State-Bank Partnership Program Opens Oct. 1 for Low-Interest Rural Business Loans

HELENA — The Montana Department of Commerce will open applications Oct. 1 for a new loan program designed to help rural businesses access capital at lower interest rates.

The Opportunities in Rural Economies Loan Participation Program partners with local banks and lenders to provide financing for projects that create jobs and strengthen rural economies across Montana.

“Commerce is excited to launch this program and begin reviewing impactful projects that support rural Montana,” said Commerce Director Marta Bertoglio. “This is a unique opportunity for local lenders and economic development partners to collaborate in delivering capital to businesses that need it most.”

Applications will be accepted through Oct. 28, giving businesses and their lenders four weeks to submit proposals. The department will review applications on a rolling basis during that window.

How the Program Works

Rather than lending directly to businesses, the state will partner with existing banks and lenders who already serve rural communities. This approach leverages local banking relationships while providing state backing to reduce interest rates for qualifying projects.

The program targets businesses in Montana’s “basic sector industries” — companies that sell products or services outside the state and bring new money into local economies. Examples may include food processing plants, lumber mills, software companies serving national clients, guest ranches, and mining operations.

Streamlined Partnership Structure

The new program operates under a broader agreement that also governs the state’s Wood Products Revolving Loan Fund and Automation Loan Program, which Western Montana News covered in July when timber harvest goals doubled statewide.

Commerce will host an information session for lenders on Aug. 28 at 11 a.m. to explain the program requirements and answer questions.

Economic Development Support

Local economic development organizations can also participate by helping businesses navigate the application process. Organizations that enroll with the program will be eligible for capacity-building grants expected to launch in early 2026.

Economic development groups planning to support loan applications when the program opens must apply for enrollment by Sept. 10 to allow time for state review and approval.

Commerce encourages businesses interested in the program to contact their local bank or economic development organization early to begin eligibility discussions and ensure complete applications.

For more information, contact Business Resource Partner Josh Bennett at 406-841-2748 or visit commerce.mt.gov.