Loans available for Butte businesses struggling to stay afloat

Posted at 10:49 AM, Aug 25, 2020
and last updated 2020-08-25 12:49:55-04

BUTTE — Butte has more than $3 million in grant funds from the Economic Development Administration that can go to help businesses during this difficult summer of coronavirus.

“A business that’s struggling, we have some funding to help them get back on their feet and make sure they can stay open,” said Butte Local Development Corporation Executive Director Joe Willauer.

Businesses can apply at the BLDC website to work out a loan from this fund.

“We’ll get you in the pipeline and we have a loan team, as well as a small business development team that can help you get everything ready,” said Willauer.

Many locally-owned businesses have been struggling during the pandemic shutdown. The BLDC first offered these loans last spring when the virus first hit.

“And we’re excited to be able to do more and really get these funds on the ground helping businesses, which they are designed for.

Some businesses have not been able to weather the storm of the pandemic, but economic leaders say there is some promise for the future as people are showing interest in developing here in the Mining City.

“We’ve certainly seen an interest in development activity in Butte. Investors, both from within Montana’s borders and outside of Montana’s borders, looking at Butte, and we’re cautiously optimistic that level is going to continue through the remainder of 2020,” said Willauer.

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