Department Of Commerce

Program Overview

The Opportunities in Rural Economies Program Suite has two components: (i) Participation Loans, including low-interest loans and forgivable loans; and (ii) grants.

  • The Opportunities in Rural Economies Loan Participation Program is designed to accelerate the growth of new business opportunities, encourage the creation of high-paying jobs, and diversify the state's economy by providing low interest participation loans with a Participating Lender and/or forgivable loans.
  • The Opportunities in Rural Economies Grant Program may provide matching funds to assist with projects that would provide a significant economic benefit to a community.

ORE Program loans and grants may not be used for a project that would result in the transfer or relocation of jobs from one part of the state to another part of the state. See § 90-1-203(1), MCA.

Commerce has created the ORE LPP and ORE GP. The ORE Program Suite exists within the Big Sky Economic Development Program authorized by §§ 90-1-201, MCA, et seq.

Purpose

The purpose of ORE LPP and ORE GP is to assist in economic development for Montana that will: (a) create good-paying jobs for Montana residents; (b) promote long-term, stable economic growth in Montana; (c) retain or expand existing businesses; (d) provide a better life for future generations through greater economic growth and prosperity in Montana; and (e) encourage workforce development.

Program Guidelines

The Opportunities in Rural Economies guidelines are now available for viewing or download.

ORE Program Guidelines

Definitions

ORE LPP and Grant Program Guidelines incorporate by reference the definitions adopted by § 90-1-201(2), MCA, as well as the following:

Award Letter: The written letter originated by MDOC, issued to a grantee to notify them a grant award has been made and funds may be used in the approved manner.

Basic Sector Company: A basic sector company has a physical base in local communities but derives the majority of its revenue from outside the community.

Commitment Letter: The written document, originated by MDOC, specifies the terms and conditions under which MDOC will participate in a specific loan

Cost Estimate: Specify all sources and uses of funds for the entire project. Expenses and an explanation of how costs are derived should be included (for example, quotes from contractors, purchase orders, project cost breakdown, as applicable.)

Economic Development Organization (EDO): a private, nonprofit corporation, as provided in Title 35, chapter 2, that is exempt from taxation under section 501(c)(3) or 501(c)(6) of the Internal Revenue Code, 26 U.S.C 501(c)(3) or 501(c)(6) or an entity actively engaged in economic development and business assistance work in a region of the state.

Eligible Business: A for-profit or nonprofit business, cooperative business, or tribally owned business that is engaged in business activities in the state that will provide a significant positive economic impact to the community, region, or state.

Grant Review Committee: An internal committee comprised of Commerce employees to review grant applications and ranking factors.

Jobs Created: Full-time equivalent (FTE) positions that are newly established as a direct result of the award or program. These positions must represent new employment opportunities and cannot include positions relocated from another Montana community.

Jobs Retained: Full-time equivalent (FTE) positions that currently exist within the business but are at risk of being lost without the support of the award or program.

Loan Review Committee: An internal committee comprised of Commerce employees to review loan applications and ranking factors.

MDOC: The Montana Department of Commerce.

Participating Lender:  Is (1) a financial institution, (2) an economic development organization that manages revolving loan funds, or (3) a Community Development Financial Institution (“CDFI”). A Participating Lender must execute a lender loan servicing agreement with the MDOC. 

Participation Loan: A loan where a Participating Lender, borrower, and MDOC have agreed to participate in a loan and collateral security. 

Participation Loan Certificate: The certificate provided by MDOC and executed by the Participating Lender that is accepted in writing by both parties. The Participation Loan Certificate sets forth the amount of the Participation Loan, as well as the Participating Lender’s and MDOC’s respective shares thereof, according to the terms of the Commitment Letter.

Rural: To determine if your project is in a rural area for ORE programs, please visit: https://mtdoc.maps.arcgis.com/apps/dashboards/cae102af36704124abac28734a1367ec

Urban: To determine if your project is in an urban area for ORE programs, please visit: https://mtdoc.maps.arcgis.com/apps/dashboards/cae102af36704124abac28734a1367ec

Application Process

Eligible applicants must submit to the MDOC a complete application with supporting documentation. The completed application will be reviewed by the Grant Review Committee to ensure it aligns with program objectives, evaluates the project’s viability, and considers its economic and community impact as outlined in the ranking criteria. If necessary, the Grant Review Committee may request additional documentation or clarification during the review process.

The Grant Review Committee provides funding recommendations to MDOC’s Director, who will make the final funding decision. The Program does not accept appeals for rejected applications, and all decisions are final. Receipt of an application does not imply a commitment for funding from MDOC.

REGISTRATION REQUIREMENT – OKTA

OKTA account registration is required to access the applications for the ORE Program Suite.

Application Links

Find out more about the Opportunities in Rural Economies Program Suite application.

ORE Loan ApplicationORE Grant Application