SBA Loans Designed for Success
Whether you’re launching your business or require long-term funding for a large project, our SBA loans provide the financing you need to bring your vision to life. As Montana’s Last Best Bank®, we take the time to get to know your business inside and out to provide loan solutions that best match your goals. Our deep expertise in the Bozeman business community allows us to make lending decisions swiftly so your business can grow and flourish.
SBA Loan Benefits: A Great Choice for Small Businesses
Lower Interest Rates
With a low interest rate, your monthly payments stay affordable, giving you the financial freedom to focus on other business expenses.
Longer Repayment Terms
By repaying over an extended period of time, you may qualify for larger loans without the burden of high monthly payments.
More Affordable
A government guarantee means we can provide lower interest rates, extend repayment terms, and reduce down payment requirements.
Who Qualifies for an SBA Loan?
While more flexible than conventional loans, SBA loan eligibility requires businesses meet certain criteria for approval:
- Size: Businesses must meet the SBA’s definition of a “small business,” which varies by industry. You can check specific size standards using the SBA’s Size Standards Tool.
- Business Type: Sole proprietorships, partnerships, corporations, and limited liability companies are eligible to apply for SBA loans. Gambling-related businesses or speculative investments are not qualified to apply.
- For-Profit: Nonprofit organizations are not eligible to apply for SBA loans.
- Exhausted Other Financing Options: Borrowers must have tried and failed to obtain financing from other sources before applying for an SBA loan.
How to Apply for SBA Loans
To apply for SBA loans, you’ll need to provide details about your business and finances. Our SBA loan experts are here to guide you through each step. When applying, you may need to share some of the following information:
- Business Plan: Explain your business operations, revenue projections, and growth plans.
- Loan Purpose: Share a clear description of how the loan funds will be used, such as for working capital or to purchase equipment.
- Personal and Business Tax Returns: Providing three years is best.
- Business Licenses and Certifications: Show that your business is operating legally and is compliant with local, state, and federal regulations.
Discover How We Empower Small Businesses to Succeed
SBA Loan FAQs
What can SBA loans be used for?
SBA loans can be used for a variety of purposes, including: working capital, purchasing equipment or inventory, buying commercial real estate, and expanding your business.
Are SBA loans only for new businesses?
No, SBA loans are available to both new and established businesses.
How long do I have to repay an SBA loan?
Repayment terms can vary. For example, working capital loans can have terms of up to 10 years, while loans for real estate can have terms of up to 25 years. Our SBA loan specialists can help you find the loan to best fit your needs.
Land Loans
Our land loans provide the financing you need to purchase raw or developed land for your next project.
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Construction Loans
If you’re a commercial contractor building a custom or pre-sold home, we offer financing to help cover construction and renovation-related costs.
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Equipment Loans
Whether you’re expanding your facilities or upgrading your equipment, our equipment loans can provide resources for financing purchases, refinancing debt, or help to boost your working capital.
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Agricultural Loan
Best suited for farmers and ranchers, we offer agricultural loans designed to help you expand your operation and scale up your production.
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Lines of Credit
Regardless if you’re starting your business from scratch or looking to grow, we can assist you with cash flow and business plans.
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