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SBA Releases Montana’s Mid-Year Loan Numbers

Release Date: 
Wednesday, April 16, 2014
Release Number: 
14-06
Advisory Date: 
Wednesday, April 16, 2014

HELENA, MT – SBA dollar volume lending in Montana is up 15-percent during the first six months of the fiscal year compared to the same period last year.  Small businesses received an additional $6 million – a million dollars a month – in guaranteed financing through the SBA between Oct. 1, 2013 through March 31, 2014.

 

During the first half of fiscal year 2014, the Montana SBA District Office approved 145 loans totaling $48,206,600, one more than during the same period last year.  Of the 145 loans, 136 totaling $38.2 million were approved under SBA’s flagship 7(a) guaranteed loan program, and 9 loans totaling $10 million were made through the 504 Certified Development Company Program, a program that provides growing businesses with long-term fixed-rate financing for major fixed assets, such as land and buildings. 

 

Breakout of total loans approved during the first half of FY2014

  • Twenty-eight loans totaling $5.1 million were made to women owned businesses
  • 11 loans totaling close to $5.8 million were made to veterans
  • 6 loans worth just under $200 thousand were made to minority business owners
  • 50 loans for $7.1 million were to new businesses
  • The most frequently financed businesses included: site preparation contractors, dental offices, misc. retailers (including home furnishings, floor covering, and sporting goods), highway, street and bridge construction, and landscaping services.

"Capital is the lifeblood of small businesses and entrepreneurs wanting to start or expand a business.   Therefore, creating better access to capital to Montana’s small business enterprises is a very important role for the U.S. Small Business Administration” quoted Wayne Gardella, Montana SBA District Director.

 

Loan Approvals by Number of Loans

 

YELLOWSTONE BANK                          

14

$3,613,000

U.S. BANK NATIONAL ASSOCIATION            

13

$2,498,700

STOCKMAN BANK OF MONTANA                  

11

$1,213,900

WELLS FARGO BANK NATL ASSOCIATION               

11

$5,435,600

FIRST INTERSTATE BANK                     

8

$1,190,700

ROCKY MOUNTAIN BANK                       

8

$1,018,200

FIRST SECURITY BANK                       

7

$400,500

BIG SKY ECONOMIC DEVELOPMENT CORPORATION               

6

$7,555,000

VALLEY BANK OF HELENA

5

$668,900

MONTANA COMMUN DEVELOPMENT CORPORATION                

5

$677,800

AMERICAN FEDERAL SAVINGS BANK             

5

$928,600

GLACIER BANK                               

4

$405,000

WESTERN SECURITY BANK

4

$485,000

MONTANA COMMUNITY FINANCE CORPORATION                 

3

$2,449,000

THREE RIVERS BANK OF MONTANA              

3

$608,000

BANK OF BRIDGER

3

$605,000

BIG SKY WESTERN BANK

3

$193,200

LIVE OAK BANKING COMPANY                  

3

$1,860,000

MOUNTAIN WEST BANK

3

$552,000

THE FIRST STATE BANK OF MALTA             

2

$400,000

BANK OF ROCKIES

2

$4,554,000

TREASURE STATE BANK                       

2

$407,700

FARMERS STATE BANK                         

2

$161,600

FIRST SECURITY BANK OF MISSOULA             

2

$1,291,000

CELTIC BANK CORPORATION                   

2

$800,000

UNITED BANK                               

1

$60,000

SUPERIOR FINANCIAL GROUP, LLC             

1

$25,000

VALLEY BANK OF GLASGOW                    

1

$240,000

FLATHEAD BANK OF BIGFORK                  

1

$60,900

FIRST MONTANA BANK, INC.                  

1

$1,262,800

WEST ONE BANK                             

1

$174,000

ALASKA GROWTH CAPITAL             

1

$3,520,000

SPIRIT OF TEXAS BANK

1

$199,100

FIRST SECURITY BANK OF HELENA             

1

$10,200

PRAIRIE MOUNTAIN BANK                     

1

$277,200

FIRST SECURITY BANK OF DEER LODGE            

1

$150,000

FIRST BANK OF LINCOLN                     

1

$1,615,000

MERCHANTS BANK                            

1

$600,000

MISSOULA FEDERAL CREDIT UNION                              

1

$40,000

 

 Loan Approvals by County

 

YELLOWSTONE

41

$15,807,200

GALLATIN

33

$7,802,900

MISSOULA

16

$3,698,700

FLATHEAD

10

$1,747,100

LEWIS AND CLARK

10

$2,666,900

CASCADE

6

$2,161,700

RAVALLI

3

$139,700

SILVER BOW

2

$2,037,800

PARK

2

$278,600

PHILLIPS

2

$400,000

JEFFERSON

2

$589,200

RICHLAND

2

$739,400

LAKE

2

$133,000

STILLWATER

2

$171,000

DAWSON

2

$329,000

FERGUS

2

$4,554,000

GRANITE

1

$38,000

VALLEY

1

$240,000

TOOLE

1

$735,000

CARBON

1

$105,000

MADISON

1

$60,900

WHEATLAND

1

$3,520,000

BIG HORN

1

$101,500

LINCOLN

1

$150,000

 

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Related State: 
Montana