Tourism Development and Enhancement Revolving Loan Fund

The 2023 Montana Legislature directed Commerce to facilitate the creation of Tourism-focused revolving loan funds by enacting Section 1(d) of SB 540.

Commerce will award Program funds as grants to eligible applicant Economic Development Organizations (“EDOs”), which must use those funds to create new revolving loan funds that support Montana’s Tourism economy.

The purpose of the Program is to create a public-private partnership between the State of Montana and local Economic Development Organizations. The sole purpose of that public-private partnership is to support Montana’s tourism economy.

Through supporting Tourism development and enhancement, the Program will: (a) create good-paying jobs for Montana residents; (b) promote long-term, stable economic growth in Montana’s Tourism economy; (c) retain or expand existing Tourism-related businesses; (d) provide a better life for future generations through greater economic growth and prosperity in Montana; and (e) encourage workforce development in Montana’s Tourism economy.

Commerce’s Destination MT Division (“Destination MT”) will administer the Program in accordance with these Guidelines.

Resources for Applicants: