Small Business Administration

Internet Address
 Montana District Office
SBA Federal Site

The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building Americas future, and to helping the United States compete in todays global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. We help Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

The SBA administers numerous business finance and technical assistance programs. The title is a direct link to the Business Finance Section of the SBA web page. It provides detailed information on the variety of SBA business finance programs such as the 7(a) guarantee for bank loans to small businesses. Most SBA programs work through local banks but several are available locally through economic development corporations.

Following is a link to the Montana Small Business Development Centers web page. The closest center to you can provide business planning and technical assistance with SBA application processes and other business related issues.

Certified Development Companies - SBA 504

The 504 Certified Development Company (CDC) Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. A Certified Development Company is a nonprofit corporation set up to contribute to the economic development of its community or region. CDCs work with the SBA and private-sector lenders to provide financing to small businesses. There are about 290 CDCs nationwide. Each CDC covers a specific area.

The state-wide SBA 504 fixed asset financing program location:

Montana Community Finance Corporation
Linda Kindrick
PO Box 916
Helena, Montana 59601
Phone: (406) 443-3261
Fax: (406) 449-5678
Email: linda@mtcommunityfinance.org

There are also two new SBA 504 Local CDC Organizations

John Kramer
High Plains Financial Inc.
PO Box 2568
Great Falls, MT 59401
Phone: 406-454-1934

Joe McClure, Executive Director
Big Sky Economic Development Corp.
222 North 32nd Street, Suite 200
Billings, MT 59101-1948
Phone: (406) 256-6871

Preferred/Certified Lenders

Certified lenders are those who have been heavily involved in regular SBA loan-guaranty processing and have met certain other criteria. They receive a partial delegation of authority and are given a three-day turnaround by the SBA on their applications (they may also use regular SBA loan processing). Certified lenders account for nearly a third of all SBA business loan guaranties.

Approved MicroLoan Participants

The MicroLoan Program was developed to increase the availability of very small loans to prospective small business borrowers. Under this program, the SBA makes funds available to nonprofit intermediaries, who in turn make loans to eligible borrowers in amounts that range from under $100 to a maximum of $25,000. The average loan size is $10,000. Completed applications can usually be processed by the intermediary in less than one week.