Business

Montana business lender expands Idaho presence

Statesman staff

A business lender based in Missoula, Mont., hopes to expand its Idaho loan portfolio. The lender, formerly Montana Community Development Corporation, changed its name this month to Montana & Idaho CDC to reflect its growing business here. The nonprofit lender expects that more than half of its 2016 lending will go to Idaho businesses, according to a release.

Since 2015, the lender issued loans to 20 Treasure Valley businesses totaling $2 million, according to a spokesman, including the following Boise companies:

  • Tin Roof Tacos at 115 S. Broadway Ave.
  • Idaho iRepair at 734 W. Broad St.
  • Downtown Hound at 1021 S. Lusk St.

Tin Roof Tacos co-owner Sandy Broun was among the first Idahoans to receive a loan from the lender, the release said.

“The banker we were workign with referred us to Montana & Idaho CDC, and we got our loan,” she said.”Now, we have 25 employees and a thriving taco shop.”

The lender has also completed five New Market Tax Credit projects in Idaho totalling $93 million. Two of those loans were issued to companies in Rexburg, which companies in Shelley, Pocatello and Coeur d’Alene also received loans.

One of those was Hemming Cedars in Rexburg, a 220,000 multi-use project with student apartments, retail and office space.

The lender operates a second Montana office in Bozeman.

  Comments