The Montana Department of Commerce is seeking applications for the Indian Equity Fund Small Business Grant to assist start-up or expanding Native American business in Montana.
Donor Name: Montana Department of Commerce
State: Montana
County: Selected Counties
Type of Grant: Grant
Deadline: 10/31/2023
Size of the Grant: $14,000
Details:
This money can be used for a variety of activities such as the purchase of new equipment or the development of a new product line. A total of $320,000 is available to fund Native American businesses in Montana.
Funding Information
Applicants can request a maximum of $14,000 and must demonstrate a reasonable justification for the use of funds.
Eligible Activities
- Funds can be used for a variety of business activities, usually funded by a commercial lender. These activities may include but are not limited to:
- Purchase of land, building, property renovations, signage, lighting, security systems, fencing, displays, organizational systems, and lockable display cases.
- Purchase of assets including interior or exterior furnishings, equipment, and technology.
- Business branding, website (with some limitations), logo design, promotional materials, and some marketing.
- Business inventory, supplies, culinary supplies, tools, and essential materials to produce products or provide services.
- Selected use of working capital for business operations. A very strong case must be made to utilize funds for working capital.
- Existing business owners must show how the funding will support growth in their business either through the development of a new product or service with the existing business strategy.
Eligibility Criteria
The funds are available to enrolled members of Montana’s federally recognized tribes residing in Montana within the exterior boundaries of a Montana Indian Reservation will receive higher consideration over those outside these boundaries. All applicants must provide proof of residency, i.e., registered bill, previous month bill, unless the business is a majority tribal owned entity (51% tribal ownership). Grants will only be allocated to for profit businesses. If funds are allocated, a business bank account is required to receive the funds and must be tracked with a verifiable accounting system, (software or accounting firm). All applications must include documentation of tribal enrollment in the form of a Certified Indian Blood (CIB) Form or tribal ID. An application will be considered incomplete without this information.
For more information, visit Montana Department of Commerce.
