Second round of Business Stabilization Grants now available

Nearly 8,000 Montana businesses have been paid a Business Stabilization Grant and now each of those businesses is eligible for a second payment.

Businesses awarded a grant prior to Aug. 12, 2020 are eligible to receive a second award equal to the first as long as they still meet the original criteria of the program: Montana-based, 50 or fewer employees, sustained loss of revenue due to the COVID-19 pandemic and in good standing with the Secretary of State or tribal government.

Businesses must use the additional funding to support their business operations by December 30, 2020, per CAREs Act guidelines. Funds may be used as working capital for small businesses to support payroll, rent, accounts payable, debt service and expenses related to shifts in operations in order to retain existing businesses, retain current employees or retain business viability for future re-employment.

Applicants do not need to re-apply to receive a second round of funding. Watch for an email from the Montana Department of Commerce instructing awardees on how to accept a second award. Responses are required by September 2.

New applicants are eligible to apply for up to six months of working capital or $20,000 whichever is less.