Business Financing

MikeSparrCEORoundtableOct2015 (600x392)

Montana Business Financing Resources

 

Click link to download PDF > Montana Business Financing Resources

Click to download PDF of Montana Business Financing Resources Guide

Access to capital is one of the biggest barriers to growth for Montana’s high tech and manufacturing firms. As we learned from the Alliance’s CEO Roundtable on financing business growth, finding money isn’t always easy and often involves using multiple resources over the life of a company.

Navigating the vast array of financing options can be exhausting. Some resources are not well-known, others are so complex that only domain experts know how to use them. If you’re an entrepreneur without a business background, it’s hard to know where to start. Even if you’re business savvy, you can waste a lot of time chasing capital. To help light the way, CEOs at the roundtable suggested the Alliance compile a list of tools for companies pursuing financing in Montana. 

Mike Sparr (pictured speaking at center above), whose quest to fund his company, Goomzee, was one of the case studies featured at the roundtable, volunteered to capture his hard-won knowledge in an easy-to-follow chart. Sparr’s insider tips make this detailed guide especially useful, whether you run a startup or a $50 million firm.

Alliance executive director Christina Henderson added more resources, including names of people and organizations who can help you and their contact information. Alliance Board Chair and Founder of RightNow Technologies, Greg Gianforte, offered some insights on Initial Public Offerings.

To make corrections or additions to this resource list, please contact Christina, director@mthightech.org or 406-552-9157. As you can see from the table of contents, there must be 50 ways to fund your company in Montana.

Click link to download PDF > Montana Business Financing Resources

Table of Contents:

  1. Self-Financing 1-2
    1. Personal Sales. 1
    2. Pre-sales/Sales. 1
    3. Consulting/Contracting. 1
    4. Credit Card. 1
    5. Existing Paycheck. 2
  2. Personal network. 2
    1. Friends, Family, Fools. 2
    2. Personal Loan. 2
  3. Outside Resources. 3
    1. Business Incubators. 3
      1. MonTEC. 3
      2. Blackstone LaunchPad. 3
      3. National Accelerators. 3
    2. Business Plan or Pitch Competition. 4
      1. Ruffatto Business Startup Challenge. 4
      2. Startup Weekends. 4
      3. Blackstone LaunchPad Demo Day. 4
      4. SBDC Shark Tank. 4
    3. Crowdfunding. 5
      1. Rewards Crowdfunding (Kickstarter, etc.). 5
      2. Equity Crowdfunding (JOBS Act) . 5
    4. Angel Investors. 6-8
      1. Individual Angel Investors. 6
      2. Attorneys. 6
      3. Frontier Fund II. 6
      4. Goodworks Ventures. 6
      5. MEP Angel Network. 6
      6. Keiretsu Forum. 6
    5. Business Line of Credit. 7
    6. Montana Banks. 7
    7. Small Business Loan. 8-9
      1. Montana Banks, Goodworks Ventures. 8
      2. Economic Developers (NRMEDD, MEP, MEDA). 8
      3. New Market Credits. 8
      4. MTCDC. 9
      5. MT Facility Finance Authority. 9
      6. SBA Loan Guarantee 7(a) and 504. 9
      7. USDA Rural Development Business and Industry. 9
      8. MicroBusiness Finance. 9
    8. Revolving Loan Funds. 10
      1. Bootstrap Montana. 10
      2. Community Revolving Loan Funds. 10
    9. Grants. 11-12
      1. MTIP (technology R&D). 11
      2. SBIR/STTR (technology development), Marti Elder. 11
      3. Big Sky Trust Fund (training new employees). 11
      4. Workforce Training Grant (training new employees). 12
      5. International Marketing Assistance Program. 12
      6. Business Resources Division, Dept. of Commerce. 12
    10. Strategic Investment. 12
    11. Licensing Intellectual Property. 13
      1. IP Attorneys. 13
      2. University Technology Transfer Offices. 13
    12. Venture Capital. 14-16
      1. Montana-based (Next Frontier Capital). 14
      2. Out of State. 14-16
      3. Attorneys. 16
    13. Venture Financing. 17
    14. Initial Public Offering (IPO) or Acquisition. 17-18
      1. OTC/Pink Sheets. 17
      2. Public Market. 18
      3. Attorneys and M&A Advisors. 18

 

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