Montana Working Capital Program for businesses that have lost 15% or more due to COVD-19

There are only a few days left for businesses to apply for Montana’s working capital program.

Under the CARES Act, this loan is for businesses that have lost more than fifteen percent of their revenue directly related to the coronavirus.

Freedom Bank President Don Bennett said if a company is approved, it would allow it to defer payments on a loan for a year.

He explained that their bank has combed through their customers and contacted those who qualify.

Bennett said only Montana banks and businesses are eligible for this funding — adding this funding will really help tourism businesses.

“A customer can go virtually an entire year without making a payment,” Bennett said. “Which will really help them, especially tourism-related businesses, this winter. It helps them kind of build up their cash reserves.”

Bennett suggests businesses go over their revenue to see if they qualify.

The deadline for to apply for funding is September 18.

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