The document provides information about the Great Falls Development Authority (GFDA) in Great Falls, Montana. It summarizes that GFDA is a non-profit economic development organization that provides financing to businesses through various loan programs. It has provided over $194 million in financing to 117 businesses over time, with low delinquency and default rates. GFDA aims to promote business growth, job creation, and economic diversification in its 13-county region through financing and various economic development programs.

1. Growth
Diversification
High Wage Jobs
The first
Accredited Economic Development Organization
in the Rocky Mountain Region

2. » 13 county 225,000 population
» Rocky mountain front
» Great Falls of Missouri River
» 44,000 square miles
» Large job loss in late 1970’s
» No job growth in 1980’s/1990’s
» Agricultural region
» USAF missile base
Great Falls, Montana

3. » 13 county 225,000 population
trade area
» Rocky Mountain Front
» Great Falls of Missouri River
» 44,000 square miles
» Urban/rural agricultural region
» USAF missile base
» Large job loss in late 1970’s
» No job growth in 1980’s/1990’s
» Wages 72% of national average
Great Falls, Montana

4. Great Falls Development Authority
» 501 (c) 3 charitable non-profit corporation
» Public/private partnership – 80% private
» 9 person staff team growing to 10
» Community Development Financial Institution (CDFI)
» $11.7 million in loan capital
» Goal to increase loan capital to $15 million in 3 years
» High Plains Financial affiliate SBA 504 lender
 501 (c) 4 non-profit corporation
 Staffed by GFDA
 Separate Board of Directors

6. Great Falls Development Authority
» Comprehensive economic development
 Business retention and expansion
 Entrepreneurship
 Business attraction
 Downtown, riverfront and commercial corridor redevelopment
 Heavy industrial rail-served park
 Workforce
 Community teaming
» Host Small Business Development Center (SBDC)
» Host Procurement Technical Assistance Center (PTAC)
» Host Manufacturing Extension Center

7. Helping Local Businesses Grow

8. GFDA Lending Track Record
» Closed 117 loans
» Our Capital $42,067,238 22%
» Private Capital $152,540,067 79%
» Total Investment $194,607,305
» Principal Write-off $248,570 0.59%
» Delinquent Loans 0

9. 4 Loan Products
» Gap subordinate financing
 Average 18% of deal
 Up to 25 year amortization; typically 5-7 year balloon
» Bridge subordinate financing
 Average 16% of deal
 Typically interest only with 2-3 year balloon
» Brownfield Cleanup
 Up to 80% of remediation costs
 Low interest under 3%; can be long-term
» SBA 504 Real Advantage
 Low equity, low fixed interest long term fixed national debenture

10. Coaching Businesses to Success

11. Lending
» Deployment Goal: Average 85%
» Borrowers
 Business, commercial real estate, multi-family, non-profit
» Pricing 1-2% above participating bank rate
 Internally buy-down rate if necessary for high impact deals
» Risk commensurate with mission impact
 Willing to take greater risk in return for higher mission impact

12. Montana Petroleum Board Bridge

13. Bridge Loans a Great Opportunity
» Bridge loans now outnumber more traditional gap
financing loans in our lending activity
» Short time span revolves your limited funds more quickly
» New Market Tax Credits
» Historic Tax Credits
» Tax Increment Financing bond
» Permanent financing such as Freddie Mac
» State brownfield cleanup reimbursement
» Capital fundraising

14. Historic Tax Credit Bridge

16. Sources of Loan Capital
» Economic Development Administration (EDA)
» Community Development Block Grant (CDBG)
» USDA Intermediary Relending Program (IRP)
» SBA 504
» EPA Brownfield
» Community Development Financial Institution (CDFI)
» State Small Business Credit Initiative (SSBCI)
» City Tax Increment Financing
» State MicroBusiness
» Multi-Bank Line of Credit
» Sell Loan Participations

17. Financing Historic Redevelopment
Montana Building, Great Falls

18. Other Financing Used
 Tax Increment Financing
 Montana Economic Development Infrastructure Loans
 Historic Tax Credits
 New Market Tax Credits
 Low Income Housing Tax Credits
 Industrial Bonds
 SBA Community Advantage (7a)
 USDA B & I
 USDA Community Facilities
 And more…

19. TIF Bond
Bridge

20. Demand for Economic Development
Financing Greater Than Ever
» Fewer community banks
 Fewer experienced loan officers in communities
 Centralization of credit decisions
» Stricter bank regulations
» Banks once again tightening credit standards
» Appraisals still coming in short in many areas
» Small business capital needs continue to grow
» Imperfections and discrimination still exist in financing
marketplace

22. 8 Most Important Things in Marketing
Economic Development Loan Funds
» Awareness
» Relationships
» Simplicity
» Reputation
» Partnering
» Diversification
» Creativity
» Celebration

23. Awareness
» Constant marketing
 Earned Media
 Weekly GFDA Top 10 email and social media
 Quarter Index email and social media
 Rack cards
 Speaking opportunities
» Monthly LaunchPoint
» Storytelling
» Entrepreneurial Spirit Tour
» Targeted marketing to populations, geographies & industries

24. Financing Rural Entrepreneurs
Native Life, Browning

25. Storytelling
Pasta Montana

27. Relationships, Relationships
Relationships
» Majority of deals come from referrals
» Face to Face most important
» Develop and maintain referral relationships

28. New Markets Tax Credit Bridge

29. Simplicity
» Simple message marketing
1) We finance parts of deals others can’t
2) We make projects happen that otherwise
wouldn’t
3) CONTACT US
We are you first call, not your last!

30. Financing Entrepreneurial Dreams

31. While Creating Great Places
Mighty Mo
Brewery

32. Reputation
» Your personal and organizational brands are what
people say about you when you’re not there
» Commitment to client and bank service
 Monthly client satisfaction survey
» Earn your reputation every day
» Team pipeline management
 FOLLOW THROUGH

33. Attracting World-Class Companies
ADF International

35. Partnering
» The world is your potential partner
» Cultivate and nurture partnerships
» Leverage your limited resources
» Develop trust and respect
» Weekly lender huddles on difficult deals

36. Partnering with City & State
Centene

37. Partnering with Banks
Avmax

38. Diversification of Loan Capital
» The more tools in your tool chest, the greater diversity of
deals you can do
 Passive real estate projects
 Nonprofit borrowers
» Proposed EDA RLF defederalization

39. Financing Housing Development

40. Talus Apartments

41. Creativity
» Figure out how to use loan capital in new ways
» Persevere on high mission impact financing deals
» Tap into expertise and networks
» Be the deal driver – at the center, not the periphery

42. Fundraising Bridge

43. TIF Reimbursement Bridge

44. Celebration
» Widely celebrate every client success!
» Targeted population events: The Fire Within
» Targeted area events: Downtown Showcase
» Client events and earned media
» Award nominations and celebrations

45. Supporting & Celebrating
Entrepreneurs

46. Supporting & Celebrating
Entrepreneurs

47. Our Next Marketing Steps
» Content-driven marketing effort
» New web site and social media presence
» Social media champions

48. Helping Lots of Companies to Grow

49. Improving our Communities
Flippin’ Family Fun

50. Changing People’s Lives

51. Brett Doney
Great Falls Montana Development Authority
BDoney@GFdevelopment.org