SBA loans by state
SBA loans in Montana: 166 approvals in FY 2026, median $271,850
23% of loans financed the purchase of a business. No lender dominated: the busiest made 10% of loans.
Independent site, not a lender and not affiliated with the U.S. Small Business Administration. Loans are applied for only with an SBA lender.
Your loan against approvals in your state
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Montana: 7(a) loans approved last year
166
| Your rate vs. last year’s loans of this size, all states | about the median for this size |
| Montana: median rate at approval, $250,001 to $350,000 | 9.38% |
| Montana: median 7(a) loan last year | $271,850 |
| Payment over 10 years, SBA fee added to the loan | $3,637/mo |
Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026. Rates at approval were set when prime was 6.75% or 7.00%; today: prime rate 7.00% on November 2, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you.
Montana, FY 2026: 166 SBA 7(a) approvals for $124.5 million (43rd of the 50 states and DC, SBA file of September 30, 2026). 23% of loans financed the purchase of a business. No lender dominated: the busiest made 10% of loans. The state used 504 loans heavily: 40 approvals for $26.2 million. Express was used for only 20% of loans. 21% of loans ran 15 years or longer. Credit lines were only 13% of approvals. 47 lenders were active, a wide field for the volume. The median loan, $271,850, was the 12th largest of the 50 states and DC. Franchises took 19% of loans. Only 7% of variable loans sat at the SBA maximum. Few approvals were cancelled, 10%. Today’s cap on a $272,000 variable loan: 11.50%.
Fee notices read and loan file counted by Radif Partners · Editorial policy · Method and sources
| Lender | FY 2026 loans | Median loan | Median variable rate | Lender’s home state |
|---|---|---|---|---|
| Glacier Bank | 17 | $268,700 | 7.50% | Montana (in-state) |
| U.S. Bank | 13 | $50,000 | n/a | Ohio |
| Yellowstone Bank | 12 | $210,850 | n/a | Montana (in-state) |
| First Interstate Bank | 9 | $150,000 | n/a | Montana (in-state) |
| Bravera Bank | 8 | $177,750 | n/a | North Dakota |
A market for business buyers
Acquisitions took 23% of Montana’s SBA loans, the highest among the 50 states and DC. Each followed SBA’s rules for buying a business, with their own requirements on the buyer’s equity, the valuation and any seller note.
No single lender dominates
The busiest lender in Montana, Glacier Bank, made only 10% of loans, a top-lender share 4th lowest among the 50 states and DC, and the five busiest together 36%. 47 lenders took part.
A leading 504 state
Relative to its 7(a) volume, Montana uses 504 debentures more than almost anywhere: 40 of them for $26.2 million, a ratio to 7(a) loans 5th highest among the 50 states and DC. Dakota Business Lending arranged 14 on its own. Building owners here can count on a CDC that knows the local market.
Express is rarely used
SBA Express made up only 20% of Montana’s approvals, 6th lowest among the 50 states and DC. Preferred Lenders took 70% and loans processed by SBA itself 8%, so most borrowers here get the full 85% or 75% guaranty.
| Loan size | Loans | Median variable rate, FY 2026 | SBA maximum today |
|---|---|---|---|
| $50,000 or less | 26 | 11.37% | 13.50% |
| $50,001 to $250,000 | 54 | 9.75% | 13.00% |
| $250,001 to $350,000 | 20 | 9.38% | 11.50% |
| over $350,000 | 66 | 8.25% | 10.00% |
Real estate loans weigh heavily
21% of Montana’s loans ran 15 years or more, 3rd highest among the 50 states and DC. Those long loans are the only ones exposed to SBA’s 5-3-1 prepayment fee.
Credit lines are scarce
Only 13% of Montana’s SBA approvals were revolving lines, 5th lowest among the 50 states and DC. Term loans with a fixed repayment schedule make up the rest.
More lenders per loan than most states
47 lenders made Montana’s 166 loans. For that many loans, its number of lenders is the 4th highest among the 50 states and DC. Shopping the same project to three or four of them is realistic here.
Larger loans than most states
The median Montana approval was $271,850, 12th of the 50 states and DC ($220,000 nationally). At that size the variable cap is prime plus 4.5 points, 11.50% today, and the FY 2027 guaranty fee on the median loan is $6,117.
Counties with the most approvals: Gallatin (34), Yellowstone (32) and Flathead (29). Trades: hotels and motels (9), limited-service restaurants (6), plumbing, heating, and air-conditioning contractors (6), fitness and recreational sports centers (5) and snack and nonalcoholic beverage bars (5).
All states compared.