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Success Stories

Bitterroot Gymnastics Transformed with Help of MCDC and SBA

 

This is a story about being nimble.

Later this week an industrial warehouse in Missoula, which has been completely transformed, will reopen as Bitterroot Gymnastics – providing children and families throughout our community with a safe space to learn and practice.

While the concept of a big space for a gymnastics school isn’t necessarily innovative, the path to making it happen certainly has been.

Owner David Stark had done everything right.  As a former student and then employee of the company, he already had extensive knowledge of the gym when he purchased it in 2005.  Then, as an owner, he had worked hard to save costs, provide great service, and grow the business.  Now that his work was paying off and his business was expanding, he simply needed more space.  But he didn’t have the capital to expand.  He knew that his business showed solid profits and great income potential, but he didn’t have strong collateral and so wouldn’t qualify for... Read More

Montana Small Business Benefits from Small Business Jobs Act

As part of the Small Business Jobs Act of 2010, the SBA provided temporary authority allowing refinance of existing eligible debt under the SBA 504 loan program.  The program, administered through Certified Development Companies (CDC), typically finances acquisition of owner occupied commercial property and large equipment needs.  In an effort to stimulate the economy, the loan program can now temporarily refinance certain eligible debt on property, without additional funds being borrowed to expand a facility. 

Montana Community Finance Corporation, in partnership with Zions First National Bank of Idaho Falls, Idaho, obtained SBA approval under this temporary authority, and funded the first such loan made in the State of Montana since this change was made to the program.

Derek Ence, owner of Ence Properties LLC dba Hotel Developers Missoula Staybridge, said “I think the SBA helping us small business owners refinance our property in this difficult lending environment... Read More

A Bowl of Ice Cream, a Dream, and the SBA

 The love of ice cream and the desire to get into business is what drove Brian and Kelly Ackerman to purchase The Parrot Confectionery, a Helena Landmark.

 The Parrot is currently celebrating it’s 87th year in Helena and is saying goodbye to longtime owners the Duensing’s.  The Parrot has been part of the Duensing family for over half a century and they are now ready to turn over the business to new owners the Ackerman’s.

 Brian and Kelly were looking for a way to return to their home state of Montana, when discussing over a bowl of ice cream in their home in Maryland, brought them to the idea of going into the candy and ice cream business.  And that was the beginning of the journey that brought the Ackerman’s home to Montana and into the world of candy making.

 The Ackerman’s were able to purchase The Parrot only by way of the U.S. Small Business Administration (SBA).  When Brian first contacted lenders looking for financing it was difficult if not impossible... Read More

Business Brings Manufacturing and Jobs to Flathead Valley

Fifteen years ago, Jason Sonju was pounding out dents at his father’s auto body repair shop. Today, he’s director of programming for the family-owned business, Sonju Industrial Inc., which has acquired top-dollar defense contracts with some of the largest aerospace and defense corporations in the world- Boeing, Lockheed Martin, Raytheon and Northrop Grumman.

From collision repair to laser-guided missiles and assault rifles, the company has expanded steadily through the years, seizing on one opportunity after another. Sonju Industrial’s aggressive search for new business ventures has allowed it to expand through the recession, adapting to the changing political climes and mounting a firm reputation in the world of defense contracting.

The growth, while steady, has not been without its obstacles.

When Congress stopped funding of the F-22 Raptor in early 2009, for example, Sonju Industrial’s contract with Boeing was jeopardized. Although Lockheed-... Read More

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