Small business loans in Billings, MT
Short answer
The most active SBA lenders in Billings, MT since FY2024 are The Yellowstone Bank (15 loans) and First Interstate Bank (11). The median loan was $353,750, and half fell between $92,500 and $638,750. For free help, see the Montana Small Business Development Center. Source: SBA 7(a) loan data.
- SBA loans since FY2024
- 86
- approved since FY2024
- $52.13M
- median loan
- $353,750
- through SBA Express
- 20.9%
Lenders making SBA loans in Billings
No lender made more than 17% of the loans in Billings, and The Yellowstone Bank made the most. The five largest lenders together made 53%.
| Lender | Loans | Share |
|---|---|---|
| The Yellowstone Bank | 15 | 17.4% |
| First Interstate Bank | 11 | 12.8% |
| Glacier Bank | 7 | 8.1% |
| U.S. Bank | 7 | 8.1% |
| Readycap Lending, LLCNon-bank lender | 6 | 7.0% |
Share is the percent of all Billings loans in that period. Each name links to that lender's page for Montana where one exists.
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Local help near Billings
Billings borrowers can start with SBA's district office for Montana, an SBDC or SCORE.
37% of Billings borrowers since FY2024 were startups or businesses two years old or younger. SBDCs provide counseling and training, and SCORE mentors give advice at no cost, according to SBA.
SBA has one district office for Montana. Its page points to state and federal resources and to lenders in the area. The Montana Small Business Development Center gives free counseling across Montana.
- SBA Montana District Office (Helena, with a virtual Billings office)SBA district office
- Montana Small Business Development CenterSmall Business Development Center
- SCORE mentors in MontanaBusiness mentoring
Alongside SBA loans, Montana runs two loan programs. The Montana page describes each, and the official pages are linked here.
Loan counts and sizes in Billings
Billings ranks 1st by loans since FY2024 among the 3 Montana cities with 100 or more SBA loans since FY2020. Nationally it is the 260th busiest of the 580 cities that reach 100 loans.
The 86 loans, 16.3% of the 527 in Montana, were approved for $52.1 million in all. The medianThe middle figure. Half the loans were larger and half were smaller. loan was $353,750, 2.4 times the national median of $150,300. Half of the loans fell between $92,500 and $638,750. The Billings median is 77% above the Montana median of $200,000.
| Measure | Billings | Montana | U.S. |
|---|---|---|---|
| Loans | 86 | 527 | 162,355 |
| Median loan | $353,750 | $200,000 | $150,300 |
| 25th percentile | $92,500 | $60,000 | $50,000 |
| 75th percentile | $638,750 | $539,950 | $500,000 |
| Via SBA Express | 20.9% | 29.8% | 35.8% |
| Lines of credit | 15.1% | 20.7% | 28.1% |
| Startups | 19.8% | 15.7% | 16.1% |
| Ownership changes | 11.6% | 17.3% | 10.4% |
| Median term | 10 years | 10 years | 10 years |
| Median spread | 2.25 | 2.5 | 2.75 |
| Charged off | Fewer than 5 | 1.8% | 3.6% |
A quarter of loans were smaller than the 25th percentile loan and a quarter were larger than the 75th. Median spread is in percentage points over Prime. Charged off is the share of FY2020 to FY2022 loans a lender wrote off as a loss. It is shown only for groups of 30 loans or more. Fewer than 5 marks a share that would stand for 1 to 4 loans, which we do not publish. U.S. covers every loan in the file.
69% of the loans were $500,000 or less, the size SBA Express covers. 20.9% of all loans went through SBA Express, below the national 35.8%. Lines of credit were 15.1% of loans, below the national 28.1%.
Labels show each size's share of all loans. The highlighted bar is the size band that contains the median.
By business age, 51.2% of loans went to businesses more than two years old and 17.4% to businesses two years old or younger. Startups received 19.8% and changes of ownership 11.6%. The national startup share is 16.1%.
Fiscal years run October to September. The last bar covers nine of its twelve months.
Volume rose 6% from FY2024 (31 loans) to FY2025 (33), the two latest full years. The busiest full year in the file was FY2021, with 74 loans. FY2026 already shows 22 loans through June 30.
Of the 119 loans Billings borrowers received in FY2020 to FY2022, fewer than 5 were charged offThe lender wrote the loan off as a loss because it was not being repaid. by June 30, 2026, against 3.6% nationally. Lenders reported 1,037 jobs supported across the 86 loans since FY2024, about 12.1 per loan. SBA does not audit these estimates.
What businesses in Billings borrow for
Insurance Agencies and Brokerages was the largest borrower group in Billings, with 6 loans or 7.0% of the total.
| Industry | Loans | Share | U.S. share |
|---|---|---|---|
| Insurance Agencies and Brokerages | 6 | 7.0% | 1.1% |
| Hotels (except Casino Hotels) and Motels | 5 | 5.8% | 1.1% |
Share is the percent of all Billings loans in that period. Industry is the NAICS code on each loan. A name links to the Montana page for that industry where one exists.
A typical loan payment in Billings
The median Billings loan was $353,750 with a median term of 10 years.
The median variable-rate loan in Billings was priced at Prime plus 2.25 percentage points at approval. At today's Prime that spread works out to 9.25%. On $353,750 over 10 years, principal and interest would come to about $4,529 a month. That is arithmetic on past loans, not a rate a lender is offering.
| Loan | Amount | Monthly payment |
|---|---|---|
| 25th percentile loan | $92,500 | $1,184 |
| Median loan | $353,750 | $4,529 |
| 75th percentile loan | $638,750 | $8,178 |
Principal and interest only. Fees, a different term or a fixed rate change the payment. This is an illustration from SBA's file, not an offer.
SBA's rate ceiling for this loan size
SBA's maximum for a loan of $353,750 is Prime plus 3.0 percentage points, or 10.00% today. The median variable-rate loan here was priced 0.8 points under that ceiling. Source: 13 CFR § 120.214(d)(4); SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.5 (Para. B begins p. 126).
Billings loans approved since FY2024 had a median starting rate of 9.5% at approval, against 10.25% nationally. Prime changed during those years, so use the spread above, not that rate, as the guide to today's cost.
Run your own numbers: payments on a $350,000 loan and SBA Express payment calculator.
SBA 504 loans near Billings
Billings has 29 SBA 504 loans since FY2024, with $29.1 million in SBA and CDC dollars.
The median 504 loan in Billings was $770,000 in SBA and CDC dollars, 15% of the $5,000,000 program maximum. The bank's share of each project is separate and is not counted in these figures.
Big Sky Economic Development Corporation is the Certified Development CompanyA nonprofit that SBA certifies and regulates to arrange 504 loans together with a bank. (CDC) named on the most loans since FY2024, with 16. Capital Matrix, Inc. follows with 7. The two CDCs listed are named on 23 loans between them.
| Certified Development Company | 504 loans |
|---|---|
| Big Sky Economic Development Corporation | 16 |
| Capital Matrix, Inc. | 7 |
How a 504 loan is split
A standard 504 project is 50% third party lender, 40% CDC debenture, 10% borrower. 504 money pays for major fixed assets such as land, buildings and long-term machinery and equipment, not working capitalMoney for day-to-day costs such as payroll, rent and inventory. Full definition or inventory. Source: SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221). SBA keeps a list of Certified Development Companies.
Montana cities near Billings
Billings made up 16.3% of Montana's SBA loans since FY2024.
Billings is one of 3 Montana cities with 100 or more SBA loans since FY2020. The Montana page covers all 527 loans in Montana. The closest come first, ranked by county and ZIP code on their loans.
Common questions about SBA loans in Billings
Which lenders make the most SBA loans in Billings?
The Yellowstone Bank leads with 15 loans in Billings since FY2024. First Interstate Bank (11) and Glacier Bank (7) follow. Only lenders with five or more Billings loans are counted.
Which industries get SBA loans in Billings?
Insurance Agencies and Brokerages leads with 6 loans in Billings since FY2024. Hotels (except Casino Hotels) and Motels (5) follows.
How to read this
Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Location is the borrower's address in the file, and city names are as SBA recorded them. Recent means FY2024 through June 30, 2026. Charge-off rates use FY2020 to FY2022 loans, the only years old enough to have had time to go bad. Jobs supported are lender-reported estimates. How we build these pages.
Sources
- SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026
- SBA, 504 loans
- SBA, resource partners: SBDCs and SCORE
- SBA Montana District Office (Helena, with a virtual Billings office)
- Montana Small Business Development Center
- SCORE, Montana
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. D.1 (p. 241); 13 CFR § 120.931
- SOP 50 10 8.1, Sec. C, Ch. 1, Para. B (p. 221)
- sba.gov/loans/504-loans; SOP 50 10 8.1, Sec. A, Ch. 3, Para. A (p. 51)
- SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.1 (p. 126)
- 13 CFR § 120.214(d)(4); SOP 50 10 8.1, Sec. B, Ch. 2, Para. B.5 (Para. B begins p. 126)
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Cite this page: Small business loans in Billings, MT. SBA Express Loans, Janover Capital LLC (data as of June 30, 2026). https://www.sbaexpress.loans/montana-small-business-loans/billings/
Ask lending partners about a loan in Billings
Tell us what you need and we refer your request to lending partners.
Janover Capital LLC is not a lender and is not the SBA. The lender makes the credit decision. A lender or marketplace may pay us a referral fee if we connect you, at no cost to you. Advertiser disclosure.