Glacier Bancorp tops number of SBA loans approved last year

Print Article

Glacier Bancorp, headquartered in Kalispell, made the largest number of U.S. Small Business Administration guaranteed loans during the fiscal year from Oct. 1, 2016 through Sept. 30, 2017.

The entire Glacier Bancorp Montana division approved 50 SBA-guaranteed loans totaling $7,144,900.

First Interstate Bank lead in dollars loaned, with $16,735,519.

Three Rivers Bank of Montana approved 18 loans totaling just over $7.8 million. Rocky Mountain Bank approved five loans totaling $1.5 million, and Freedom Bank of Columbia Falls approved four SBA loans totaling $536,200.

Figures released SBA’s Montana District Office show the federal agency guaranteed 287 small business loans in Montana last year totaling $97,260,419. Of these loans, 268 for $86 million were made through SBA’s 7(a) Guaranty Loan Program, which provides short- or long-term financing for small business start-up or expansion needs.

Nineteen loans totaling $11 million were made through SBA’s 504 Certified Development Company program, providing long term fixed rates financing for land, buildings and equipment.

Fitness and recreational sports centers, full- and limited-service restaurants, mobile food services and hotels/motels were among the most frequently financed businesses during the fiscal year. Of the 287 loans, 59 loans totaling $10,182,800 were made to women-owned businesses, 15 loans totaling $3,731,500 were made to veterans, and 21 loans totaling $4,188,019 were made to minority business owners.

“Montana is well-known for being one of the best places in the country to start a small business,” said Wayne Gardella, SBA district director for Montana. “Out of the 287 loans that were guaranteed by the SBA, 50 percent were made to new/startup businesses, while 144 existing businesses received $63,107,700 in SBA guaranteed funding across the state.”

Print Article

Read More

Norman T. Bouchey, 83

October 16, 2018 at 6:00 am | Daily Inter Lake Norman T. Bouchey, 83, was born April 17, 1935, to Ernest and Helen Bouchey in Helena. He succumbed to leukemia Sept. 28, 2018. Norman was educated in Missoula and Helena and graduated high school ...

Comments

Read More

Rise and shine, or I’ll call the police

October 16, 2018 at 6:00 am | Daily Inter Lake A parent called Kalispell Police when their 9-year-old child refused to get out of bed for school. Someone reported watching a teenaged boy scrape a parked vehicle with his car and drive off before ...

Comments

Read More

Final Wild and Scenic Rivers plan meeting is Wednesday

October 16, 2018 at 6:00 am | Daily Inter Lake Among designated Wild and Scenic Rivers in the United States, the three forks of the Flathead River offer especially remarkable wildness, scenery and recreational opportunities, according to the fede...

Comments

Read More

Changes considered for tricky junction

October 16, 2018 at 6:00 am | Daily Inter Lake Today, 18th Street’s layout between its crossing of Airport Road and 1st Avenue West resembles a dogleg. The road doesn’t shoot straight through from U.S. 93. That skewed configuration presents a d...

Comments

Read More

Contact Us

News: (406) 837-5131
Advertising: 406-758-4410
Bigfork Eagle
c/o Daily Inter Lake
PO Box 7610
Kalispell, MT 59904

©2018 Bigfork Eagle Terms of Use Privacy Policy
X
X