Micro Loan Program
Description
To improve the economic vitality of Southwest Montana by encouraging the growth of small businesses that will help diversify and stabilize local economies. Use of Funds
Working capital; Furniture; Fixtures & Equipment; Land & Building Purchases; Revolving Lines of Credit. Financing Methods
Headwaters RC&D Area, Inc. provides direct funding of Micro loans. Bank loan guarantees possible in certain circumstances. Qualification
Small Businesses with fewer than 10 employees, gross revenues under $1,000,000 and located within Headwaters seven county Economic Development District. Loan Amounts
$5,000 to $100,000 Term of Loan
Working Capital: 2 - 7 years
Equipment: 10 Years Maximum (based on life of equipment)
Land/Buildings (Purchase): 10-15 Years
Lines of Credit: 1 Year Interest Rate (Subject to Change)
Ranges from 3% to 4% over prime rate as published in the Wall Street Journal, based on risk and fixed at time of loan approval. Fees (Subject to Change)
Loan Fee: $200 or 1% of loan amount, whichever is greater.
Loan Loss Reserve Fee: 2% of loan amount. Collateral
Available Business and Personal Assets. Equity & Matching Funds Requirements
Equity: Case by Case Basis
Matching Funds: None Required Back to Loan Program Home Page | 
