Loan Programs
MAEDC offers multiple in-house lending programs to assist new and existing businesses in expansion and retention projects. Preference for MAEDC loan funds is given to those projects which create or retain quality jobs in the Missoula area. Economic development funds are matched with private investment dollars, forming partnerships with local banks. Gap financing is available, and MAEDC typically subordinates collateral position. Businesses interested in using economic development funds for an expansion or retention project are encouraged to contact MAEDC staff to discuss packaging options. Funding is available in Missoula, Ravalli, Mineral, Lake and Granite counties.
Eligible uses of MAEDC funds include:
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equipment purchase –
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real estate acquisition –
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end-loan buy-out on construction projects –
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working capital –
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environmental cleanup of Brownfield properties –
MAEDC loan terms vary, depending on use of funds. Interest rates are currently between 7% and 9%, barring exceptional circumstances, with rate reduction incentives for borrowers that participate in an ACH payment plan.
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