Opportunities in Rural Economies
The ORE program suite is currently undergoing the administrative rulemaking process. The ORE Loan Participation Program and the new Economic Development Organization Capacity Building Grant Program will operate under this refreshed program suite.
The ORE Program suite has two components: participation loans, including low-interest loans and forgivable loans, and grants.
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.
The purpose of the ORE LPP and ORE GP is to assist in economic development for Montana that will:
Visit the page to learn more about informationr related to the Administrative Rules for the Montana Department of Commerce.
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.
Eligible borrowers will work with either an enrolled EDO or participating lender to complete a qualification checklist to determine if borrower is ready to move forward with the project. If the borrower decides to proceed, an enrolled EDO initiates the preliminary application process. Once the preliminary application is submitted, the loan review committee will review the applications for eligibility and suitability with state and program requirements. The committee may request additional information or approve or reject the application. Receipt of an application does not imply a commitment for funding. Once a preliminary application has been approved, the borrower and enrolled EDO will work with a participating lender to complete a comprehensive application. The loan review committee will review the comprehensive application and a final determination for funding will be made.
Applications must be completed online by the enrolled EDO through the ServiceNow application portal located on the Grants and Loans Portal homepage.
An economic development organization is: (i) 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 (ii) an entity actively engaged in economic development and business assistance work in a region of the state. An enrolled EDO is an entity that meets the above definition that has executed an Economic Development Organization Enrollment Agreement and agrees to adhere to the terms and conditions present therein. Please contact program staff to become an enrolled EDO.
Participating lenders are financial institutions or local economic development organizations that are approved to participate in the Opportunities in Rural Economies Loan Participation Program. Approved participating lenders must execute a Lender Loan Servicing Agreement and adhere to the terms and conditions contained therein. Please contact program staff to become an approved participating lender.
Total ORE LPP Funding Available: | $8,000,000 |
Montana Department of Commerce
301 S Park Ave, Helena, MT 59620
Contact Us | 406-841-2700
Montana Relay 711