Commerce Awards Small Business Grants to 26 Native-Owned Businesses in Montana
$320,000 to support start-up or expanding small businesses
HELENA, Mont. – The Montana Department of Commerce announced in a press release this week $320,000 in funding has been allocated to support 26 start-up or expanding Native American businesses in Montana through Commerce’s Indian Equity Fund (IEF) Small Business Grant Program.
“For Montana’s economy to remain resilient and strong, it is vital that tribal businesses continue to expand and grow in numbers,” said Paul Green, Director of the Montana Department of Commerce. “That’s why Commerce will continue to support Montana’s small businesses through different programs that will help reinforce our state’s economy into the future.”
IEF funding can be used for a variety of activities, such as the purchase of new equipment or the development of a new product line. Awards for individual businesses can be up to $14,000 with a minimum dollar-to-dollar cash or in-kind match.
The following Apsáalooke businesses will receive IEF grants:
- Studio 27 Salon in Billings will receive $14,000 to purchase commercial salon equipment to support the business.
- Pitsch Cattle in Crow Agency will receive $14,000 to purchase a large portable corral system to increase productivity.
- Wolf Mountain Storage in Crow Agency will receive $12,000 to purchase equipment to start a storage facility.
Eligible applicants for IEF grant funding include enrolled members of the eight federally recognized tribes in Montana. Each year, a total of $320,000 of IEF program funding is available to support Native American businesses in Montana.
The IEF is one of four financial assistance programs under Commerce’s Office of Indian Country Economic Development. Other funding opportunities include the Native American Business Advisors, Tribal Tourism and Native American Collateral Support grant programs.
For more information about the IEF grant program, visit business.mt.gov.