If you run a small business in Montana, it’s almost certain you’ll apply for a loan at some point during your business’s journey. Whether you need expansion capital or need extra cash to improve everyday operations, a small business loan can help you reach your goals and push you to the next level of success. It’s important to connect with a bank that can match your loan needs, business growth path, and unique business details. With this in mind, many small business owners choose to connect with a local community bank for small business loans.

Why Choose a Local Community Bank for Small Business Loans?

Unlike larger banks, a local community bank is the best bank to use for a small business, especially for loans. According to the Institute for Local Self-Reliance, the country’s largest banks commit only 18% of their commercial loans to small businesses. In contrast, local community banks have more insight into the local market and can use this knowledge of the community to make informed loan decisions. Here are a few of the top benefits of choosing a local community bank for small business loans:

  • Easy Access to Services – Local community banks often have easier access to services and customer support, which can come in handy when you want to chat with a banking representative in person. From customized services to handy mobile tools, local community banks can often match commercial banks’ services but offer better accessibility.
  • Same Services for a Better Price – Most local community banks like Bank of Bozeman offer an array of services at a much lower cost than larger banks. Experts indicate that, on average, small financial institutions offer better terms on loans, credit cards, and savings than bigger banks.
  • Keeps Decision-Making Local – This is a crucial factor for why smaller banks are the best banks for small business loans. With a local community bank, loan approvals and other big financial decisions are made by people who live in the community. The face-to-face relationship value helps them understand local needs, which often means local community banks approve the small business loans that big banks would reject

Our Banking & Loan Services for Small Businesses

Bank of Bozeman offers a range of services for small business owners that not only offer competitive rates but customized, accessible customer service. Look through our small business services below to see many Montanans believe we are the best bank to use for a small business.

Variety of Loans

We have a number of guaranteed business loan programs to help your company and offer them at competitive rates. Whether you need initial capital or are seeking to purchase land for your business expansion, Bank of Bozeman is your go-to bank for small business loans. We offer the following loans for small businesses:

  • SBA Loans – Grow and expand your business with a loan from the Small Business Administration.
  • Equipment Loans – Easily finance what your business needs with an equipment loan.
  • Construction Loans – If you’re seeking to expand your business into a new building, a construction loan can help cover the upfront costs associated with the construction of a commercial building project.
  • Agricultural Loans – If you’re in the agricultural sector, our agricultural loans cover expense lines of credit, equipment loans, crop production loans, and much more.
  • Lines of Credit – Whether revolving or non-revolving, we can help you manage your cash flow with a business line of credit. These loans can help you start your small business or establish business credit. Start-up loans may be as small as $10,000 & may be made in conjunction with Prospera, SBA or USDA.
  • Land Loans – Business land loans can help fund raw or developed land. You can use these loans to acquire raw or developed land that is being held in anticipation of zoning.

Savings & Checking Accounts

Your business has a variety of business needs, from company credit cards to business checks. We offer checking and savings accounts to help smooth your business’s financial operations so you remain professional and profitable. Bonus, if you run out of checks or lose your business debit card, it’s much easier to connect with a local community bank you can count on than a bigger bank.

Convenient Access to Services

Effortless banking is one of the most important reasons to choose a local community bank for your small business needs. If you ever have questions about loans, small business financial management, or expansion plans, our experts are readily available to assist you. For additional convenience, we offer mobile and online banking services so you can manage your business’s finances from the comfort of your phone or laptop. From the time you receive your loan to the time you put down the final payment, it’s easy to manage an account with Bank of Bozeman.

Get a Loan Today

Because of our central location in the heart of the Gallatin Valley, we believe we’re one of the best banks for small business owners in Montana. As an integral part of the community, we’re proud to support local merchants and residents with financial services to help them reach their goals. Apply for a small business loan today and start establishing your credit and good name. If you have any questions, our team is ready to chat with you about your loan needs. Reach out to us at (406) 587-5626.