Small Business Incubator Reaches Out To Community Facilities - ABC FOX Montana Local News, Weather, Sports KTMF | KWYB

Small Business Incubator Reaches Out To Community Facilities

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MISSOULA -

The Montana Community Development Corporation, a group that helps out nearly bankable businesses, does something it's never done before.

The CDC just released the 2013 annual report with all the details.

Usually the CDC works with businesses that can't get a bank loan. Since they started back in 1986, the CDC has lent over $213 million.

For the first time, they've started working with community facilities like the Poverello Center.

"We saw a need across Montana and Idaho," explained Dave Glaser, the president of the Montana CDC.

Last year, the CDC helped get 28 loans for rural businesses. That's over $5 million. The whole idea is to give small towns an economic shot in the arm.

"We have a fabulous job here," said Glaser, "Our organization gets to work with communities across Montana and Idaho to assess the needs of the community and help bring financial resources to make them happen."

In 2013, the CDC worked with a distillery in Butte and a montessori school in Missoula, among others. In the mix for the first time, though, are community facilities. Glaser says the organization is changing, and they're trying to touch more people's lives. They estimate that the three community facilities they helped get funding last year serve about 12,660 low income people every year. One of the chosen community agencies is a swimming center in Polson, Mission Valley Aquatics. Glaser says helping this kind of nonprofit versus helping a for-profit venture can have similar end results, but even greater.

"When you start to look at community facilities like the Poverello Center, the economic impact is ever larger so we're talking about more jobs. We're talking about more economic impact," said Glaser.

Places like the Poverello employee dozens of people, while some of the small businesses the CDC helps employee a fraction of that, not to mention the shops that crop up to serve people coming to such a community facility.

The CDC's help comes at a great time, in the middle of a major expansion project for the Poverello Center.

Glaser says they'll continue to consider community facilities as potential future clients.

They estimate that their work last year created and kept more than 200 jobs.

The CDC relies on donations from big corporations and individuals. In fact, they got a record breaking $1.3 million donation in 2007 from a former physician who used to work in Saint Ignatius.

 

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