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MWED offers local emergency loans

| March 29, 2020 1:00 AM

In response to the COVID-19 crisis, Montana West Economic Development (MWED) in partnership with City of Columbia Falls, announces the COVID-19 Emergency Stabilization Loan Program to offer relief to affected businesses.

The Emergency Stabilization Loan Program is immediately available to qualified businesses under the following terms:

— Up to $5,000

— 0% interest over the term

— 12-month term

— 6 months 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.

Simplified loan application process to access needed funds is subject to:

— Abbreviated loan application

— Credit check

— 2019 financial statement

— Phone interview

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.*

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.

*subject to MWED/Bank agreement