Colstrip, Mont. – June 24, 2024 – The Southeastern Montana Development Corporation (SEMDC) is proud to announce it has been awarded $500,000 through the Montana Department of Commerce’s Big Sky Economic Development (BSED) Revolving Loan Fund Grant Program. This funding is part of an $8 million grant initiative to support economic growth across Montana.
The BSED Revolving Loan Fund Grant Program is designed to bolster local economies by providing economic development organizations with the resources to create new or enhance existing revolving loan fund programs. These programs are crucial for assisting businesses in their growth and development, fostering sustainable economic progress.
“Through the BSED Revolving Loan Program, this grant funding will help build strong partnerships between local economic development organizations and the State to help spur sustainable growth for Montana’s economy,” said Paul Green, Director of the Montana Department of Commerce.
SEMDC will use the $500,000 grant to expand its revolving loan fund and offer financial support to businesses in Custer, Rosebud, Powder River and Treasure Counties. This will enable businesses to access the capital they need to grow, create jobs, and contribute to the region’s economic vitality.
“We are thrilled to receive this significant grant from the Montana Department of Commerce,” said Amber Hert, SEMDC Loan Officer. “This funding will allow us to provide much-needed financial resources to local businesses, helping to drive economic development while collaborating with the local banking community in Southeastern Montana.”
For more information about the Southeastern Montana Development Corporation and its programs, please visit http://www.semdc.org or Contact: Jim Atchison, Executive Director, Southeastern Montana Development Corporation, Phone: (406) 748-2990, Email: [email protected]
SEMDC is a regional non-profit economic development group established in 1997 to stimulate and encourage economic activity in the four (4) Counties of Custer, Powder River, Rosebud, and Treasure. Today, SEMDC works with the private, public, and non-profit sectors to help create and retain jobs in these four counties. Our track record has documented over 1,160 jobs created or retained and nearly $85 million dollars in project assistance since 1997. Since 2005, we have been designated by the State of Montana as a Certified Regional Development Corporation (CRDC) and the federal Economic Development Administration (EDA) as an Economic Development District. For more information, contact SEMDC at 406-748-2990 or http://www.semdc,org
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