504 in 406
In 2019, Dakota Business Lending began offering their services to small businesses in rural Montana under the SBA 504 Loan Program Rural Initiative Pilot Program (504 Rural Pilot). After receiving feedback from this program, they found a significant need and opportunity to open up their services to all small business throughout the state, not just in rural areas, and officially became a multi-state CDC serving the entire state of Montana. In 2022, they expanded all their special loan programs to be available across the state.
Impacting Small Businesses Across 406
Our impact is statewide. Take a stroll through these inspiring stories across Montana that capture the essence of why we do what we do by clicking on the stars below.
Meet the 406 Team
Meet Christie, Jo Ann, Molly, and Brandon - the driving forces of 504 in 406! With a passion for assisting small businesses along their entrepreneurial journey, these three are always going the extra mile to set businesses up for success. Collaboration is their strong suit, and they seek to create partnerships that will help you secure the financing you need to start, expand, and truly make an impact.
Whether you're in the beginning stages of planning your startup business or are ready to grow and expand your established business, our 406 team is here for you.
SBA 504 Loan Program in Montana
Dakota Business Lending in Montana offers the SBA 504 loan program - one of the best kept secrets in the small business financing world today. The program can finance long-term fixed assets and offers benefits such as:
Up to 90% financing
10, 20, and 25-year term options
Fixed, below-market interest rates
Minimum 10% down payment
SBA 504 Structure Examples
Depending on the type of business and what the loan will be used for, there are several ways that your loan may be structured.
The typical SBA 504 loan is structured in a 50-40-10 model:
- 50% financed by a third party lender
- 40% financed by Dakota Business Lending and the SBA
- 10% financed by the borrower in the form of a down payment
*Loan structure may vary. Please contact us to learn more & get specific details on your project's structure.
The SBA 504 Loan Program in Action
The real measure of our success and impact is told in the stories of our borrowers: the entrepreneurs and businesses that dared to turn a dream into a plan into a reality. Check out how the SBA 504 loan program helped this therapy practice in Bozeman, MT.
- Ania Bartkowiak discovered her passion for counseling while working as an advocate at Haven in Gallatin County
- Started Green Flag, a therapy practice of her own, in 2016
- The COVID-19 pandemic allowed her to bring more therapists into the practice, but there was no room in their office when they were ready to return to in-person appointments
- Used the SBA 504 loan program to purchase and renovate a building to include 6 office suites
- Now has 5 more therapists and can serve an additional 35 people in Bozeman and Gallatin County
Other Loan Programs
In 2022, Dakota Business Lending expanded all their special loan programs to be available across the state. Learn more about these additional programs and the financing opportunities they offer for small business owners.
Borrower Resources
There are a variety of FREE resources and programs available for small businesses throughout Montana. Here are a few that we commonly refer our borrowers to for entrepreneurial development resources such as education, training, and technical assistance:
The Small Business Administration (SBA) website also contains a wealth of information on starting and running a business, including:
Lender Resources
Are you wanting to know more about the SBA 504 loan program and if it's the right fit for your borrower? Download our resources below to get an overview of the SBA 504 / Debt Refinance programs and their requirements.
Meet the Montana Loan Review Committee
In order to better serve the state of Montana, Dakota Business Lending has created a separate loan committee for their Montana office comprised of representatives from various sectors in business, lending, and economic development throughout the state.
Phone
406-760-1002 (Central & Eastern MT)
406-540-5708 (Western MT)
406-898-4856 (Southwestern MT)
Address
544 E Main St,
Bozeman, MT 59715
