Revolving Loan Fund Awarded To Feiler
December 14, 2022 | View PDF
Richland Economic Development Corp is pleased to announce that the Revolving Loan Fund (RLF) committee has awarded its 19th loan for the purchase of a building in Sidney. Jamey Feiler was approved for a loan to purchase the old "Mitchell Oilfield" office building.
Feiler completed an application in partnership with her lead lender, Chad Molden, Stockman Bank, Sidney, and presented this project to the RLF committee for review. The funding request was to purchase the building and equipment.
Feiler started working in the oilfield insulation industry in 2011. She worked for companies such as Miller Insulation, Kinder Morgan, and Oneok, before taking a division manager position for Gemini Resources. PCS Insulation is a Sidney MT based company specializing in the manufacturing and sale of removable insulated blankets for oilfield sites as well as windshield protection for Ag equipment, heavy equipment, and equipment transportation.
The RLF committee is pleased to assist Feiler in this business venture. The intent of the RLF is to offer an additional tool to support new business and business expansion projects. Chad Molden states, "We are so pleased to assist a new and emerging manufacturing business to grow in Sidney, MT. The use of the RLF funds enabled Stockman Bank to partner with REDC to leverage our traditional lending programs."
Richland Economic Development Corp encourages existing businesses and new business startup projects to consider the RLF as a resource. The RLF loan pool of $1,000,000 is not free money, but an investment made by the Richland County Commissioners, to assist in the development of business in our economy. The application and review process are achievable and done in conjunction with the area financial institutions in Richland County.
If you or someone you know is thinking of expanding or launching a new business in Richland County, contact any of the local financial institutions or Richland Economic Development Corp today for an application!