Lewistown 
Program Overview
The Montana Automation Loan Program Suite has two components: the Collateral Support Program and the Direct Loan Program.
- The Collateral Support Program is a credit enhancement, such as a pledged cash reserve or other approved support, to assist a Participating Lender in extending credit to an Eligible Applicant that is otherwise creditworthy but lacks sufficient collateral.
Purpose
The Montana Automation Financing Program is administered by the Montana Department of Commerce to extend financial assistance to Montana-based Manufacturing enterprises seeking to upgrade, replace, or expand their equipment through automation and modernization investments. The program supports businesses modernizing operations, enhancing efficiencies, and fostering growth. The program is not intended to replace jobs but to empower businesses to scale while upskilling their workforce.
The Montana Department of Commerce implements the Montana Automation Financing Program Guidelines regarding available financial assistance to Montana-based manufacturing enterprises seeking to upgrade, replace, or expand their equipment through automation and modernization investments. Commerce accepted public comment on the proposed guidelines and received one comment. Commerce declined to implement the requested change due to limited funding. The final document is implemented as originally drafted.
Registration Requirement: OKTA
OKTA account Registration is required to access the application for the Automation Financing Direct Loan Program. OKTA Instructions in PDF.
Eligible Borrowers will work with a Participating Lender to determine eligibility and suitability for the Collateral Support Program. The Participating Lender will complete an application through the application portal. Once the application window has closed, a loan review committee will review applications. The committee may request additional information from the Participating Lender and approve or reject the application. The Participating Lender will be notified of the committee’s decision and will work with the Eligible Applicant on the next steps. Receipt of an application does not imply a commitment for funding.
Lenders interested in participating in the Collateral Support Program must execute a Lender Servicing Agreement. Participating Lenders can find the Collateral Support application in the ServiceNow portal.
Total Collateral Support funding: $1,000,000
Lenders interesting in participating in the Automation Financing Collateral Support Program will need to execute a Lender Participation Agreement. Please contact program staff for more information.
If you have questions, reach out to Josh Bennett, loan coordinator and business resource partner, at josh.bennett@mt.gov or 406-841-2748; or Krissie Milligan, business resource partner, at krissie.milligan@mt.gov or 406-841-2741.
