Significant federal funds flowed into Montana—and all other states—during the COVID-19 pandemic under the American Rescue Plan Act (ARPA), with much of the funding aimed at stabilizing businesses during forced closures and worker shortages. A recent deep dive into those programs exposed some surprising and disturbing information—information that demands broader public awareness.
One of those programs was the Down Payment Assistance Loan Program, which funneled $83,725,989.45 to approximately 160 businesses in Montana through low-interest loans. The records show that a dozen or so of those businesses were in Yellowstone County. They also show that three of those loans went to businesses associated with one state legislator, Republican Representative Llew Jones of Conrad. Besides raising questions about conflicts of interest, the total of the three loans put Jones over what the Montana ARPA website states is a cap of $3 million in allowable loans to any one recipient.
Besides being a state legislator, Jones was serving on the commission formed to oversee the disbursement of ARPA loans: the Economic Transformation and Stabilization and Workforce Development Advisory Commission. The three Jones-affiliated businesses were granted a total of $4.365 million in loans from the Montana Down Payment Assistance Loan Program.
Not only were members of the oversight commission committed to having no “conflict of interest” in the loans granted, but the cap on loans was $3 million. It would appear that Jones violated both stipulations, although whether the loan cap was meant to apply to one loan or loans in aggregate is not entirely clear. Jones was contacted for comment regarding this article, but no reply had been received as of press time.
A review of the list of loan recipients reveals Jones was the only person actively serving as a state government office holder to receive a loan, although two other officials who had previously held state offices did receive Down Payment loans: former Democratic Governor Steve Bullock and former Republican House Majority Leader Ronald Ehli of Hamilton.
Bullock, who was no longer governor, was awarded a loan for $370,500 for his business, Third Term, LLC.
Rep. Ehli received loans totaling $655,544 for two businesses: EASI Properties LLC and EASI, Inc., of which his wife, Laura Ehli, was co-owner.
Republican Llew Jones has served multiple terms in both the Montana House and Senate since 2005 and chaired the State Budget Committee. Jones was also one of the principal architects of House Bill 632, which established the structure under which Montana distributed a total of roughly $2 billion in federal ARPA funds in 2021. House Bill 632 established that the Montana Board of Investments would administer the ARPA loan programs.
Jones and family members received loans through Rounds 3 and 4 of the program. The loans went to three limited liability companies totaling $4.365 million which, according to loan tables published by the Board of Investments, included $3 million to Frontline Ag Solutions LLC; $105,000 to Dealco LLC; and $1.26 million to an entity listed as “Havre Ford” and “CFRE, LLC.”
Jones is identified as a member or manager in Montana Secretary of State filings associated with all three entities. His wife, Carole Jones, is listed as the registered agent for two of them. They share a common address in Conrad.
In accepting an appointment to the Economic Transformation and Stabilization and Workforce Development Advisory Commission, members were required to sign a form that made clear that commission members are prohibited from participating “in the selection, award, or administration of a contract supported by a federal award if they have a real or apparent conflict of interest.”
The document goes on to state, “Such a conflict of interest arises when a commissioner, any member of his or her immediate family, his or her partner, or an organization which employs or is about to employ any such individuals… has a financial or other interest in or tangible personal benefit from an entity considered for a contract.”
Since commission members were presented with the document for their signature at the onset of conducting oversight, it is assumed Jones signed the document. (A public information request for a copy of the “conflict of interest” form has been submitted.)
Another member of the commission, Democratic Senator Ryan Lynch of Butte, said he signed such a document. He also said he was never made aware there were any loans made about which anyone claimed a conflict of interest, or that Jones received a loan. He said it is “alarming” that a member of the commission could have received a loan without disclosing a conflict of interest.
The form that the commissioners were required to sign also stated that “commissioners are responsible for promptly updating this form if new conflicts arise or become known.”
It is unclear whether Jones recused himself from any commission decisions related to the program or its recipients. Federal Uniform Guidance at 2 CFR § 200.112 requires federal award recipients to establish conflict-of-interest policies and to disclose potential conflicts in writing. Final Treasury rules on ARPA reinforce this requirement.
Republican Senator Carl Glimm, Kila, who was also a member of the Economic Transformation and Stabilization and Workforce Development Advisory Commission, said he was unaware of any “conflict of interest” claim or that businesses affiliated with Jones received loans. He commented that it was possible that “if you knew what was going on, you could get a loan.”
“In any regard,” he said, “it doesn’t pass the smell test… it should be very concerning.”
It is also unclear whether the Board of Investments, or its executive director, was aware of the overlapping ownership across the three recipient entities when it approved the loans.
Jones’s first loan appeared in Round 3 of the program for a business called Frontline Ag Solutions LLC, which appeared on the recipient list with a loan of $3 million. The application listed James Moodie as the agent.
Jones has never hidden his connection to that business. His campaign website states he is “a partner in Frontline Ag Solutions, our local John Deere dealership.” According to the 2025 annual report filed with the Montana Secretary of State, Frontline Ag Solutions LLC is a domestic limited liability company whose members are Moodie Implement Company and Frontline Ag LLC. The annual report for Frontline Ag LLC, in turn, lists Llewelyn Jones of Conrad among its members.
In Round 4, a second Jones-connected entity appeared. Dealco LLC received a loan of $105,000, with Carole Jones listed as the agent. The 2024 Secretary of State filing identifies Dealco’s managers as Carole A. Jones and Llewelyn E. Jones, both at the same Conrad address.
With this loan, entities connected to Jones had allegedly received $3.105 million in aggregate—exceeding the program’s stated $3 million per-person cap by $105,000. The program’s Round 4 terms state: “No person or entity may apply for more than $3,000,000 aggregate, including Round 1, 2 & 3 funds.” Whether the use of separate LLCs with overlapping ownership constitutes a single “person or entity” under the program’s rules is a question the terms do not explicitly resolve.
A third entity also appeared in Round 4. The loan table lists “Havre Ford” and “CFRE, LLC” as the recipient of $1.26 million. State corporate filings fill in what the loan records allegedly omit. According to the 2024 annual report for CFRE LLC, filed with the Montana Secretary of State, the entity’s members are Llewelyn Jones, Aaron Jones, Carole Jones, Daniel Jones, and Katie Jones—all at Conrad addresses. The registered agent is Carole A. Jones. The mailing address matches the Dealco and Frontline Ag filings.
On Oct. 16, 2025, Performance Brokerage Services issued a press release announcing the sale of the Havre Ford dealership to Aaron Jones, who the release noted also owns and operates Courtesy Ford in Conrad. Aaron Jones is listed as a member of CFRE LLC in the Secretary of State filing. The loan preceded the announced sale by approximately one year.
The pattern of government funding flowing to Rep. Jones goes back further. In 2010, the Flathead Beacon reported that Jones used his position on the House Appropriations Committee to propose a $475,000 amendment for a biomass energy study shortly before investing in a company that received those funds. Jones defended the arrangement at the time, saying the company won the grant on its merits through a competitive bid process.
President Biden signed the American Rescue Plan Act on March 11, 2021, authorizing $1.9 trillion in federal COVID-19 recovery spending. Montana moved quickly. HB 632, sponsored by Rep. Frank Garner of Kalispell and carried through the legislature with Jones’s support as House Appropriations chair, passed the House on a wide bipartisan margin on March 30, 2021, and was signed into law.
The bill appropriated funds for infrastructure, broadband, economic development, and health programs and created the four advisory commissions to review applications and recommend how the money should be spent. Jones was appointed to the economic transformation commission, whose members included senior figures from both the executive and legislative branches.
The state ARPA website describes the commission’s role: HB 632 created it “to oversee programs that are developed, and proposals that are reviewed and recommended by the Department of Commerce.” By statute, proposals recommended by Commerce had to be reviewed by the commission, which then recommended grants to the governor.
