Garrett Scott of Yellowstone Bank has received Montana & Idaho CDC’s first ever Montana Small Business Lender of the Year Award.
Scott helped connect several Billings-area entrepreneurs to capital to see them through short term growth needs and prepares them for a longer-term bank loan, through the CDC — an organization that provides consulting and financial services to entrepreneurs and small businesses that are not able to receive a bank loan.
Scott has helped small businesses access nearly $1 million in the nontraditional financing – more than any other CDC lender in Montana.
Scott has over a decade of experience in finance, including commercial, real estate and consumer lending. He joined Yellowstone Bank in 2009 and currently serves as Vice President at the Billings Homestead branch. Among the Billings-area businesses he helped in 2017 are McDonnell Enterprises, Chalet Market and Big Sky Pet Resort.
“Our family is a longtime client of Garrett’s and of Yellowstone Bank,” said Matthew McDonnell of Big Sky Collision. “When we needed point-in-time capital to invest in staff training and expand our technology at a key moment in our growth, it was just outside of what the bank could do. Garrett put us in touch with Montana & Idaho CDC and they helped us out. We applaud all that Yellowstone Bank does to invest in Billings small businesses, including helping folks access resources like Montana & Idaho CDC.”
In 2017, Montana & Idaho CDC provided loans to almost 100 nearly bankable small businesses through lenders like Scott, with just over half of that amount going to startup businesses.
“We applaud Garrett for taking the extra time to connect promising businesses and people to Montana & Idaho CDC,” said Dave Glaser, President and CEO of Montana & Idaho CDC. “These borrowers came to Garrett, he saw their potential and he went the extra mile to put them in touch with us. Today, more Billings businesses have been able to get the capital they needed because of Garrett’s commitment to their success.”