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s2smodern

 

Once again, Glacier Bancorp, Inc., headquartered in Kalispell made the largest number of SBA 7(a) guaranteed loans during Fiscal Year 2019.  The entire Glacier Bancorp Montana division approved 38 SBA guaranteed loans totaling $5,883,000.  The high dollar volume SBA 7(a) lender was Live Oak Banking Company with $10,485,000 in approvals. Big Sky Finance of Billings, MT approved the largest number and dollar of 504 loans with 16 loans approved totaling $14,653,000.

Figures released today by the SBA Montana District Office show that during fiscal year 2019 (October 1, 2018 - September 30, 2019), SBA guaranteed 215 loans totaling $91,953,150.  Although FY19 saw fewer loans than FY18, the dollar volume of these loans increased 22% in FY19.  Of these loans, 194 for $91,953,150 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.  Twenty-one loans totaling $17,386,000 were made through SBA’s 504 Certified Development Company program, providing long term fixed rates financing for land, buildings and equipment.

Restaurants (limited and full service), hotels, fitness/recreation centers, personal services and general automotive repair businesses were among the most frequently financed businesses during Fiscal Year 2019.  Of the 215 loans, 36 loans totaling $7,675,400 were made to women-owned businesses, 8 loans totaling $2,600,900 were made to veterans, and 14 loans totaling $10,508,600 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, SBA’s Montana District Director. “Out of the 215 loans that were guaranteed by the SBA, 85 totaling $16,930,200 were made to new/startup businesses (which includes changes of ownership).

Loan Approvals by Lender (Ranked by Number of Guaranteed Loans) LENDER NAME Count of LOAN NUMBER Sum of GROSS AMT

Lender                                         No. Loans                                      Gross Amt.      

Glacier Bank                                        38                                            $5,883,000

Wells Fargo Bank, NA                         20                                              $839,100

U.S. Bank, NA                                    19                                            $2,672,300

Big Sky Economic Development Corp.16                                           $14,653,000

Three Rivers Bank of Montana            12                                            $5,999,500

Stockman Bank of Montana                 11                                            $1,667,600

The Yellowstone Bank                         10                                             $1,199,150

Montana Community Dev. Corp.         10                                            $1,211,900

Rocky Mountain Bank                          9                                            $7,260,000

Bank of Bridger, NA                             9                                             $2,415,300

Stearns Bank NA                                  5                                            $1,989,000

Live Oak Banking Co.                          5                                           $10,485,000

Newtek Small Business Finance, Inc.    4                                            $1,022,000

Valley Bank of Ronan                           4                                                $786,000

Bank of the Rockies, NA                       4                                             $1,860,400

Celtic Bank Corporation                       3                                                $636,500

First Interstate Bank                              3                                                 $698,200

Manhattan Bank                                  3                                               $500,000

Cadence Bank, NA                              2                                                $500,000

Citizens Bank                                      2                                            $1,156,800

River Valley Bank                               2                                             $2,995,000

High Plains Financial, Inc.                   2                                                $574,000

Clare Bank, NA                                   2                                             $2,022,000

Opportunity Bank of Montana              1                                             $1,000,000

First Home Bank                                 1                                                $745,000

Bank of Idaho                                     1                                               $225,000

Eastern Idaho Development Corp.        1                                                $392,000

First Security Bank of Helena              1                                                $117,000

Alaska Growth Capital BIDCO, Inc.     1                                             $1,235,000

Poppy Bank                                        1                                            $1,105,000

First Western SBLC, Inc.                     1                                               $532,000

BankUnited, NA                                  1                                             $2,505,000

Capital Matrix, Inc.                              1                                                $615,000

Bank of Bozeman                                1                                                $217,000

Umpqua Bank                                      1                                              $4,513,800

First Montana Bank, Inc.                      1                                              $3,290,000

Dakota Business Lending                     1                                              $1,152,000

Farmers State Bank                             1                                            $1,003,000

United Midwest Savings Bank, NA      1                                                $150,000  

First Community Bank                        1                                              $1,300,000

First Savings Bank                              1                                                 $770,100

Open Bank                                         1                                              $1,712,000

Merchants Bank                                  1                                                $348,500

Grand Total                                         215                                             $91,953,15021