Montana CDC Designated as SBA 7(a) Lender
As part of its Community Advantage Inititative, the SBA recently expanded its 7(a) loan guarantee program to include mission-focused financial institutions. Montana CDC has been designated as an approved lender. The new inititive is aimed at increasing access to capital in underserved populations through entities like Montana CDC, that have lending experience in economically-challenged markets and the technical assistance resources to help make borrowers successful.
Joseph McClure, SBA District Director for Montana welcomes Montana CDC's designation as a 7(a) lender. "This is a great opportunity to expand the 7(a) program to underserved communities in Montana." Montana CDC has recently completed its required training in the program and has its first 7(a) loans in underwriting.