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MSU Extension’s Park Local Development Corporation highlights small‑business revolving loan fund and free technical assistance
Summary
A representative of MSU Extension outlined how a city–county revolving loan fund administered by the Park Local Development Corporation helps entrepreneurs obtain loans and business counseling.
Trent Blustrate, an extension agent with Montana State University who manages the local nonprofit Park Local Development Corporation, gave a short presentation to the Livingston City Commission about a revolving loan fund the organization administers for the city and county.
What he told the commission: Blustrate said the fund originated from a federal CDBG grant in the early 2000s and is intended to provide loans to small or new businesses that cannot obtain traditional bank financing. Since the position and oversight arrangement began in 2023, Blustrate said Park Local has made loans to more than five businesses in the city and helped retain more than 15 jobs. He described examples including financing ownership transitions and helping business founders who lack multi‑year tax histories.
Other services: Park Local offers one‑on‑one consultations (ten technical focus areas including marketing and financial management), periodic classes such as QuickBooks and social media training, and a year‑long leadership program. Blustrate said the group is finalizing a subrecipient agreement with the city and county that will formalize how Park Local manages and reports on fund activity.
Why it matters: Small local revolving funds can preserve businesses, support transitions of ownership, and help entrepreneurs grow without sole reliance on bank credit. Blustrate told the commission the fund had been only about 5% deployed when he started work and is now over 50% deployed, indicating greater utilization.
What’s next: Staff said the subrecipient agreement formalizing the city’s relationship with Park Local will return to the commission for approval. The commission thanked Blustrate and encouraged publicizing classes and outreach to local business owners.
