MCDC Press Releases

HOME > PRESS RELEASES > Montana Indian Equity Fund...

 

 

Montana Indian Equity Fund Launches its Seventh Year of Grants
for Indian Business Owners


The Montana Department of Commerce announced that the Montana Indian Equity Fund applications are now being accepted. The grant is open to enrolled members of Montana Tribes. Two recipients from each of the Tribes may receive up to $7,000 each to fund either a business startup or to grow their business.

The Montana Indian Equity Fund is a state-funded program administered by the Montana Department of Commerce. Funding is utilized from the Indian Country Economic Development program (ICED) via the recommendation of the State Tribal Economic Development Commission (STED) and the approval of the Director of Commerce.

Montana Indian Equity Fund Launches its Seventh Year of Grants for Indian Business Owners The application Period is September 10 - November 26, 2012.

"The Montana Indianpreneur Equity Fund is about empowerment," said Governor Brian Schweitzer. "This fund is an outlet to help Indian business owners achieve their goals and enhance their communities. Each success story will add to the momentum of economic change in Indian Country."

Unlike non-native small business owners, traditional forms of equity from home ownership, family and friends are often not available to the Indian business owner for various economic reasons. The Fund is a grant to assist a current Native American business or a new Native American business owner. This money can be used for a variety of activities such as the purchase of new equipment or the development of a new product line. The fund requires a minimum of dollar to dollar match which may include collateral such as cash, in kind, or loan funds such as a tribal loan fund, a community based loan program, or a commercial lender. Examples of in kind match may include inventory, supplies, equipment, tools or vehicles that are part of the activity of the business.

For more information regarding the fund or to request an application, please contact the program manager at the Montana Department of Commerce, Philip Belangie, pbelangie@mt.gov or (406) 721-3663.

Montana Indian Equity Fund Guidelines

 

 


If you would like to submit additional resources to be listed, you may contact us at info@mibaonline.org