Small Business Development Center

Information may not be reliable

MCDCs new president, Dave Glaser, has taken over the reins at MCDC. Glasers plan is to move MCDC forward by expanding its accessibility and its financing products, as well as its involvement with lending and economic development partners across the state. Dave takes over for Rosalie Sheehy Cates who served MCDC andsmall business owners of Montana forover two decades. Read about Dave stepping up as MCDCs new president and Rosalie Cates moving on from MCDC in InBusinessMonthly.
MCDC Wins National Award for Helena ProjectOctober 15, 2010
The Novogradac Community Development Foundation (NCDF) presented MCDC with Honorable Mention for its excellent work and achievement in securing financing for the Peak Health & Fitness project in Helena. Novogradac is a nationally certified accounting and consulting firm that works extensively in the affordable housing, community development and renewable energy fields. The award accredits excellence in community development entities, such as MCDC, that have made exceptional low-income community investments with their New Markets Tax Credit allocations. The $9.4 million Peak Health investment project is being recognized for its commitment to establish positive economic growth in an underserved area of rural Montana.
MCDC works with NorthWestern Energy to make Biomass Energy a Priority for MontanaOctober 1, 2010
MCDC's Craig Rawlings recently presented a Biomass Energy Feasibility Study at theMontana Wood Producers Association in Whitefish that lays the groundwork for biomass energy production in Montana. MCDC and NorthWestern Energy co-sponsored the studywhich concludes that with appropriate funding, biomass generation, or burning wood to produce electricity, can serve Montana as a viable renewable energy source. The study is good news for the woods product industry and provides a promising option to bring a formerpaper mill back to life. NorthWestern Energy is currently attempting to purchase theSmurfitt-Stone Corp. mill near Frenchtown, with the intention of converting it to Montanas first ever biomass plant. Read more about NorthWestern Energy's plan for Smurfit in the Daily Inter Lake.
MCDC Jumpstarts New Commercial Projects in MontanaSeptember 15, 2010
Butte, Bozeman, Helena and Missoula are all reaping the benefits of the $40 million dollars in federal New Markets Tax Credits awarded to MCDC 18 months ago.The Historic Sears Building in Uptown Butte is being restored, vacant buildings are undergoing major renovations in Helena and Bozeman, and a new six-story retail and office building is going up in downtown Missoula. All this activity translates into approximately 500 immediate construction jobs and 418 permanent jobs, equaling a total of over $22 million in wages over a ten-year period.
MCDC's Small Business Lending Grows with $750,000 GrantSeptember 1, 2010
The U.S. Treasury Department announced on August 19th a $750,000 grant to MCDC for statewide business loans. This financing will help MCDC support more local entrepreneurs and small businesses throughout Montana, and spur local economic growth and recovery by expanding access to capital and affordable financial services in underserved areas. All Green Services, located on the Flathead Indian Reservation in Polson, is one of many MCDC loan clients that have been given access to affordable financing.
MCDC Loan Helps Dedicated Bozeman Business Owner Sustain Quality JobsAugust 25, 2010
Jeff Pfeil, owner of Bozeman Tree, Lawn & Landscape Care, weathered the economic downturn with an MCDC loan, keeping 23 quality jobs in a rural area of Montana. Pfeil came to MCDC for assistance after he was unable to obtain permanent financing for the expansion of a new facility for his fast growing business. MCDC recognized the contributions Pfeil and his company made to the Bozeman community and found a way to help. With our statewide footprint, MCDC is increasingly able to identify and support those business owners who make a difference in their communities.
Bozeman Cheese ManufacturerOpen its Doorswith an MCDC Rural LoanJuly 30, 2010
Darryl and Dwayne Heap of Bozeman recently jumpstarted production at their artisan cheese factory, Vintage Cheese, with the help of a MCDC rural loan. Their manufacturing company offers locally produced cheeses made with milk from local dairies, including Huls Dairy, anotherMCDC client. Small scale producers like the Heap brothers diversify and strengthen the states agriculture industry, and link small businesses together with the use of each other's products and services.
MCDC Supported Businesses Win Best of Missoula AwardsJuly 19, 2010
Women owned businesses rocked this years Best of Missoula Awards, with Downtown Dance collective, Blackbird Kid Shop and Bettys Divine being a few of the winners. MCDC has provided consulting to the owners of these wonderfully hip stores, as well as the financing for Blackbird Kid Shop, Bettys Divine and Riverside Pawn, who was a finalist in the Best Pawn Shop Award. These businesses exemplify MCDC's mission to help local businesses grow andbecome an important part of their community.Congratulations to all the businesses in the Best of Missoula Awards!
Dream Business Becomes Reality for Helena Entrepreneur June 29, 2010

Ben Palmer has turned his long time passion into a business with assistance from the Montana Business Assistance Connection (MBAC) in Helena and an MCDC loan. The Hobby Garage, a specialty hobby store, is located on one of the busiest stretches in Helena and since its recent June 1st opening, has received a flow of traffic from remote-controlled enthusiasts and attention from local Helena media as well. Read more about Palmers new business in the Helenair.
Peak Health Project to Revitalize Helena NeighborhoodJune 22, 2010

The Peak Health project is turning a vacant building in Helena, Montana into a local fitness and rehabilitation facility. The project, whose funding came from Valley Bank of Helena and federal tax credit financing through MCDC, is the first step in turning the empty structure into a thriving commercial center.

MCDC Recieves $750,000 for Rural Business Lending June 7, 2010
USDA announced on June 3, 2010, $750,000 in financing to MCDC to lend out to rural businesses, creating jobs and expanding access to capital. The funding allows MCDC to do more rural lending in Western Montana, including Great Falls and the entire Flathead Valley.The USDA rural business lending program helps MCDCprovide loans to Montanabusiness owners, such as John and Barb Mosher, who were able to grow their gas and convenience store into an economic hub in the small town of Thompson Falls.
Captain Hook's Ice Cream Sets Sail for the Summer

Nate and Shannon McEwen of Missoula used an MCDC microloan to help purchase their new ice cream truck. They are launching their season with neighborhood tours Mondays Saturdays and event appearances on Sundays. With its SBA microloan financing program, MCDC creates economic opportunities for first-time business owners like Nate and Shannon, allowing them to make their community a sweeter place to live. Read more in the Missoulian.
MCDC Client Goomzee Secures $1.5 Million in Investor Funding

MCDC client Goomzee, a Missoula based mobile marketing firm, announced that it has secured $1.5 million in venture capital to expand its growing enterprise. MCDC provided consulting and early stage financing to Goomzee to help establish its product in the emerging mobile marketing industry. By partnering with business innovators like Goomzee, MCDC helps toredraw the lines of industry in Montana.
MCDC Recognized by U.S. Treasury as Leader in Triple Bottom Line Financing

MCDC's work with Huls Dairy in Corvallis, Montana was recently highlighted in areport toCongressas an exemplary use of federal funding for small businesses.The U.S. Treasurys CDFI director DonnaGambrell noted that MCDC led the project with its own financing as well as funds from two economic development groups, two banks, and four federal grant programs.
MCDC Brings California Warehouse Business to Bozeman

MCDC recently provided a business loan to a Bozeman manufacturer and distributor of outdoor gear that helped move the companys operations from California to Bozeman. The loan created employee ownership opportunities and brought new jobs to Bozeman. Pacific Outdoor Equipment is a maker of durable camping, cycling, and paddling gear.