Ah, Big Sky Country! This beautiful state is known for its natural beauty and varied wildlife—but it’s also a great place to start a new business. If you’re thinking about starting a Montana-based business—or you already own one—you need funding. That’s where we come in. The list below details business loans and grants only available to Montana-based companies. Check it out.
Department or Agency: Montana Department of Labor & Industry
Loan or Grant title: Incumbent Worker Training (IWT) program
The IWT program provides grants of $1,000 or $2,000 to offset the costs of skills-based training for existing employees. Small businesses (both for-profit and nonprofit) are eligible if they’ve been operating in Montana for at least one year and have no more than 50 employees. (Starting October 1, 2023, businesses with more than 50 employees may apply.) Businesses must register with the Montana Secretary of State’s Office and meet the employer matching funds requirement.
Department or Agency: Billings Community Foundation
Loan or Grant title: Capacity Building, Collaborative, Community & Regional Impact, and Endowment Challenge
The Billings Community Foundation runs four grant programs for nonprofit organizations in Yellowstone, Musselshell, Rosebud, Custer, Treasure, Bighorn, Carbon, Stillwater, and Fergus counties. Grants range from $2,500 to $5,000, and each grant has guidelines on how recipients can use the funds.
Department or Agency: The Foundation for Montana History
Loan or Grant title: Grant
This foundation provides grants of up to $10,000 for nonprofits and tax-exempt organizations. To win a grant, businesses must “make a significant contribution to the preservation and interpretation of Montana history,” such as restoring historical buildings or preserving important collections.
Department or Agency: Montana Department of Commerce
Loan or Grant title: Tourism Grant Program
This program provides grants for projects that promote tourism and recreation, and events that attract out-of-town visitors. Nonprofits and tribal, city, and county governments may apply for this grant.
Department or Agency: Montana Arts Council
Loan or Grant title: Strategic Investment Grants (SIG)
SIG provides grants of up to $1,000 to cover the costs of professional development, market expansion, and art events. The Arts Council accepts applications monthly and the due date is the 15th of each month. The following individuals and businesses are eligible to apply: Individuals who are at least 18 and have lived in Montana for the past 12 months Nonprofit organizations that have operated for at least 12 months