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Once again, Glacier Bancorp, Inc., headquartered in Kalispell made the largest number and dollar of SBA guaranteed loans during Fiscal Year 2018.  The entire Glacier Bancorp Montana division approved 54 SBA guaranteed loans totaling $9,956,400. 

Figures released by the SBA Montana District Office show that during fiscal year 2018 (October 1, 2017 - September 30, 2018), SBA guaranteed 239 loans totaling $75,665,610.  Of these loans, 223 for $61,889,610 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.  Sixteen loans totaling $13,776,000 were made through SBA’s 504 Certified Development Company program, providing long term fixed rates financing for land, buildings and equipment. 

Full-service restaurants, electrical contractors, landscaping services, convenience stores, and commercial and industrial machinery and equipment were among the most frequently financed businesses during Fiscal Year 2018.  Of the 239 loans, 48 loans totaling $12,559,000 were made to women-owned businesses, 10 loans totaling $1,757,200 were made to veterans, and 22 loans totaling $7,413,500 were made to minority business owners. 

“While starting a business in Montana continued to be popular, we also helped finance a large number of business acquisitions,” said Wayne Gardella, the SBA District Director for Montana. “Out of the 239 loans that were guaranteed by the SBA, 165 totaling $59,256,310 were made to new/startup businesses (which includes changes of ownership), compared to 74 existing businesses that received $16,409,300 in SBA guaranteed funding across the state.”

Loan Approvals by Lender

(Ranked by Number of Guaranteed Loans)

Lender              Number Loans          Loan Amount

Glacier Bank                  54                        9,956,400

Wells Fargo Bank         23                   6,117,000

The Yellowstone Bank 18                  5,257,200

Bank of Bridger, N.A. 17                   3,609,450

Stockman Bank           13                   1,018,000

U.S. Bank, N.A.          12                     882,000

First Interstate Bank      9                   2,530,600

Three Rivers Bank        9                   1,759,060

Rocky Mountain Bank  7                   1,736,000

Independence Bank      6                      725,000

Montana Community

   Development Corp.   5                      612,700

Celtic Bank Corp.        4                      478,500

First Security Bank,  Helena  4           2,185,800

Bank of Bozeman              4                       760,000

Manhattan Bank                 4                       917,000

Opportunity Bank                3                       300,000

Valley Bank of Glasgow   3                  1,899,800

Granite Mountain Bank     3                     684,900

Bank of the Rockies         3                 2,320,000

The Bank of Commerce     2                    245,000

Alaska Growth Capital BIDCO  2      4,728,800

Santa Cruz County Bank           1       1,130,000

United Community Bank           1       1,823,000

State Bank and Trust Company  1           48,000

Five Star Bank                          1         250,000

Stearns Bank, N.A.                    1         286,000

Farmers State Bank                    1       1,209,000

Live Oak Banking Company      1      2,770,000

Stone Bank                               1         665,000

U.S. Bank, N.A.                        1         255,500

MetaBank                                 1         200,000

The First State Bank of Malta    1           35,000

Newtek Small Business Finance 1           50,000

FinWise Bank                            1        779,000

Freedom Bank                           1           50,600

Radius Bank                              1      2,250,300

First Savings Bank                     1         632,000

River Valley Bank                     1         608,000

First Home Bank                       1         125,000

Total SUM                             223    61,889,610