Zero percent business loans available

Montana West Economic Development and the City of Columbia Falls have teamed up to create a local business loan program due to the novel coronavirus outbreak.

The Emergency Stabilization Loan Program is immediately available to qualified businesses, with zero percent interest loans up to $5,000.

Terms are 12 months with six months of deferred payments.

Businesses that have been directly impacted by the COVID-19 crisis and do not qualify for conventional credit from a bank are eligible to apply. Funds are available to businesses in Flathead County.

The loan application has been simplified and can be done over the phone.

Additional criteria and the application for the loan are available on MWED’s website at www.dobusinessinmontana.com. A completed application package can be emailed to loans@dobusinessinmontana.com or mailed to 44 2nd Avenue West, Kalispell, MT 59901. Upon receipt of a complete application package, and upon credit approval, funds will be disbursed within days.

Should larger loans be needed, MWED will offer up to $5,000 guarantees to banks making those larger sums available, depending on bank or lending institution approval.

For information on the emergency loan funds, MWED or other COVID-19 economic development resources in the Flathead Valley, please contact MWED Loan Officer, Stephanie Juneau - at loans@dobusinessinmontana.com or 406-257-7711 ext. 1.