County Gives Furniture Business Loan to Expand
www.yahoo.com 2007-11-29
A local furniture manufacturer asked for and received approval from the Gallatin County Commission on Tuesday for a hefty loan to expand its operations and hire more local workers.
Rocky Mountain Furniture, a nationally recognized manufacturer of custom, high-end furniture, asked the commission to recommend approval of a $250,000 federal Community Development Block Grant loan.
The loan will help the company, based on North Seventh Avenue in Bozeman, expand its business to a bigger plant at Four Corners and hire more workers, said Marc Lien, co-owner of the company.
Lien said the company is so busy it has been forced to subcontract work to other manufacturers to keep up with demand. The loan will allow the company to boost productivity beyond the limits imposed by its current manufacturing plant, and provide needed jobs in the valley, Lien said.
“Basically we started the company in a garage, and now we employ 46 employees,” Lien said. “If this loan is approved we get new equipment to increase our efficiencies and production levels, and pursue more business in the future with new marketing efforts.”
Lien said the company plans to hire at least 10 new employees over the next two years if the loan goes through.
Larry Watson, the county's grants and projects administrator, said the company is an ideal target for the loan. One key criterion for this type of loan is that the company will promise to create one new job for low-income and middle-income workers for every $25,000 borrowed.
“Those are jobs we look at to provide opportunities for upward mobility, that provide benefits and that are jobs created by a company that has a proven track record in Gallatin County,” Watson said.
Commissioners praised the company, and voted unanimously to recommend the loan be approved.
(editor : jane)
