Havre Daily News - News you can use

Senators announce $15 million awarded to help Montana businesses survive pandemic

Bear Paw Development receiving $400,000; funds will help respond to and prepare for future disasters, provide loans for small businesses

 

August 20, 2020



Note: This was provided by the offices of U.S. Sens. Jon Tester and Steve Daines

Editor’s note: Watch for more in upcoming editions of The Havre Daily News

U.S. Sens. Jon Tester, D-Mont., and Steve Daines, R-Mont., announced in press releases that nearly $4 million in Recovery Assistance Revolving Loan Funds and more than $11 million has been awarded in Recovery Assistance Grants to help communities across Montana recover from the coronavirus pandemic. Tester secured these funds as part of the Coronavirus Aid, Relief, and Economic Security — CARES — Act.

“The coronavirus pandemic has hit Montana’s economy hard, and our local small businesses need all the support they can get to weather this storm,” Tester said. “I fought to secure these funds so that Montana Economic Development Organizations have the tools they need to help Main Street businesses all across our state keep the lights on and continue serving their communities during the outbreak, and I will keep working to make sure all Montanans have the support and resources they need to survive this crisis.”

“This funding is about empowering Montana small business owners whose operations have been impacted by the ongoing COVID-19 pandemic and strengthening our local communities,” Daines said. “I will continue working to ensure our small business owners get the help and support they need to get through these challenging times.”

The funding is available through the Economic Development Administration and will help Montana communities respond to the coronavirus pandemic by providing grants to help economic development districts respond to this disaster and plan for future ones, and by providing critical gap funding for small businesses struggling to make ends meet during the outbreak.

The $3.9 million in Recovery Assistance grants for Montana Tester and Daines announced today includes: 

• Beartooth Resource Conservation & Development Area, Joliet, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to provide technical assistance to businesses and communities in their region.

• Bear Paw Development Corporation of Northern Montana, Havre, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to help local governments rehabilitate infrastructure, strengthen the regional food system supply chain, and promote remote work opportunities for both employers and employees.

• Great Northern Development Corporation, Wolf Point, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to hire additional staff to provide technical assistance and disaster relief best practices to support economic recovery in northeast Montana.

• Headwaters Resource Conservation & Development Area, Butte, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to deliver much-needed support, planning and assistance to southwestern Montana.

• Montana Business Assistance Connection, Helena, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to hire additional staff that will focus on providing technical assistance to spur business recovery, support workforce needs, and boost the region’s critical tourism sector.

• North Central Montana Economic Development District, Great Falls, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to increase community capacity and technological capabilities, and provide business sustainability and community development assistance. Efforts will also include resilience planning at the local level to assist in mitigating future challenges

• Northern Rocky Mountain Economic Development District, Bozeman, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to hire a recovery coordinator and a data analyst to coordinate work among recovery response teams serving the region’s economic development, tourism, health and other sectors.

• Snowy Mountain Development Corporation, Lewistown, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to increase staff and technology to provide technical assistance to businesses, entrepreneurs and local governments in addressing disaster recovery and resiliency efforts throughout central Montana.

• Southeastern Montana Development Corporation, Colstrip, Montana, will receive a $400,000 EDA CARES Act Recovery Assistance grant to support proactive planning for small businesses and local governments to help minimize future economic and natural disaster impacts.

• Eastern Plains Economic Development Corporation, Baker, Montana, will receive a $300,000 EDA CARES Act Recovery Assistance grant to provide technical assistance to businesses and communities in the region.

The $11.1 million in Revolving Loan Funds for Montana Tester and Daines announced includes:

• Great Falls Development Authority Inc., Great Falls, Montana, will receive a $4.8 million EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF that will provide gap financing and loans to coronavirus-impacted businesses in Cascade, Glacier, Pondera, Teton and Toole counties.

• Butte Local Development Corporation, Butte, Montana, will receive a $3.5 million EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF that will provide loans to coronavirus-impacted businesses in Butte-Silver Bow county.

• Montana Community Development Corporation, Missoula, Montana, will receive a $1.6 million EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF to provide loans to coronavirus-impacted small businesses in Missoula County.

• Montana Business Assistance Connection Inc., Helena, Montana, will receive a $660,000 EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF to provide loans to coronavirus-impacted small businesses in Anaconda-Deer Lodge, Beaverhead, Butte-Silver Bow, Granite, Jefferson, Madison and Powell counties.

• Headwaters Resource Conservation & Development Area, Butte, Montana, will receive a $550,000 EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF to provide loans to coronavirus-impacted small businesses in Anaconda-Deer Lodge, Beaverhead, Butte-Silver Bow, Granite, Jefferson, Madison and Powell counties.

 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020