There are lenders, corporations, government agencies and non-profits in Montana that provide either (1) free grants or (2) low interest loans to minority as well as women or other disadvantaged businesses. Any financial help is combined with free coaching, mentoring, workshops and other support. Find where and how to get a free small business grant or loan below.
While funds are for any qualified small business (or entrepreneur), some of the assistance programs will focus on female, LGBTQ, veteran, Black, or Latino owned businesses (among others). The goal is to help someone start a business or grow one. Therefore grant or even interest free loans come with other support. Clients of these programs may be given free legal aid, marketing help, advice on getting government contracts, tips on creating a business plan or more.
The Montana government, non-profits, major corporations, and charities may all assist. They are all committed to giving short as well as long term help to women and minority owned small businesses.
Find minority and women grants or loans in Montana
The list of financial and other business development resources below is updated daily. Find companies, banks, and other sources of loans or free grants along with other support. Whether financial aid or free advice, these resources assist.
There is a statewide resource for women small businesses as well as entrepreneurs. Black, Latino, Veteran, LGBTQ, White, and any female owned company can turn to the Prospera Montana Women’s Business Center. Not only may funds be issued, including microloans, but counselors, volunteers, and staff give other support as well. There are networking opportunities, business plan development, use of computers, free coaching from women business owners and other assistance. Find details here. https://www.prosperamt.org/
August and September 2022
Montana is disbursing grant money as part of the State Small Business Credit Initiative. This will be an ongoing program in which the funds will be disbursed over the course of multiple months. Among other goals of the grant program is to help rural small businesses, including farmers, as well as and Native American entrepreneurs or people of color. The department of commerce as well as local CDFIs are also participating. Learn more here. https://commerce.mt.gov/
January 2021 and February 2021
Women owned businesses can apply for Impact Grants. Anywhere from $2500 to $7500 may be issued by the Montana Women’s Business Center. There will be priority for COVID relief and to help businesses that have been negatively impacted. Apply here. https://www.prosperamt.org/womens-business-center/impact-grant
By Jon McNamara