Department Of Commerce

Program Overview

The ORE Program suite has two components: participation loans, including low-interest loans and forgivable loans, and grants.

  • The Opportunities in Rural Economies Grant Program may provide matching funds to assist with feasibility and planning 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.

The Montana Department of Commerce has created the ORE LPP, the ORE EDO CBG and the 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 the ORE LPP and ORE GP is to assist in economic development for Montana that will:

  • Create good-paying jobs for Montana residents.
  • Promote long-term, stable economic growth in Montana.
  • Retain or expand existing businesses.
  • Provide a better life for future generations through greater economic growth and prosperity in Montana.
  • Encourage workforce development.

 

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 award letter, originated by Commerce, is issued to grantees 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.

Commerce: The Montana Department of Commerce.

Commitment Letter: The written commitment letter, originated by Commerce, specifies the terms and conditions under which Commerce will participate in a specific loan.

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

Economic Development Organization: An EDO is a private, nonprofit corporation, as provided in Title 35, Chapter 2, MCA, 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: An eligible business is a for-profit or nonprofit business, cooperative business or tribally owned business that is engaged in business activities in Montana which will provide a significant positive economic impact to the community, region or state.

Enrolled EDO: This is an economic development organization that has executed an EDO Enrollment Agreement.

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

Jobs Created: Jobs created are full-time equivalent 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: Jobs retained are full-time equivalent 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: The loan review committee is an internal committee comprised of Commerce employees to review loan applications and ranking factors.

Participating Lender:  This is a financial institution, an economic development organization that manages revolving loan funds or a community development financial institution. A participating lender must execute a Lender Loan Servicing Agreement with Commerce. 

Participation Loan: A participation loan is a loan in which a participating lender, borrower and Commerce have agreed to participate in a loan and collateral security. 

Participation Loan Certificate: This is the certificate provided by Commerce 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 Commerce’s respective shares thereof, according to the terms of the commitment letter.

Registration Requirement – OKTA

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

 
 
 
  • Mackenzie Espeland, Business MT division administrator
    Phone: 406-841-2732
  • Kathy Bartlett, grant coordinator
    Phone: 406-841-2792
  • P.O. Box 200505
    301 S. Park Ave.
    Helena, MT 59620-0505