About this programme
Montana SSBCI 2.0 is the state's loan participation arm of the federal State Small Business Credit Initiative, reauthorized under the American Rescue Plan Act of 2021 as a response to the economic effects of the COVID-19 pandemic. The Montana Department of Commerce runs it in partnership with participating lenders, Community Development Financial Institutions (CDFIs) or local economic development organizations with revolving loan funds, and primary lenders, the banks and credit unions approved to originate the underlying loans.
The program is meant to help Montana businesses that need extra borrowing capacity to stabilize, pivot, expand or restart, and to support new businesses entering the market. Eligible uses include real estate, equipment, working capital, and financing for non-speculative new businesses.
How it works
The state participates directly in eligible loans alongside a primary lender, typically at a 50% participation rate, up to $1 million per loan. Amounts above $1 million require additional management review showing expected revenue growth, employment increases and market share impact; no transaction over $20 million qualifies.
Interest rates are fixed for the loan term based on amortization length: 0.50% up to 3 years, 1.00% for 3 to 5 years, 1.50% for 5 to 7 years, 2.00% for 7 to 10 years, 2.50% for 10 to 15 years, and 3.00% for 15 to 20 years, with 0.50% added for non-monthly payment schedules. Lender service fees are capped at 0.50%, and CDFI/RLF servicing fees at 0.25% annualized.
A business works with a primary lender or a participating CDFI/RLF, which initiates an online application through the Montana Grant and Loan Portal. A Loan Review Committee evaluates each application for eligibility and suitability, and may request more information before approving or rejecting it.
Who can apply
The borrower must have fewer than 750 employees and be a Montana-based business, existing or new. Speculative businesses do not qualify, and no principal or guarantor may be a registered sex offender (certification required).
How to apply
- Work with a primary lender (bank or credit union) or a participating CDFI/RLF to structure the loan.
- The lender initiates the application online through the Montana Grant and Loan Portal at montana.servicenowservices.com/mtgl.
- The Loan Review Committee reviews the application for eligibility and suitability, and may request additional information.
- The Committee approves or rejects the loan participation.
Documents you’ll typically need
- Sex Offender Certification (participating lender, primary lender, borrower and guarantor)
- 204 EFT Form (participating lender)
- W-9 Form (participating lender)
- Conflict of Interest and Use of Proceeds Form / Certification (participating lender, primary lender, borrower and guarantor)
- CDFI/RLF Loan Servicing Agreement (participating lender) or Lender Loan Servicing Agreement (primary lender)
- Certification Related to SEDI-Owned Businesses (borrower)
- Privacy Act and Demographic Data Collection Form (borrower and guarantor)
Frequently asked
Is Montana SSBCI 2.0 still accepting new loan applications?
Only for recycled funds. The original 2023 federal allocation is fully committed, so applications now draw on repaid loans being reinvested through participating CDFIs and RLFs.
How large can a loan participation be?
Up to $1 million, with the state typically participating at a 50% rate. Loans above $1 million need additional management review, and no transaction over $20 million total is eligible.
What interest rate applies?
A fixed rate set by loan term, from 0.50% for terms up to 3 years to 3.00% for terms of 15 to 20 years, plus 0.50% if payments are not monthly.
How do I apply?
You do not apply directly. Your primary lender or a participating CDFI/RLF initiates the online application on the Montana Grant and Loan Portal on your behalf, and a Loan Review Committee decides.
Who administers the program?
The Montana Department of Commerce. Contacts include Olivia Kettenring (Business Development Manager, 406-841-2737) and Judy Tice (Loan Coordinator, 406-841-2751).
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.