GFDA secures $657,000 to help businesses in the Golden Triangle region

Posted at 11:02 AM, Oct 02, 2020
and last updated 2020-10-02 13:02:26-04

The Great Falls Development Authority has secured $657,000 to help businesses across the Golden Triangle.

GFDA is getting the money from the Community Development Financial Institution Fund.

The fund from the U.S. Department of Treasury provides loans for communities across the country to grow business.

This is the sixth year that GFDA has received money from the fund. The money can be used to fill in funding gaps for new or expanding businesses if a bank isn't able to provide all that's needed.

"One of the nice things about this money is that is has fewer restriction than some of our other loan funds we have, so we can do a greater variety of projects,” explained Great Falls Development Authority president Brett Doney.

In the past, CDFI money has been used for non-profits loans, as well as to promote apartment construction.

Anyone starting, expanding, or modernizing a business or non-profit in the Golden Triangle is welcome to contact the GFDA for more information or to apply; click here to visit the GFDA website.