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Project Team:
Dr. Jennifer Isern, Catalyze Global Impact LLC, Co-Lead and Technical Director
Morgan Slemberger, Women's Entrepreneurship & Leadership Lab, Co-Lead
Karl Unterschuetz, Accelerate Montana, Co-Lead
Kassi Strong, Strong Marketing & Strategy, Project Manager
Anna Smoot, AM Smoot Consulting, Editor and Report Layout
Connor Mostek, Accelerate Montana, Public Data Research
Carolyn Crowder, Accelerate Montana, Content Curation and Report Layout
John Baldridge,Bureau of Business & Economic Research, Quantitative Survey Director
Janet Stevens, Bureau of Business & Economic Research, Survey Collection Coordinator
Advisory Committee Members:
Marcy Allen, Missoula Community Foundation
Lad Barney, US Department of Agriculture Montana State Office
Kelcie Bates, Loan Officer, Great Northern Development
Rena Carlson, Small Business Administration
Steve Clairmont, Mission West Community Development
Brian Cooley, Stockman Bank
Brent Donnelly, Small Business Administration
Jenn Ewan, SOVA, PLLC
Scott Kesler, AgWest Farm Credit
Jenny Nygren, Wells Fargo Bank
Luke Robinson, Montana Department of Commerce, Indian Country Programs
David Rook, Clearwater Credit Union
Liane Taylor, Montana Department of Commerce
Maria Valandra, Clearwater Credit Union
Unlock the Future of Montana's Economy.
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Genesis of this Initiative:
Accelerate Montana, Catalyze Global Impact LLC, and the Women's Entrepreneurship & Leadership Lab launched this initiative exploring Access to Finance for Businesses in Montana in 2022 to better understand:
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Who provides small business finance in Montana
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Which businesses receive financing
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What type and volume of financing to businesses receive
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What are the financing needs expressed by businesses
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How to ease market bottlenecks in the flow of small business finance across Montana.
To achieve this goal, the project team, guided by a deeply experienced advisory committee from across Montana, designed and implemented two quantitative surveys and over 125 qualitative interviews from 2022 to 2023.
Part 1 - A Survey of Funders focused on lenders, investors, state and federal agencies, and foundations that fund Montana’s small businesses.
Part 2 - A Survey of Montana Businesses focused on business owners, from solo entrepreneurs to businesses employing more than 50 people.
This report provides quantitative information, views of specialists across the state, and recommendations that state and federal policymakers, lenders, investors, and economic development organizations can use in shaping small business programs. We hope the study findings will generate discussions to pursue new opportunities that will increase the flow of successful business financing in Montana.