Bullock announces new loan deferment program for Montana businesses

Last week, Governor Steve Bullock announced the creation of a loan deferment program to assist Montana businesses impacted by COVID-19.

The Montana Loan Deferment Program will allow businesses and other entities to defer payments on existing loans for six to 12 months and free up a significant amount of otherwise dedicated capital for the borrower to leverage on a monthly basis. If a borrower is approved for the program, Coronavirus relief funds will be used to provide payments to participating lenders to cover interest payments for six-to-twelve months, up to 6 percent or $150, 000.

“Through...