Financial Services and General Government

These Montana projects will help invest in our state's small businesses by providing financial training and access to capital.  Our small businesses and entrepreneurs are what drive our state's economy, and these programs will help them grow and succeed.

Information about each project was provided by the requesting entity. Amounts requested are not guaranteed; funds secured are likely to differ from the requested amount.  Senator Tester's appropriation requests to the Financial Services and General Government Subcommittee for Fiscal Year 2010 are listed below.

United States Senate Appropriations Subcommittee on Financial Services and General Government

 
Central Montana Growth Fund

Amount:  $137,500
Great Falls Development Authority (Great Falls, MT)
This program will provide vital loan capital to help meet the growing need for gap financing products to assist small businesses. The fund will provide capital to growing businesses that may not have ample collateral to access bank financing, but do have other qualities such as strong management and orders or contracts that make them good candidates for investment. Because this is an established program, almost all of the funds will go into the loan fund.
 
High-Technology Assistance Program for Micro and Nano-Technologies

Amount:  $1,000,000
Montana State University (Bozeman, MT)
This program will assist Montana high-technology businesses in adopting micro and nanotechnologies as a means to improve their products and increase their competitiveness. The program will offer training, access to specialized facilities of the Montana Microfabrication Facility (MMF) and technical assistance to regional businesses, thereby enhancing the nanotechnology infrastructure of the Rocky Mountain region.
 
Revolving Loan Fund

Amount:  $500,000
Montana Technology (MonTEC) Enterprise Center (Missoula, MT)
This program will provide MonTEC's 16 early-stage tenant companies with financing and working capital to improve cash flow during the business' start-up phase. MonTEC gives first priority to commercializing research projects at the University of Montana and successful commercialization of research will reinforce the University's ability to secure new research funding.
 
Rural Economic Development

Amount:  $500,000
Montana Cooperative Development Center (Great Falls, MT)
This program will allow MCDC to continue to provide business development services to the entire state of Montana using the cooperative business model. Economic development organizations rely on the MCDC to provide this service because of the complexity of the business model, the number of hours to be dedicated to one project and the level of expertise needed. MCDC is the sole professional statewide provider of this service for forming cooperatives, which are on the rise in Montana.
 
Technology Venture Center

Amount:  $137,500
TechRanch Next Step (Bozeman, MT)
This program will allow TechRanch to expand its reach into clean and renewable energy start ups across the state; expand its very successful Bootstrapping Program (Loans and Education) in smaller rural communities; expand its programs and networks for all Montana companies seeking investment capital (payroll); and launch a new Quick Start program to stimulate job creation in the high tech sector.