, encourage job creation and diversify Montana’s economy.
- The ORE Grant Program offers matching grant funds to support planning projects that deliver significant economic benefits to rural communities.
“By leveraging public-private partnerships, the ORE Program will strengthen Montana’s rural economy and enhance opportunities for future generations,” said Paul Green, director of the Montana Department of Commerce. “Businesses, lenders and economic development groups seeking to invest in Montana’s rural economy can benefit from this program.”
A total of $8 million will be available; $7.5 million for loans and $500,000 for grants. Loans and grants under the ORE Program may not be used for projects that relocate jobs within the state.
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