Boulder businesses can apply for loans of $5,000 to $25,000 through a program of the $500,000 Boulder Development Fund that was created by legislation following the closure of the Montana Developmental Center.
The Boulder Revolving Loan Fund’s purpose “is to help stimulate economic development activity by assisting the private sector to attract new businesses, create or retain jobs, and provide access to capital for Boulder businesses,” according to a news release provided by Tom Harrington of the Jefferson Local Development Corporation.
“Higher amounts could be considered if a business request demonstrates a significant economic benefit to the City of Boulder,” the news release states.
Potentially eligible business activities include purchasing land, equipment or inventory, or rehabilitating or installing commercial or industrial buildings.
“Whenever possible, these funds are intended to complement conventional business financing techniques by leveraging funding from private lending institutions and other federal and state financing programs,” the news release states.
Applications will be handled first-come, first-served, with priority given to projects that aim to retain or create jobs, whether through a new business or expansion of an existing business.
Headwaters Resource Conservation District of Butte will help the City review loan applications and service loans, and can also help development the business plans needed to obtain financing.
For more information or an application, visit www.headwatersrcd.org/funding-and-financing or stop by Boulder City Hall.
