The U.S. Small Business Administration announced that the Montana Community Development Corporation (“MoFi”) has been awarded a $187,270 SBA PRIME grant to help low-income entrepreneurs gain access to capital to establish and expand their small businesses through the Program for Investment in Micro-Entrepreneurs PRIME. The 2019 PRIME Grant will help MoFi offer training and technical assistance to strengthen economically disadvantaged businesses, particularly those that service entrepreneurs in Opportunity Zones, rural areas, and HUBZones.
“Montana has achieved a great amount of national attention for its innovative outreach efforts to rural communities and high-tech businesses,” said SBA Montana District Director Wayne Gardella. “This PRIME grant to MoFi will allow the organization to focus its lending outreach energies on mostly rural areas across Big Sky Country.”
“Entrepreneurs in rural areas face a unique set of obstacles when it comes to starting or growing a business,” said MoFi President and CEO David Glazer. “The SBA PRIME award will enable MoFi to help even more of its borrowers overcome these challenges. This includes assistance with things like accounting and financial management, legal assistance, and marketing. We know that these support services can make all the difference between a struggling business and a successful one-particularly in a remote location. We’re grateful for our longstanding partnership with the SBA, and look forward to our continuing collaboration to help rural businesses thrive.”