Northwest Montana News

A task force made up of various private and nonprofit entities is tackling the economic challenges the COVID-19 crisis has created for Missoula businesses.

Titled the Missoula County Economic Recovery Task Force, the partnership currently has 17 members and is intent on not only addressing the current hardships but also working toward economic resurgence after the crisis has declined, according to the Missoula Current.

Grant Kier, CEO of Missoula Economic Partnership, said there are a variety of resources available to help small businesses make it through. The goal of the task force is to identify the needs in the community and help connect people to the resources coming available.

Those efforts will involve both seeking to improve access to resources for those in the Missoula community and helping to spread the word about what is available.

In addition to the organizations already involved, the task force has sought involvement from the University of Montana, according to the report. The university's involvement includes the group’s Business Emergency Assistance and Recovery initiative (BEAR).

“The BEAR program is organizing navigators right now that can help advise small businesses that don’t already have established professional support that can help them navigate this process and the benefits and resources and relief coming out of the CARES Act,” said Kier, according to the Current.

With those resources already in play and those coming available – such as the Paycheck Protection Program and what the SBA is releasing through its economic injury disaster loans – Keir said he feels businesses will be able to come out alright on the other side of the crisis.

“We had banks putting cash into business owners’ hands Sunday afternoon, based on SBA loan approval,” said Kier, per the Current. “By the close of business on Monday, Missoula banks alone had submitted over 1,100 applications on behalf of our community businesses, totaling almost $200 million.”