Finance Assistance Resources
Business Planning and Feasibility
Big Sky Economic Development Trust Fund (BSTF)
The Big Sky Economic Development Trust Fund (BSTF) program provides state funds to aid in business development as well as economic development planning.
Applications that support a critical activity to move an economic development project forward and directly assist a basic sector company are the highest priority of the Department of Commerce. Local economic development organizations apply on behalf of the business.
Planning projects funding can also be used to support other economic development planning activities, such as the creation and maintenance of community profiles or support for business improvement districts.
Due to statutory limitations on how we are required to split job creation and planning grants, Commerce will not accept BSTF Planning applications until July 1, 2020.
Job Creation
Big Sky Economic Development Trust Fund (BSTF)
The Big Sky Economic Development Trust Fund (BSTF) program provides state funds to assist eligible businesses that are expanding their company.
The Job Creation awards reimburse the businesses for eligible expansion expenses and the awards are based on the number of BSTF eligible net new jobs created. Local or tribal governments apply on behalf of the assisted business.
The BSTF program promotes long-term stable economic growth in Montana through Job Creation awards.
The Big Sky Economic Development Trust Fund program will be accepting job creation applications on a quarterly basis. Those application due dates are: July 10, 2018, October 3, 2018, December 19, 2018, and April 3, 2019.
Montana Wood Products Revolving Loan Fund (WP RLF)
The Montana Wood Products Revolving Loan Fund (WP RLF) Program assists businesses in the wood products industry affected by the downturn in the economy. The program provides a long-term affordable lending tool to assist businesses in retaining or creating jobs providing a long term economic benefit to the State of Montana.
Workforce Training
Primary Sector Workforce Training Grant (WTG) Program
The WTG Program provides grant assistance to primary sector businesses that are creating new jobs and have a need to train the new employees.
The primary sector business could receive a grant up to $5,000 for a full-time job and $2,500 for a part-time job. All necessary and direct costs of providing workforce training for new jobs are an eligible use of the funds. Primary sector businesses are defined as those having 50% or more of their sales outside Montana.
The primary goal of the WTG Program is to increase year-round and permanent job opportunities.
Applications for funding are accepted on an open-cycle basis.
Big Sky Economic Development Trust Fund (BSTF) Program
The BSTF Program provides grant to assist companies creating net new jobs with job training costs. Businesses may apply for up to $5,000 per new qualifying employee for eligible costs associated with training, or up to $7,500 per net new employee in a high poverty area.
Applications are accepted on an open-cycle basis.
Economic Development Revolving Loan Funds
MicroBusiness Finance Program (MBFP)
The MBFP administers funding for the MicroBusiness Development Corporations (MBDCs) located across Montana. MBDCs work with Montana-based businesses with fewer than 10 full-time equivalent employees and gross annual revenues of less than $1,000,000. Certified MBDCs:
- Provide loans up to $100,000 to qualified microbusinesses;
- Provide training and technical assistance to qualified microbusinesses;
- Underwrite and service their microloan portfolios.
Montana Wood Products Revolving Loan Fund Program (WP RLF)
The WP RLF Program assists businesses in the wood products industry affected by the downturn in the economy. The program provides a long-term affordable lending tool to assist businesses in retaining or creating jobs providing a long term economic benefit to the State of Montana.
Research and Development
Montana SBIR/STTR Matching Funds Program
The SBIR/STTR Matching Funds Program assists technology-based Montana companies by providing additional funding that can be used for technology development or other uses during the time that the company is working on a Small Business Innovation Research or Small Business Technology Transfer (SBIR/STTR) project with a federal agency. This additional funding increases the likelihood that technology-based Montana companies will be able to develop products and services that can be successfully marketed. Grants of up to $30,000 are available on a yearly basis.
Wood Products
Montana Wood Products Revolving Loan Fund (WP RLF)
The Montana Wood Products Revolving Loan Fund (WP RLF) Program assists businesses in the wood products industry affected by the downturn in the economy. The program provides a long-term affordable lending tool to assist businesses in retaining or creating jobs providing a long term economic benefit to the State of Montana.
Regional Economic Development
Certified Regional Development Corporations (CRDC)
The Certified Regional Development Corporations (CRDC) program supports a regional approach to economic development, facilitating an efficient delivery of economic development programs by supporting regional capacity.
The CRDC program supports each of the CRDCs with annual funding for economic development services supporting their region, including personnel and operating expenses, and any other expenses deemed necessary to maintain the organization’s certification as a CRDC.
A CRDC must be a private, non-profit corporation, and apply for certification through a competitive state Request for Proposal (RFP) process.