Montana small business lenders connect companies with the capital they need to thrive.
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Biglaw Investor connects you with small business lenders who can help you expand your business, whether through working capital or via acquisition. A small business loan loan is a great way to grow your business—but it can be hard to know where to start. Our small business lenders offer an experience specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your business needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
The state of Montana is one of the least densely populated states in the country. While it spans 147,000 square miles, it has a population of 1.08 million people. Called “Big Sky Country,” Montana is most certainly known for its incredible natural landscape, from its mountains to its plains and badlands. There are a total of 77 named ranges that make up a portion of the Rocky Mountains present here. It is those mountains that have helped the state to build up its tourism industry. For those that live in Montana, it has much to offer, including a modern quality of life, competitive real estate prices, and a wide range of opportunities to support small businesses.
Many know that Montana is a recognized location for ranching and farmland, and those are two large industries here, but there are others, including coal, mining, oil, and healthcare. Some of the largest businesses in the state are in those industries. Yet, there is also a thriving small business economy in the state as well fueled by service providers, tourism-focused organizations, food service, and many others. The U.S. Small Business Administration states there are 129,180 small businesses in Montana that provide 250,680 jobs for residents throughout the state. These jobs generate a payroll worth $9,640,685. Many households depend on these jobs.
Small business lenders in Montana help to support the growth and development of these companies, too. With a wide range of opportunities for businesses present in the state, having access to affordable capital to grow a company is a must. The most recent three years of data from the Small Business Administration shows there are 708 small business loans active in the state with a loan volume of $410,479,641. The average loan size here is $579,774. With those funds, smaller companies can take on bigger challenges, expand and grow, as well as retool and modernize their operations, making these funds a critical component of their financial stability.
A small business loan is a type of financial tool. Lenders, such as banks and private lending organizations, provide an infusion of cash for companies to use to meet a wide range of their financial needs. The borrower, which is the business or the owner of the business, agrees to repay the borrowed money along with interest. The interest rate on small business loans varies by type of loan, lender, and other factors, but it is typically highly competitive and can be affordable for the benefits it can offer.
When a business wishes to borrow funds to help support the growth or operations of their company, they can apply formally to Montana small business lenders. These lenders work closely with owners to determine the best type of structure for the loan, with options ranging from term loans (short and long), equipment financing, and even lines of credit. These loans are designed to provide the number of funds needed to meet the company’s objectives but to do so in a way that allows the lender to have some reduced risk.
For example, some business loans are SBA loans, which are designed to provide lenders with larger amounts of funding that they can use for business growth or development. These are sometimes government backed loans, which means the federal government helps to provide financial insurance to back up the loan should the business default. This lowers the risk to the lender, allowing the lender to agree to the loan and often to provide an affordable interest rate on it.
Nearly all small business lenders in Montana require borrowers to provide a great deal of information to determine if they qualify for the loan. This could include information such as business plans, balance sheets, profit and loss statements, and a wide range of other details, including proof of ownership. The business owner’s credit history could be used to determine the amount of risk present if the business does not have its own established credit history. Most lenders expect companies to also have been in business for one or more years to obtain these loans.
Some of the most common Montana small business loans you are likely to find available include:
Take the time to compare several lenders as well as loan types to determine which is best suited for your specific needs, such as if you need to purchase something like commercial real estate.
Plenty of entrepreneurs look at all kinds of economic development options after the start-up phase. This could include multiple types of business financing such as lines of credit, credit cards, non-profit or small business grants, or loans from financial institutions or credit unions. There are many small business resources out there, too, such as local organizations or small business development centers. If you qualify for minority-owned lending or grants or funding for women-owned businesses or companies owned by Native Americans, take advantage of it to boost your cash flow.
However, if you’ve exhausted all other resources for your business needs, look into loan products that allow repayment over time as your business grows.
| Rank | Bank Name | # of Montana Loans | Avergage Interest Rate | Average Loan Size |
|---|---|---|---|---|
| 1 | Yellowstone Bank | 52 | 5.12% | $547,279 |
| 2 | Glacier Bank | 46 | 4.93% | $319,080 |
| 3 | Stockman Bank of Montana | 22 | 4.77% | $525,405 |
| 4 | Bank of Bridger | 19 | 4.96% | $300,847 |
| 5 | Wells Fargo Bank | 14 | 7.14% | $305,521 |
| 6 | Three Rivers Bank of Montana | 13 | 5.94% | $316,885 |
| 7 | Valley Bank of Ronan | 12 | 5.10% | $296,192 |
| 8 | First Interstate Bank | 11 | 4.91% | $198,782 |
| 9 | Opportunity Bank of Montana | 8 | 5.16% | $514,000 |
| 10 | U.S. Bank | 8 | 6.12% | $91,463 |
Yellowstone Bank was founded in 1907 to serve the people of Montana with a community driven Bank. Now with 9 branch locations and over 25 ATM locations, Yellowstone Bank can use its over 100 years of banking experience to meet its customers’ business and personal banking needs.
We reached out to Yellowstone Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Opening in Kalispell, Montana, 65 years ago, Glacier Bank has grown from an original staff of two in 1955 as First Federal Savings and Loan to now having 16 branches. Glacier Bank is located in five counties in Montana and is able to provide all banking services, including business loans.
We reached out to Glacier Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Started in 1953, Bill Nefsy purchased a controlling interest in Milers City Bank in Montana, which he grew, and it became Stockman Bank of Montana. Now with over 25 locations to serve customers throughout Montana, Stockman Bank of Montana provides services for business and personal banking, including agriculture loans.
We reached out to Stockman Bank of Montana to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Bank of Bridger is a locally owned and operated bank with locations throughout Montana and Wyoming to meet the needs of its customers since opening in 1915. Bank of Bridger offers a number of options for banking on a business and personal level to meet the needs of its customers.
We reached out to Bank of Bridger to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Wells Fargo Bank was started in 1852 by Henry Wells and William G. Fargo as a bank to help customers build business and manage money. Wells Fargo Bank offers many products through its many branches to meet customers’ needs, including mortgages, wealth management, and personal and small business banking.
We reached out to Wells Fargo Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Montana small business owners have access to a wide range of information and resources to help support their growth. One of the best resources for most companies is the Small Business Administration in Montana. This organization provides a wide range of tools and resources to help companies, including advice on business formation, marketing, growth plans, and much more. They also offer local offices where companies can get help for disaster recovery, federal contracting certification, and loan support. There is no cost to using these services.
SCORE is another exceptional tool for small business owners in Montana. This organization helps connect successful business owners with new companies and others to provide mentorship tools and training. They also offer webinars and lots of informative information on the organization’s website. They have a main office in Billings and a packed website to offer excellent free advice.
If you want to find the best small business loans in other states, click on your state below.
Joshua Holt is a lawyer and founder of Biglaw Investor. He spent 10 years practicing private equity mergers & acquisition law for one of the largest law firms in the country. As part of his practice, he advised small and medium sized businesses on matters ranging from business loans to the acquisitions and divestitures of stocks and assets.
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