Montana State Small Business Credit Initiative 2.0 Loan Participation Program (MT SSBCI 2.0 LPP)

The American Rescue Plan Act of 2021 (ARPA) reauthorized and amended the Small Business Jobs Acts of 2010 (SBJA) to provide $10 billion to fund the State Small Business Credit Initiative (SSBCI) 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 are organizations that are Certified Development Financial Institutions or local economic development organizations with a revolving loan fund (CDFI/RLFs) 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 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 1.25.2024)

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
  • 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%)
  • 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 Funds Available:
$            24,922,660.37
3rd Tranche Funds Obligated:
$             17,928,560.00
Remaining Funds Available:
$               6,994,100.37

MT SSBCI 2.0 LPP Tranche 3 Application Cycle:

The application portal will be open August 16, 2024, and will close on September 16, 2024. The initial review date of all submitted applications will be September 25, 2024, and subsequent review sessions will be scheduled as need and will depend on the number of applications received.

All application determinations, approved or denied, will be promptly provided to the Participating Lenders.


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

Anaconda Local Development CorporationAnaconda Local Development Corporation
118 East 7th Street
Anaconda, MT 59711

Bear Baw Development CorporationBear Paw Development Corporation
300 2nd Ave
P.O. Box 170
Havre, MT 59501

Beartooth LogoBeartooth Resource Conservation & Development
128 So Main St.
PO Box 180
Joliet, MT 59041

Big Sky Economic Development CorporationBig Sky Economic Development
201 N. Broadway
Billings, MT 59101

Butte Local Development CorporationButte Local Development Corporation
65 East Broadway Street 5th floor
Butte MT, 59701

Dakota Business Lending logoDakota Business Lending
207 W. Main St. Ste. 2, Office 4
Lewistown, MT 59457

 Eastern Plains Economic Development CorporationEastern Plains Economic Development Corporation
PO Box 321
Baker, MT 59313

Great Falls Development AuthorityGreat Falls Development Authority
405 3rd Street NW, Suite 203
Great Falls, MT 59404

 Great Northern Development CorporationGreat Northern Development Corporation
233 Cascade Street
Wolf Point, MT 59201

Headwaters LogoHeadwaters RC&D
65 East Broadway Street 5th Floor
Butte, MT 59701

Lake County Community Development Corporation dba Mission West Community Development PartnersLake County Community Development Corporation
dba Mission West Community Development Partners
407 Main Street SW
P.O. Box 128
Ronan, MT 59864-0128

Montana Business Assistance Connection, Inc.Montana Business Assistance Connection, Inc.
225 Cruse Avenue, Suite D
Helena, MT 59601-5011

229 E Main Street
Missoula, MT 59802

Montana West Economic DevelopmentMontana West Economic Development
44 2nd Avenue West
Kalispell, MT 59901

Prospera Business NetworkProspera Business Network
865 Technology Blvd, Suite A
Bozeman, MT 59718

Ravalli County Economic Development Authority Ravalli County Economic Development Authority
274 Old Corvallis Road, Suite A
Hamilton, MT 59840

SMDCNew.pngSnowy Mountain Development Corporation
507 West Main Street
Lewistown, MT 59457

Southeastern Montana Development CorporationSoutheastern Montana Development Corporation
6200 Main Street
Colstrip, MT 59323

sweetgrass-development-logo.pngSweetgrass Development
521 1st Avenue NW
Great Falls, MT 59404


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 Primary 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, approve, or reject the application. Receipt of an application does not imply a commitment for funding. The application portal will close when the loan pipeline waiting approval is equivalent to the available funding. In the event of surplus funding identified following the loan pipeline review, the ServiceNow application portal will promptly reopen. Primary Lenders enrolled in the program will receive a notification accordingly. 

Applications must be completed online by the Primary Lender through the ServiceNow application portal located at

Primary Lenders will be required to create an Okta profile, which requires a valid email account. Okta is located at

Montana Grant and Loan Portal Login (Okta) Instructions

Montana Grant and Loan Portal Login (Okta) Video Instructions

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

PO Box 200505
301 South Park Avenue
Helena MT 59620-0505