BLDC Loan Fund Program

Access to capital/credit is one of the most important issues of interest to businesses.

The BLDC serves as the leading point of contact for individuals and companies wishing to save, expand, start or locate a business in Butte-Silver Bow area.  The BLDC will work with the public and private sector to provide or coordinate business start-up, retention, expansion and recruitment services including technical assistance, planning assistance, or financial assistance as required.

The Butte Local Development Corporation owns and operates its own Revolving Loan Fund which is an excellent financing option available for Butte businesses.  The purpose of the BLDC’s loan program is to encourage and accelerate quality job creation, retention and recruitment of businesses to Butte Silver Bow.  Our financing is used primarily as GAP financing in participation with your financial institution.

Eligible Uses

• Business acquisitions, construction, conversion, enlargement, repair, modernization, or development costs
• Purchasing and development of land, easements, rights-of-way, building, facilities, leases, or materials
• Purchasing of equipment, leasehold improvements, machinery or supplies
• Transportation services
• Start-up costs and working capital
• BLDC will only provide financing that is otherwise not available
• May be used as an incentive to recruit new business to the area

BLDC Loan Fund Policies

• Loans will only be made to businesses located in Butte Silver Bow
• Loan amounts will not exceed $250,000
• 2% loan fee is assessed once the loan closes
• Borrowers are responsible for appraisals, title insurance, environmental engineering, preparation of financial statements, and other professional services as needed
• 20% equity preferred, but in no case lower than 10%
• Rates and Terms
  • 7% Interest
  • Working Capital – 7 years
  • Equipment – 10 years maximum (based on the life of the equipment)
  • Real Estate – 10 to 20 years
• Bank participation is preferred
• Financing may be subordinated to participating lender
• Sufficient cash flow and positive net income must be demonstrated by Borrower
• Borrowers may be required to obtain business counseling services by our Small Business Development Center partner at Headwaters RC&D.

For forms regarding application for a loan, a typical business loan checklist and other information, please click the links below to view/download the PDF:

• BLDC Loan Application- Fillable PDF
• BLDC Loan Application- Download to Print
• Personal History Statement
• Personal Financial Statement
• Information Release Form

To schedule an appointment, call or email Holly Carpenter at 406-496-3172 or hcarpenter@bldc.net.

For assistance in starting up your business, business plan development, market assistance, financial technical assistance and low-cost training, please visit our Small Business Development Center partner at Headwaters RC&D.