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An Arlee philanthropist and retired physician donated $1.42 million to the Montana Community Development Corporation in Missoula, the corporation announced Monday in a news release.

Mary Stranahan’s gift will be used to kick off a $10 million fundraising campaign to grow MCDC’s loan fund to $15 million in order to continue providing business loans and consulting in Montana.

“Gifts like these are invested directly into Montana businesses,” said MCDC executive director Rosalie Cates in a statement. “This is just the start n Mary and MCDC will be hitting the road to talk to more Montanans about entrepreneurial philanthropy.”

In the MCDC statement, Sen. Max Baucus commended Stranahan, whose donation was announced over the weekend at his Montana Economic Development Summit 2007 in Butte.

“I applaud Mary Stranahan for the vision and the scope of her philanthropy. In particular, I commend her commitment to building rural entrepreneurs as a core philanthropic strategy,” said Baucus, a Montana democrat.

Read more in Tuesday’s Missoulian.

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