BOZEMAN, Mont. – First Security Bank of Bozeman has announced a sponsorship of MoFi (formerly Montana & Idaho CDC). First Security’s support will allow MoFi to expand the technical assistance it provides to help low-income and other underserved, un-bankable people build strong, thriving and bankable businesses.
“We work with entrepreneurs and small businesses who are generally unable to get financing from a bank – we call them ‘nearly bankable’ because they often fall just outside the parameters of what a bank is comfortable doing,” said Dave Glaser, President of MoFi. “We have a slightly more flexible set of underwriting standards, and are able to help these businesses not only by providing a loan, but by providing them support and advice as they start or grow their businesses.”
Support can come in the form of consulting on business plans, reviewing financial projections, evaluating marketing strategies and assessing growth opportunities.
“First Security Bank is proud to support MoFi’s great work in not only financing, but helping small businesses with all of the those other business challenges that are so crucial to success – setting up best practices for accounting, marketing and operations,” said Kalli Ryti, Chief Lending Officer at First Security Bank of Bozeman. “They are a great partner to their small-business clients and work tirelessly with them to help get them on their feet.”
“Our organizations share a common goal of helping Montanans build thriving businesses that strengthen our economy. We’re humbled and grateful for this additional show of support from First Security Bank, which allows us to expand our technical assistance services to provide these businesses with the tools they need be successful,” Glaser added.
About MoFi’s Small Business Loans
Loans range from $1,000 to $2,000,000. In 2017, MoFi loaned over $11 million to 68 entrepreneurs and small-business owners, including several in the Bozeman area. Clients often are referred to MoFi if they are unable to obtain traditional bank financing.
For more information about First Security Bank of Bozeman, visit https://www.ourbank.com/.