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Buying a Business in Montana

The Numbers

FY2025 Acquisition Loans

40

$42.0M approved

Median Loan

$475k

FY2020 through FY2025

Loans Since FY2020

221

$186M in total approvals

Share of U.S. Activity

0.6%

Of change-of-ownership loans

What the Data Says

Montana ranks 39th of 53 states and territories for change-of-ownership SBA 7(a) lending: 221 loans since FY2020, 0.6% of the national total.

The typical deal runs small: its $475k median loan sits below the $650k midpoint across states, within reach on less equity.

Activity is steady, near the state's ~37 a year pace since FY2020.

The most-financed target is hotels (except casino hotels) and motels (12 loans), and the 5 most active lenders wrote about 38% of the state's acquisitions, a broad lender field.

Most Active Acquisition Lenders in Montana

  1. 1. Glacier Bank28 loans
  2. 2. First Interstate Bank19 loans
  3. 3. The Yellowstone Bank16 loans
  4. 4. Live Oak Banking Company12 loans
  5. 5. Three Rivers Bank of Montana9 loans

A lender being active in Montana does not require a local branch; several top SBA lenders work nationally. Build a shortlist with Lenders.

What Gets Bought in Montana

  • Hotels (except Casino Hotels) and Motels12 loans
  • Gasoline Stations with Convenience Stores11 loans
  • Limited-Service Restaurants10 loans
  • Full-Service Restaurants8 loans
  • All Other Specialty Trade Contractors8 loans

Industry-specific pricing and diligence live in the Guides. Where the buyable targets sit in Montana, by county, is in the Montana buying guide.

By Metro Area in Montana

  • Billings, MT

    49 purchase loans, median $475k. Bought most: Landscaping Services. Most active lender: The Yellowstone Bank (13).

  • Bozeman, MT

    42 purchase loans, median $614k. Bought most: Full-Service Restaurants. Most active lender: First Interstate Bank (5).

  • Helena, MT

    22 purchase loans, median $551k. Bought most: General Automotive Repair. Most active lender: Glacier Bank (6).

Every metro area that drew 20 purchase loans, with three lenders each, is in the metro table.

Method & Source

Computed from the SBA 7(a) FOIA loan-level dataset (FY2020 through FY2025), filtered to approvals flagged change of ownership with a Montana project address. Approvals, not closings; excludes conventional and 504 financing.