Three weeks from now 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.
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 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 traditional financing.
When David came to visit us at Montana CDC, things fell into place. With its new designation as an SBA 7(a) Community Advantage lender, Montana CDC was able to provide David the financing he needed to keep his business on the path to success. Like other growing businesses, Bitterroot Gymnastics showed solid profits and great income potential, but was light on collateral and therefore did not qualify for traditional financing. Without the SBA program, David's dreams of expansion would not have been possible. Instead, David is the first business owner in Montana and the entire SBA Region VIII to use the Community Advantage program to keep his business growing and create new jobs in a low-income area.
"It was discouraging when we knew bank financing was not feasible for our expansion," said David Stark, owner of Bitterroot Gymnastics. "Working with Montana CDC was a miracle for us. The staff are all kind, thoughtful and authentically want us to succeed. Had we not found Montana CDC, we would still be feeling stuck with no way forward, and we thank them for opening the door for opportunity."