Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Big Sky, Montana

 
Loan Census SBA Loan Info

Small business loans in Big Sky, Montana are available. You just need to talk to the right bank.

This article is written specifically for entrepreneurs in Big Sky, Montana who are interested in getting a bank loan.

Local Big Sky Business Loan Sources

To assist you in finding a small business banker, here's our list of small business banks in Big Sky.

Small Business Bank Recent SBA Loans
1st Security Bank  
American Bank of Montana  
Big Sky Western Bank  
Flat Rock Financial- Inc.  

SBA Lenders for Big Sky Businesses

This is a list of banks outside of Big Sky, Montana that have provided SBA loans to Big Sky businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
American Bank
Bozeman, MT
1
First National Bank - Montana Inc.
Bozeman, MT
1
Yellowstone Bank
Billings, MT
1
Yellowstone Bank
Laurel, MT
1

Tips for Getting a Business Loan in Big Sky

As a prerequisite to contacting banks for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.

A well-defined business plan is is critically important. If the capital is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to to to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. The banks will check on your personal credit history in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to get up to speed on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

More Business Loan Info for Montana
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