Financial Services
* SEMDC currently has access to Seven (7) different “participation financing” programs for the small
business community. SEMDC Loan Officer Amber Hert provides a funding link between the banking
and small business communities to make deals happen, thus creating economic activity in the private
sector. Since 2010, SEMDC has made direct loans of over $5.2 million while partnering with area
financial institutions. SEMDC continues to collaborate with regional banks rather than compete with them.
* SEMDC also has a Memorandum of Understanding (MOU) in place with the Eastern Plains Economic
Development Corporation (EPEDC). This mutually beneficial partnership allows SEMDC to provide
RLF administration and services to EPEDC and its service region of five (5) additional counties.
Loans for Startup or Expansion
Qualified applicants may borrow funds at a low fixed interest rate. The loan proceeds may be used for fixed assets. Credit decisions are based on a business plan that notes repayment ability, credit, and management capability. Because SEMDC works closely with each applicant, criteria such as collateral and credit history are evaluated individually. The terms and conditions of each loan depend on the applicant’s needs, business plan, and collateral’s useful life. Completed applications and business plans are submitted to the SEMDC Revolving Loan Fund Committee for evaluation and decision.
The Financing Program that works
with you . . . . for you . . . .
- To keep and create jobs
- To expand and diversify our economy
Revolving Loan Fund Programs 2024
The RLF program assists qualifying small businesses with low fixed interest rates and flexible payment options. Participation financing is needed at times when a conventional bank lender cannot loan the full amount needed or a proposed loan application doesn’t meet their underwriting requirements. This can happen because of insufficient collateral, equity or marginal credit. To secure the loan, the borrower must pledge available assets including personal guaranties of the principals.
1) CDBG: Regular Fund (3) CDBG’s
2) I.R.P.:Loan – USDA I MT BOI.
Participation Loans with Banks
Real Estate & Equipment
3) SSBCI: Participation Loans with Banks
Real Estate & Major Equipment
4)EDA: Participation Loans with Banks
Real Estate & Major Equipment
5) Big Sky Economic Development RLF (BSED): (New) Montana RLF Program
Participation Loans with Banks
Real Estate & Major Equipment
6) Brownfield Cleanup: Regional Program with SEMDC,
EPEDC and GNDC to EPA. (E. MT Brownfield Coalition)
7) Eastern Plains EDC :Administration / Servicing.
Partnership MOU in place with neighboring CRDC
SEMDC Assisted Successful Businesses!!
