SBA Montana Sees Loan Volume Over Double, Reaching 323 Businesses With Over $186 Million

The Montana District of the U.S. Small Business Administration (SBA) today announced “non-COVID” loan data for fiscal year ended September 30, 2021, showing 323 Montana small businesses received over $186 million. Of these loans, 277 for $158,922,700 were made through SBA’s 7(a) Guaranty Loan Program which provides short- or long-term financing for small business start-up or expansion needs. 46 loans totaling $27,669,000 were made through SBA’s 504 Certified Development Company program, providing long term fixed rates financing for land, buildings, and equipment.

Yellowstone Bank was the leading SBA lender in Montana for FY21, with 52 loans totaling nearly $28.5 million followed closely by Glacier Bank with 46 loans. Stockman Bank, Bank of Bridger, Capital Matrix, Dakota Business Lending, Wells Fargo, Three Rivers Bank, Big Sky Economic Development and Valley Bank of Ronan round out the top 10.

Restaurants (full service/limited service), Landscaping Services, and General Automotive Repair were among the most frequently financed businesses during Fiscal Year 2021; with the largest dollar volume of SBA loans financing going to restaurants (food/beverage services). 48 loans totaling $18,516,300 were made to women-owned businesses, 13 loans totaling $2,581,300 were made to veterans, and 22 loans totaling $6,271,400 were made to minority business owners. 101 loans for over $41 million were made to new businesses.

“Montana is not only one of the greatest places in the country to live, but also to start and run a small business.” said Brent Donnelly, the SBA District Director for Montana. “With the grit and resiliency Montana business showed in pandemic 2020, coupled with the dedication of our Montana lenders, a doubling of SBA loan volume is no surprise.”

Loan Approvals By County

Yellowstone: $50,289,300 (96)

Gallatin: $42,574,900 (50)

Flathead: $27,811,400 (41)

Missoula : $12,920,800 (35)

Cascade: $8,198,400 (13)

Lewis & Clark: $7,725,600 (13)

Lake: $3,518,600 (12)

Carbon: $3,227,500 (7)

Park: $4,384,600 (7)

Valley: $490,200 (4)

Lincoln: $1,610,000 (4)

Custer: $1,139,800 (4)

Richland: $520,000 (3)

Deer Lodge: $679,500 (3)

Sanders: $765,400 (3)

Fergus: $327,000 (3)

Ravalli: $2,835,900 (3)

Teton: $1,597,900 (2)

Silver Bow: $2,594,000 (2)

Phillips: $2,675,000 (2)

Jefferson: $1,579,000 (2)

Daniels: $1,071,000 (2)

Granite: $515,000 (1)

Blaine: $10,000 (1)

Chouteau: $350,000 (1)

Powder River: $237,000 (1)

Sheridan: $175,000 (1)

Big Horn: $2,400,000 (1)

Stillwater: $416,200 (1)

Glacier: $789,100 (1)

Dawson: $350,000 (1)

Rosebud: $321,600 (1)

Madison: $1,709,000 (1)

Meagher: $783,000 (1)

Grand Total: $186,591,700 (323)