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Montana State Small Business Credit Initiative 2.0

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The American Rescue Plan Act of 2021 reauthorized and amended the Small Business Jobs Acts of 2010 to provide $10 billion to fund the State Small Business Credit Initiative as a response to the economic effects of the COVID-19 pandemic. SSBCI is a federal program administered by the Department of the Treasury that was created to strengthen state programs that support private financing to small businesses. SSBCI is expected to create billions of dollars in lending and investments to small businesses that are not getting the support they need to expand and create jobs.

The MT SSBCI 2.0 LPP will be used to assist existing Montana businesses that need additional borrowings to stabilize, pivot, expand or re-start their business and to assist new Montana businesses entering the market. The MT SSBCI 2.0 LPP will partner with approved economic development organizations throughout the state to identify businesses in their regions that could benefit from the program. The program is structured to participate directly in a lender loan at a participation rate of 50%. MT SSBCI 2.0 LPP participation will occur via a participating lender.


Program Partners

Participating lenders 

Participating lenders are organizations that are Community Development Financial Institutions or local economic development organizations with a revolving loan fund that are approved to participate in the MT SSBCI 2.0 LPP. Approved CDFI/RLFs must execute an MT SSBCI 2.0 LPP CDFI/RLF Loan Servicing Agreement and adhere to the terms and conditions contained therein. Please contact program staff to become an approved participating lender.

Primary lenders 

Primary lenders are approved lenders, such as banks or credit unions, that must execute an MT SSBCI 2.0 LLP Lender Loan Servicing Agreement and adhere to the terms and conditions contained therein. Please contact program staff to become an approved primary lender.

Loans eligible for MT SSBCI 2.0 LPP participation include, but are not limited to, real estate, equipment, working capital and non-speculative new businesses.

MT SSBCI 2.0 LPP Policy (Revised Jan. 31, 2025)

Borrower and Loan Size Requirements:

  • Eligible borrowers must have fewer than 750 employees.
  • The MT SSBCI 2.0 LPP maximum participation amount is $1 million. 
  • If the primary and participating lenders feel a project warrants a participation amount of more than $1 million, it can be presented to program staff agency management for consideration. It must demonstrate revenue growth, an employment base increase and a positive market share impact.
  • The MT SSBCI 2.0 LPP will not provide credit if a given transaction exceeds $20 million.

Interest Rates

The interest rate on the MT SSBCI participated portion of the loan is based on the amortization period of the loan. The interest rate on the MT SSBCI portion of funds will be fixed for the term of the loan as follows:

  • Up to 3-year term with monthly payments – 50 basis points (0.50%)
  • 3-year up to 5-year term with monthly payments – 100 basis points (1.00%)
  • 5-year up to 7-year term with monthly payments – 150 basis points (1.50%)
  • 7-year up to 10-year term with monthly payments – 200 basis points (2.00%)
  • 10-year up to 15-year term with monthly payments – 250 basis points (2.50%)
  • 15-year to 20-year term with monthly payments – 300 basis points (3.00%)
  • Any intermediate term amortization will be at the next tier higher interest rate.
  • If amortization other than monthly, the MT SSBCI 2.0 LPP interest rate will be increased by 50 basis points (0.50%).
  • The lender service fee cannot exceed 50 basis points (0.50%).
  • The servicing CDFI/RLF will be assessed an annualized 25 basis points (0.25%) service fee by MT SSBCI 2.0 LPP. The fee will be assessed on the calendar quarter on the balances of all outstanding loans.

 

 
Total SSBCI 2.0 Funds Awarded:
$59,148,211.55
SSBCI 2.0 Funds Committed: $57,298,980.68
Remaining Funds Available: $1,849,230.87
SSBCI 2.0 Recycled Funds Available: Contact CDFI/RLFs - Recycled directly for available balances.

The following are approved participating lenders (CDFI/RLFs) with recycling funds:

Beartooth Resource Conservation & Development

128 S. Main St.

P.O. Box 180

Joliet, MT 59041

406-962-3914

beartooth.org


Big Sky Economic Development

201 N. Broadway

Billings, MT 59101

406-256-6871

bigskyeconomicdevelopment.org


Great Falls Development Authority

405 3rd St. NW, Suite 203

Great Falls, MT 59404

406-564-0957

growgreatfallsmontana.org


Lake County Community Development Corporation
dba Mission West Community Development Partners

407 Main St. SW

P.O. Box 128

Ronan, MT 59864-0128

406-676-5901

missionwestcdp.org


Montana Business Assistance Connection, Inc.

225 Cruse Ave., Suite D

Helena, MT 59601-5011

406-447-1510

mbac.biz


MoFi

229 E. Main St.

Missoula, MT 59802

406-728-9234

mofi.org


Montana West Economic Development

44 2nd Ave. West

Kalispell, MT 59901

406-257-7711

dobusinessinmontana.com


Prospera Business Network

865 Technology Blvd., Suite A

Bozeman, MT 59718

406-587-3113

prosperabusinessnetwork.org


Snowy Mountain Development Corporation

507 W. Main St.

Lewistown, MT 59457

406-535-2591

snowymountaindevelopment.com


Southeastern Montana Development Corporation

6200 Main St.

Colstrip, MT 59323

406-748-2990

semdc.org


Sweetgrass Development

521 1st Ave. NW

Great Falls, MT 59404

406-727-5173

sweetgrassdevelopment.org

 

The following are approved Participating Lenders (CDFI/RLFs):


Anaconda Local Development Corporation

118 E. 7th St.

Anaconda, MT 59711

406-563-5538

anacondadevelopment.org


Bear Paw Development Corporation

300 2nd Ave.

P.O. Box 170

Havre, MT 59501

406-265-9226

bearpaw.org


Beartooth Resource Conservation & Development

128 S. Main St.

P.O. Box 180

Joliet, MT 59041

406-962-3914

beartooth.org


Big Sky Economic Development

201 N. Broadway

Billings, MT 59101

406-256-6871

bigskyeconomicdevelopment.org


Butte Local Development Corporation

65 E. Broadway St., 5th Floor

Butte, MT 59701

406-723-4349

bldc.net


Dakota Business Lending

207 W. Main St., Ste. 2, Office 4

Lewistown, MT 59457

406-760-1002

dakotabusinesslending.com


Eastern Plains Economic Development Corporation

P.O. Box 321

Baker, MT 59313

406-853-6471

epedc.com


Great Falls Development Authority

405 3rd St. NW, Suite 203

Great Falls, MT 59404

406-564-0957

growgreatfallsmontana.org


Great Northern Development Corporation

233 Cascade St.

Wolf Point, MT 59201

406-653-2590

gndc.org


Headwaters RC&D

65 E. Broadway St., 5th Floor

Butte, MT 59701

406-723-4349

headwatersrcd.org


Lake County Community Development Corporation
dba Mission West Community Development Partners

407 Main St. SW

P.O. Box 128

Ronan, MT 59864-0128

406-676-5901

missionwestcdp.org


Montana Business Assistance Connection, Inc.

225 Cruse Ave., Suite D

Helena, MT 59601-5011

406-447-1510

www.mbac.biz


MoFi

229 E. Main St.

Missoula, MT 59802

406-728-9234

mofi.org


Montana West Economic Development

44 2nd Ave. West

Kalispell, MT 59901

406-257-7711

dobusinessinmontana.com


Prospera Business Network

865 Technology Blvd., Suite A

Bozeman, MT 59718

406-587-3113

prosperabusinessnetwork.org


Ravalli County Economic Development Authority

274 Old Corvallis Road, Suite A

Hamilton, MT 59840

406-375-9416

rceda.org


Snowy Mountain Development Corporation

507 W. Main St.

Lewistown, MT 59457

406-535-2591

snowymountaindevelopment.com


Southeastern Montana Development Corporation

6200 Main St.

Colstrip, MT 59323

406-748-2990

semdc.org


Sweetgrass Development

521 1st Ave. NW

Great Falls, MT 59404

406-727-5173

sweetgrassdevelopment.org

Eligible businesses may work with either their primary lender or participating lender to decide whether to proceed with a loan application. If the business decides to proceed, the participating lender initiates the application process. Once the application is submitted, the Loan Review Committee will review the applications for eligibility and suitability with state and program requirements. The committee may request additional information or approve or reject the application. Receipt of an application does not imply a commitment for funding. Beginning March 10, 2025, the application to utilize recycled SSBCI 2.0 funds for new investments will open and will remain open for the duration of the program, with capital availability contingent on repayments from existing borrowers. The application for remaining SSBCI 2.0 program funds will open on May 20, 2025, and run through June 30, 2025. In the event of surplus funding identified following the loan pipeline review, the ServiceNow application portal will promptly reopen. Participating lenders enrolled in the program will receive a notification accordingly. 

Applications must be completed online by the participating lender through the ServiceNow application portal located at montana.servicenowservices.com/mtgl.

Primary lenders may be required to create an Okta profile, which requires a valid email account. Okta is located at okta.loginmt.com.

Montana Grant and Loan Portal Login (Okta) Instructions

Montana Grant and Loan Portal Login (Okta) Video Instructions

Participating Lender (CDFI/RLF) Required Forms:

  • CDFI/RLF Sex Offender Certification
  • 204 EFT Form
  • W-9 Form
  • CDFI/RLF Conflict of Interest and Use of Proceeds Form
  • MT SSBCI 2.0 CDFI-RLF Loan Servicing Agreement

Primary Lender Required Forms:

  • Lender Use of Proceeds and Conflict of Interest Certification
  • Lender Sex Offender Certification
  • MT SSBCI 2.0 Lender Loan Servicing Agreement

Borrower Required Forms:

  • Borrower Use of Proceeds and Conflict of Interest Certification
  • Borrower Sex Offender Certification
  • Borrower Certification Related to SEDI-Owned Businesses

Guarantor Required Forms:

  • Guarantor Use of Proceeds and Conflict of Interest Certification
  • Guarantor Sex Offender Certification
  • Privacy Act and Notice and Demographic - Related Data Collection Form

Treasury SSBCI Reference Documents:

  • Treasury SSBCI Policy Guidelines (Updated Oct. 4, 2024)
  • Treasury SSBCI FAQs (Updated Dec. 17, 2024)

MONTANA SSBCI REFERENCE DOCUMENTS

  • SSBCI Access Flow Chart
  • SSBCI Transaction Level Program

Video - MT SSBCI 2.0 Webinar: NABA Collaboration - June 28, 2024

MT SSBCI 2.0 LLP CDFI/RLF Training - Sept. 8, 2022 Handout materials (Revised Oct. 12, 2022)

SSBCI Access Flow Chart

SSBCI Transaction Level Program

Olivia Kettenring, Business Development Manager
Phone: 406-841-2737

Judy Tice, Loan Coordinator
Phone: 406-841-2751

Jamie LeMieux, Program Specialist
Phone: 406-841-2884


P.O. Box 200505
301 S. Park Ave.
Helena, MT 59620-0505

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