Missoula-based lending firm names new president, CEO

(Missoula Current) A nonprofit lending organization based in Missoula has appointed one of its own to serve as its new president and CEO.

Heidi DeArment has been with MoFi for two decades and will now head the lending firm.

“I’m excited to take on the role of President and CEO and guide MoFi to continued success as it nears its fourth decade of providing equitable access to capital to underserved entrepreneurs,” DeArment said in a statement.

DeArment joined the MoFi Board of Directors in 2005 and the staff in 2007. She became vice president in 2010.

The organization has provided more than $1 billion in capital across the West to help invest in low-income neighborhoods. DeArment played a key role in developing MoFi's lending strategies, New Markets Tax Credits and HomeNow programs.

As DeArment steps into the leadership role, MoFi is also realigning its senior management structure to better meet its five-year strategic plan.

“Along with our partners, we’ve seen time and again how that access to capital has the power to transform not just individuals’ lives, but entire communities,” said DeArment. “We look forward to reinforcing existing relationships and building new ones for years to come.”