GFDA has loan capital available
GREAT FALLS DEVELOPMENT AUTHORITY HAS $600,000 CAPITAL AVAILABLE
GREAT FALLS, MT – Sept 17, 2009 – Great Falls Development Authority (GFDA) now has capital from its Economic Development Administration Revolving Loan Fund to lend to new and expanding businesses in Cascade, Pondera, Toole, and Teton Counties. The funds can be used for real estate, facilities and improvements, machinery and equipment, refinancing, and working capital. We are looking for projects that will have economic impact via the creation or retention of jobs - preferably higher paying jobs with benefits. We prefer that our participation in projects meet these criteria:
- 1 job be created or retained for each $50,000 loaned
- Priority will be given to applicants who provide full time, permanent jobs that pay equal to or more than the average wage of the County in which the jobs are created or retained.
- $2.00 be leveraged via private sector debt and equity per $1.00 loaned
- We prefer to loan in conjunction with a bank
To learn more about these funds, eligibility, and application, contact Mary Ann Kovacich at Great Falls Development Authority, 406.771.9026. GFDA is a local non-profit organization whose primary role is to enhance and stimulate economic growth in Great Falls and the Golden Triangle of Montana.
