Great Northern Development Corporation

Your compass to economic development in Northeast Montana

"It only takes one action to start a ripple effect." - Anonymous

Loan Programs

GNDC has several loan program opportunities available for area entrepreneurs and business owners. Whether you are starting a brand new business and need startup assistance or already have an established business and just need some additional funds to expand, GNDC may be able to provide you with the confidential assistance and gap financing that you need.  For additional information on how GNDC can assist you with your business endeavors contact:

GNDC Executive Director Tori Matejovsky at torimatejovsky@gmail.com  or

Loan Officer Kelcie Bates at loan@gndc.org  


GNDC'S CURRENTLY AVAILABLE LOAN PROGRAMS

USDA Rural Development

1.) Intermediary Relending Program (IRP)

$1,750,000 revolving loan fund for loans to small businesses. Both the intermediary relending organization and their loan applicant must be unable to obtain financing elsewhere at reasonable rates and terms. The maximum loan to a business is 75% of the project cost, or $250,000, whichever is less.

Loans can be utilized for the following purposes:

  • Establishment of new businesses or expansion of existing businesses
  • Creation of employment opportunities or preservation of existing jobs
  • Community development Projects
  • Business construction, conversion, enlargement, or development
  • Purchase of land, buildings, facilities, materials, equipment, and machinery

2.) Rural Microentrepreneur Assistance Program (RMAP)

RMAP funding may be used to provide fixed interest rate microloans to rural microentrepreneurs for startup and growing microenterprises. The purpose of the RMAP program is to support the development and ongoing success of rural microentrepreneurs and microenterprises. The maximum loan to a client is $50,000.


1.) Community Development Block Grant Revolving Loan Funds (RLF)

$2.1 million RLF to provide gap financing to startup or expanding businesses in GNDC's six-county region. Priority is given to private business projects, which will create or retain jobs for low to moderate income families. The maximum loan to a client is $200,000.

2.) Micro Business Finance Program

Montana-based businesses with 10 or fewer employees and gross annual revenue of less than  $1,000,000 can apply for a Micro Business loan up to $100,000 per client.


Montana Board of Investments

1.) Revolving Loan Fund

$250,000 RLF for loans to small business. Both the intermediary relending organization and their loan applicants must be unable to obtain financing elsewhere at reasonable rates and terms. BOI loans can be used for the same purposed as the IRP loan. The maximum loan to a client is $50,000.


1.) Brownfields Revolving Loan Fund

 $1.5 million hazardous substance and petroleum clean up RLF. Funds can be used for the remediation or cleanup of hazardous substance or petroleum.

You think you’re just a drop in the ocean...but look at the ripple effect one drop can make!
— Anonymous