Bozeman Business Recovery Microloan

Bozeman Business Recovery Microloan

AIMED AT HELPING BOZEMAN SMALL BUSINESSES STABILIZE + RECOVER

The City of Bozeman Small Business Local Relief Fund is offering a microloan program aimed at helping small businesses in Bozeman stabilize and recover. Loans up to $30,000 are available at 3% for five years with no fees or closing costs. For the next steps, please review the eligibility requirements.

Application opens July 5, 2021

Use of Funds

• Working capital and wages
• Equipment and inventory
• Lease and utility payments.

Business Loans. Eligible businesses apply for a loan up to $30,000 at 3% interest for 5 years.

No fees or closing costs. NO prepayment penalty. No payments for 1 month (deferred). Businesses must provide a planned use of funds and demonstrate an ability to repay the loan.

Next Steps

1. Download the Checklist and verify that your business is eligible for a microloan. (start organizing documents needed for loan application)
2. Register for the Microloan Program below.
3. You will receive an instant notification on the webpage that you are registered. At the bottom of that page, look for the Link for "Registration Step 2" to complete your application.
4. When your application is complete, you will see a "Thank You" confirmation on the webpage.

Those that complete the application will receive an email with a secure link to submit the following documents.

Be Prepared to Share the Following Documents:

• Personal Federal income tax returns for 2020
• Business Federal income tax returns for 2020
• Personal financial statement (dated within last 2 months)
• 2021 business income statement and balance sheet (dated Jan.1 - June 30)
• For Corporations and LLC's - provide copies of:
  1. Limited Liability Company - Operating agreement and Articles of Organization
  2. Corporation - Bylaws and Articles of Incorporation

Only completed loan applications will be reviewed.

For questions, please call 406-587-3113 or email Cherie Nugent at info@prosperamt.org.