Montana Auto Shop

“Do your homework. LEC is extremely supportive and genuinely wants you to succeed. Take the time to meet with them—you’ll see it’s not as difficult as it might seem.”

In 2021, Matt Sieler decided it was time to combine his love of auto mechanics with his educational background—a Business degree from BYU and a Master’s in Business from the University of Montana—and open his own mechanic shop: Montana Auto Shop.

Having worked in several other shops around town, Matt knew that with dedication and a solid business plan, he could build a successful auto repair business right here in Eureka. However, like many new entrepreneurs, he faced a common challenge: limited business credit. Local banks were willing to meet with him, but the terms often came with higher interest rates than he could comfortably manage.

That’s when Matt learned about the Lincoln Electric Co-op (LEC) Revolving Loan Fund.
“Once I heard about the LEC Revolving Loan, I knew I had a real chance to bring this business to life,” says Matt.

He met in person with LEC’s CFO, Michelle, to ensure he understood the loan requirements.
“I wanted to sit down face-to-face so I could get a clear list of what was needed. Michelle was incredibly helpful and made sure I had everything required to submit a strong application.”

Even with his academic background, this was Matt’s first time launching a business from the ground up.
“I did a lot of research to put my business plan together. It felt like a semester-long project that took me back to my college days,” he says. “I combined my education with business planning software to develop a plan that would stand out when presented to the LEC board of trustees.”

In January 2022, Matt formally presented his business plan and loan application to the LEC board. He was approved the very same day.
“I was thrilled. The loan gave my family and me the breathing room we needed to get the shop up and running. It also allowed me to hire help sooner and start serving customers right away. With the support of LEC’s Revolving Loan Fund, my business is at least two years ahead of where it would have been if LEC hadn’t offered these loans and has allowed us to be a full-scale auto mechanic shop supporting the Eureka community. It’s been a real blessing for both my family and the business.”

When asked what advice he would give to other local business owners interested in the LEC Revolving Loan Fund, Matt says:
“Do your homework. LEC is extremely supportive and genuinely wants you to succeed. Take the time to meet with them—you’ll see it’s not as difficult as it might seem.”

Today, Montana Auto Shop is open and serving customers at 132 Pinson Ln, Eureka, MT 59917.

Fosters Fitness

“We built Fosters Fitness with the strength of the community and support from our loved ones, our church, and our faith in God. Lincoln Electric’s Revolving Loan carried us across the finish line and allowed us to open our doors to the communities we serve.”

In 2015, Katie and Seth Foster opened the doors to Fosters Fitness, a small gym in the heart of Eureka, Montana. Their passion for fitness and community quickly transformed the space into a hub for locals, filling it with the energy and dedication of people from all walks of life. But as the gym thrived, Katie and Seth realized they had outgrown their original space. They dreamed of a larger gym—one that could serve even more of their growing community.

In 2021, they took a leap forward, purchasing property from the local church and securing a construction loan from Glacier Bank to make their dream a reality. Yet, as the project neared completion, they found themselves facing a funding gap that could prevent them from acquiring the essential equipment for the gym. That’s when they discovered Lincoln Electric Coop’s Revolving Loan Fund, a flexible, low-interest loan designed to support small businesses. Lincoln Electric Coop made the process simple and efficient, allowing the Fosters to secure the low-interest funds needed to purchase the equipment that would transform their space into a fully operational fitness center.

With teamwork and support from Glacier Bank, Lincoln Electric Coop, and their community, Fosters Fitness officially opened its new doors in July 2022. Today, the gym stands as a testament to Katie and Seth’s dedication and the strength of the community that rallied around them. Reflecting on their journey, the Fosters wholeheartedly recommend Lincoln Electric Coop’s Revolving Loan Fund to other small business owners in Eureka who need a little extra help bringing their dreams to life.