Montana First State Chosen to Receive Funds from New Goldman Sachs 10,000 Small Businesses Initiative for Rural Regions Montana CDC Receives $4.4 Million from Goldman Sachs in grants and loans for lending to small businesses in Montana.
Missoula, MT- Montana Community Development Corporation announced this week a partnership with Goldman Sachs 10,000 Small Businesses to bring capital for small business owners to Montana. Goldman Sachs and the Goldman Sachs Foundation have pledged $4.4 million for Montana businesses through the Montana Community Development Corporation. $4 million will go directly into Montana CDC’s loan fund and will be available for lending to small businesses across the State. The remaining $400,000 will be used to build capacity at Montana CDC so that it can continue to provide vital business services to entrepreneurs across the State.
“We are thrilled to bring this additional capital to Montana,” said Dave Glaser, President of Montana CDC. “With these funds, we now have the opportunity to do more for businesses throughout the state.”
Senator Max Baucus put the wheels in motion for Montana’s inclusion in this multi-million dollar business opportunity through his Economic Summit in Butte in 2010 where representatives from Goldman Sachs were introduced to Montana CDC and its work for small business across Montana.
Goldman Sachs 10,000 Small Businesses is a $500 million initiative that aims to unlock the growth and job-creation potential of 10,000 small businesses across the nation by providing access to capital, entrepreneurial education and technical assistance services. The program in Montana will be focused on offering capital and technical assistance. Nationwide, the program works with Community Development Financial Institutions like Montana CDC. Montana is the first state to be awarded funds dedicated to the advancement of small businesses in rural areas.
“This great news highlights that our economic development summits truly can bring the right people together to create Montana jobs,” said Montana Senator Max Baucus. “My hat goes off to the Montana Community Development Corporation for bringing the 10,000 Small Businesses initiative to our state. This investment will go a long way toward helping our small businesses hire more folks and put food on the table.” Continue reading