Top Ten for June 12

Here is our Top 11 for this week celebrating work and successes to grow and strengthen the Great Falls regional economy — Montana’s Golden Triangle. And, sharing business resources and skill-building opportunities to empower your success.

1) The first cohort of our new accelerator class for early-stage companies, Accelerate Your Startup, completed its fourth and final module. We will celebrate these seven graduates with a Business Pitch In event on Tuesday, June 28th from 11 AM – 1 PM at The Wild Hare (located at 518 Central Avenue in Great Falls). Save the date and join us to hear the pitches of these new businesses and enjoy opportunity to buy a great lunch.

2) We made $150,000 in gap loans to support redevelopment of the Metropolitan Building on Central Avenue in downtown Great Falls, leveraging an investment of over $700,000 in the property.

3) June seems to be Foreign Direct Investment (FDI) month! We are reaching out to dozens of companies that would make a great fit in our market in preparation for our virtual Select USA SpinOff summit Invest in Great Falls Montana on June 22 at 8 AM Mountain Time and hope to meet them in person in DC at the annual Select USA Investment Summit June 26-29. Learn more about our FDI efforts here.

4) Each week Great Falls Tribune reporter Traci Rosenbaum features Inspire/Aspire Award winners honored at 2022 Fire Within in Great Falls. This article shares the stories of Molly McGonigal of 406 Cookies and Bonnie Beuning of Century 21 Northwest Realty. Congratulations to the 2022 Fire Within Award winners!

5) NACDC Financial Services in Browning and the Montana Disadvantaged Business Enterprise Program are hosting a two day QuickBooks workshop in Browning on June 23rd and 24th. Click here to register,
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6.)TC Glass hosted an open house at their new location at 1300 River Drive North in Great Falls. TC Glass is a third-generation company operated by Tye and Cody Habel. The recent expansion will provide TC Glass the opportunity to grow their fabrication operations. Tye credits GFDA for helping with the expansion, “GFDA was very helpful with the process, and to make the expansion possible we needed gap financing. GFDA stepped in.  Without GFDA it wouldn’t have been possible.” Congratulations to TC Glass!

7. Independence Bank is growing by leaps and bounds in Montana. Their newest branch will be located on River Drive North in Great Falls and is set to open in August. Learn more about Independence Bank’s services in the Announcement of the Week. Thank you for investing in the Great Falls region!

8) The effective SBA 504 loan rates for June, including all fees, are 5.187% for a 25-year loan, 5.127% for a 20-year loan, and 4.922 for a 10-year equipment loan. Refinancing loans came in at 5.200% for 25 years, 5.141 for 20 years, and 4.938% for 10 years. Interest rates on SBA 504 loans are fixed for the life of the loan. Using the SBA 504 loan structure for your business real estate, long-term equipment, and refinancing needs can make it possible for you to invest as low as 10% of the deal, preserving your cash to fund business operations. These loans can be used for property acquisition, including commercial condos, construction, renovations and equipment purchase. Contact Jill Kohles for more information at JKohles@GrowGreatFalls.org or 1-406-590-1056.

9.)We received our 2021 Financial Award from the Community Development Financial Institution Fund of the U.S. Treasury, $266,530 in grant funds matched 1:1 by our local investors and $500,000 in the form of a long-term loan that will be matched by a $500,000 loan from the Montana Board of Investments. We plan to immediately invest much of this new loan capital into an important project in Great Falls to enable it to move forward. Some of the new capital must be invested in Glacier County where we have a remote-located Rural Business Adviser, Rich Gannon. For help starting or growing your business, contact Rich at RGannon@GrowGreatrFalls.org or 1-406-836-2078.

10) Team members Christian, Jake, Jenn, Justin and Lyndsay are headed to Colorado next week for the Basic Economic Development course. This course will better prepare our team as economic development professionals and qualifies as part of the International Economic Development Council (IEDC) Certified Economic Developer (CEcD) designation. Did you know that out of only four Certified Economic developers in the state of Montana, two, Brett Doney and Jolene Schalper, are on Team GFDA? If you need expert economic development support for your complex big idea for Great Falls, reach out to the GFDA Team.

11) Learn more about what it takes to drive growth in the region by viewing this short VIDEO. These investors are the reason we can keep working to help grow the local economy & bring higher wage opportunities. Recent investments include: Community Division—Shumaker Trucking & Excavating Contractors, Inc. If you are interested in joining our team of investors, or just want to visit about how you can help to grow Great Falls, contact Investment Director Jenn Gallmeier at 406-781-9499 or Jenn@GrowGreatFalls.org.

Brett Doney
President & CEO
Connect with me on LinkedIn to network with the Great Falls Montana region. Forward the GFDA Top 10 to friends and colleagues.
Curious to see how these projects pencil out?For each of the vision projects we have project analysis that includes Project Descriptions, Cash Flow Projections, and Rent Roll Summaries.