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Arizona District Office
2828 North Central Ave Suite 800
Phoenix, AZ 85004
United States
Phone: 602-745-7200
Fax: 602-745-7210
Hours of Operation:
Monday through Friday from 8:00 AM to 4:30 PM
SBA Announces Fiscal Year End Loan Guarantee Results for Montana

Advisory Date: Friday, November 1, 2013
Release Date: Wednesday, October 30, 2013
Release Number: 14-01
Related State:
Montana

The Montana District Office of the U.S. Small Business Administration released its fiscal year-end loan figures for 2013 (October 1, 2012 to September 30, 2013).  By providing much needed access to capital through loan guarantees small businesses in Montana can grow, thrive, and create new jobs.

During Fiscal Year 2013, SBA guaranteed 307 loans totaling $88,345,800, which helped create and retain 2,549 jobs.  Of these loans, 273 for $67,832,800 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.  Thirty-four loans totaling $20,513,000 were made through SBA’s 504 Certified Development Company program, which provides long-term fixed-rate financing for land, buildings and equipment. 

Specialty trade contractors, dental offices, hotels and motels, chiropractor offices, gasoline stations/convenience stores, and fitness/recreational sports centers were among the most frequently financed businesses during Fiscal Year 2013.  Of the 307 loans, 57 loans totaling $15,656,000 were made to women-owned businesses, 26 loans totaling $5,649,900 were made to veterans, and 27 loans totaling $6,576,700 were made to minority business owners. 

Wayne Gardella, the SBA District Director for Montana said “Montana is well-known for being one of the best places in the country to start a small business. Out of the 307 loans that were guaranteed by the SBA, 33 percent were to startup businesses and 101 new businesses received $19,439,600 in SBA guaranteed funding.”

SBA also places a strong emphasis on increasing access to capital in rural, low-moderate income and other historically underserved areas.  During Fiscal Year 2013, 188 loans totaling $47,426,200 in rural and low-to-moderate income areas. 

SBA’s streamlining of the Small Loan Advantage programs also continued to produce dramatic results, increasing the number of lower-dollar SBA 7(a) loans going to small businesses and entrepreneurs in underserved communities. The program, which is a key 7(a) loan initiative designed to expand access to loans under $350,000, was first launched in Feb. 2011, and revamped in June 2012. SBA has significantly reduced paperwork for the SLA program and expanded our pool of lenders.  In FY 2013, SBA Montana District Office backed 81 loans for $11.3 million through the SLA program, compared to 39 for $4.7 million in FY12.

 

 

Loan Approvals by Lender (Ranked by Number of Loans)

 

Lender

#

$

Glacier Bank

62

$9,809,700

Stockman Bank of Montana

31

$4,158,800

Wells Fargo Bank National Association

22

$6,377,200

U.S. Bank National Association

20

$3,338,800

Mountain W. Bank National Association 

18

$2,752,400

Big Sky Economic Development Corporation

17

$12,380,000

Yellowstone Bank

17

$5,632,100

Montana Community Finance Corporation 

14

$7,709,000

First Interstate Bank

11

$1,863,300

Bank of Bridger National Association

11

$1,032,000

Rocky Mountain Bank

9

$2,247,800

Montana Community Development Corporation

9

$747,100

First Security Bank

7

$2,424,700

American Federal Savings Bank

5

$808,400

Bank of Rockies National Association

5

$3,246,100

Farmers State Bank

5

$1,696,600

Prairie Mountain Bank

4

$1,300,700

Three Rivers Bank Of Montana

3

$1,352,000

Celtic Bank Corporation

3

$890,000

Bitterroot Valley Bank

3

$3,675,400

Alaska Growth Cap. Bidco Inc.

3

$4,525,000

High Plains Financial, Inc.

3

$424,000

First State Bank of Forsyth

2

$500,200

West One Bank

2

$255,000

First Northern Bank of Wyoming

2

$885,000

First Security Bank of Helena

2

$62,400

The First State Bank of Malta

2

$353,200

Live Oak Banking Company

2

$1,600,000

Flint Creek Valley Bank

2

$236,000

Commonwealth Business Bank

1

$970,000

Montana State Bank

1

$350,000

Hanmi Bank

1

$1,560,000

Ruby Valley National Bank 

1

$90,000

United Midwest Savings Bank

1

$1,190,000

Flathead Bank of Bigfork

1

$244,000

Newtek Small Bus. Finance Inc.

1

$351,000

First Citizens Bank of Polson National Association

1

$20,400

Bank of Bozeman

1

$125,000

First Citizens Bank of Butte

1

$162,500

Fnb Bank

1

$1,000,000

Grand Total

307

$88,345,800

 

Certified Development Company – 504 loans (Ranked by Number of Loans)

 

Lender

#

$

Big Sky Economic Development Corporation

17

$12,380,000

Montana Community Finance Corporation 

14

$7,709,000

High Plains Financial, Inc.

3

$424,000

Grand Total

34

$20,513,000

 

Third Party Lender Participation Amounts in 504 Projects (Ranked by Number of Loans)

 

Lender

#

$

First Interstate Bank

9

$4,477,000

Stockman Bank of Montana

6

$2,467,000

American Federal Savings Bank

2

$670,000

Yellowstone Bank

2

$3,104,000

Pioneer Bank & Trust

1

$1,039,000

Three Rivers Bank of Montana

1

$91,000

Ruby Valley National Bank

1

$109,000

Glacier BanCorp., Inc.

1

$111,000

Flathead Bank of Bigfork

1

$231,000

Glacier Bank

1

$319,000

Prairie Mountain Bank

1

$102,000

Great Western Bank

1

$2,504,000

Beartooth Bank

1

$715,000

Western Security Bank, A Division of

1

$826,000

Wells Fargo Bank, National Association

1

$352,000

American Bank

1

$524,000

Mountain West Bank, National Association

1

$472,000

Independence Bank

1

$2,040,000

Missoula FCU

1

$360,000

Grand Total

34

$20,513,000

 

Loan Approvals by County (Ranked by Number of Loans)

 

County

#

$

Yellowstone

85

$21,737,700

Missoula

38

$18,485,600

Lewis And Clark

38

$7,345,200

Gallatin

34

$11,621,100

Flathead

25

$5,212,200

Cascade

14

$2,254,000

Carbon

8

$585,300

Jefferson

8

$1,790,000

Silver Bow

6

$964,700

Dawson

5

$1,559,900

Park

5

$2,086,200

Ravalli

4

$803,000

Lincoln

4

$207,000

Pondera

3

$1,615,000

Hill

3

$2,255,500

Lake

2

$540,000

Blaine

2

$1,289,400

Rosebud

2

$500,200

Petroleum

2

$2,193,700

Phillips

2

$797,700

Liberty

2

$706,200

Madison

2

$199,000

Fergus

1

$560,000

Valley

1

$20,000

Sweet Grass

1

$35,000

Broadwater

1

$65,200

Daniels

1

$200,000

Deer Lodge

1

$220,000

Stillwater

1

$150,000

McCone

1

$30,000

Toole

1

$5,000

Roosevelt

1

$1,039,000

Custer

1

$773,000

Mineral

1

$150,000

Sheridan

1

$350,000

Grand Total

307

$88,345,800

 

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