Prospera Receives $730,000 for Affordable Housing Loan Fund for Gallatin County

BOZEMAN – Prospera has been awarded $730,000 from Gallatin County to create a new loan fund to support affordable housing projects in Gallatin County. Funds come from the 2021 American Rescue Plan Act and the State Local Fiscal Recovery Funds. This partnership builds on a history of collaboration between Gallatin County and Prospera to address local housing needs. The new loan fund will expand local financial resources for future affordable housing projects, reinforcing the shared commitment to creating sustainable housing solutions in Gallatin County.

“Gallatin County is tackling the housing crisis on multiple fronts, addressing the soaring costs of rent and homeownership. These efforts rely on strong partnerships with public entities, private groups, and nonprofit organizations. A key focus of our housing strategy is securing and sustaining existing affordable housing units,” said Gallatin County Commissioner Jennifer Boyer. “We’re thrilled to collaborate with Prospera on their revolving loan fund, which provides the flexibility and readiness needed to support critical housing projects like Stan’s Garden and the Belgrade Mobile Home Park as they emerge. In a fast-moving market, this fund can be the difference between preserving affordable housing and losing it forever. It’s an essential tool for seizing opportunities that may only come once.”

Paul Reichert, Prospera’s Executive Director said, “We are excited to continue supporting County goals to support affordable housing and having additional loan funds available is an important way to support meeting this critical need. Having this tool available is an important step in the right direction.”

To learn more about this loan fund please contact Paul Reichert at Prospera at 406-587-3113 or email at preichert@prosperamt.org.

About Prospera: Founded in 1985, Prospera is a non-profit that helps businesses and communities find their pathway to success, acting as the navigator, problem solver, and catalyst for a strong Montana economy. Prospera offers no-cost business advising and training, access to capital and loan financing, community development, and professional networking.