Programs and Applications

Direct Loan Participation Program

  • Fixed-rate financing up to 25 years with interest rates posted weekly
  • Maximum participation amount is approximately $80 million (10% of Trust)
  • Maximum Board participation is 80% if Board loan participation is less than 6% of Trust
  • Maximum Board participation is 70% if Board loan participation is more than 6% of Trust
  • Job creation credits may reduce posted interest rate up to 2.5%
  • Full underwriting review

Guaranteed Loan Participation Program

  • Fixed-rate financing up to 30 years with interest rates posted weekly
  • Job creation credits may reduce posted interest rate up to 2.5%
  • No detailed credit review by Board

    Application: Word | PDF

Reservation Fee Form

  • Reservation fee is 0.25% of the Board participated amount.
  • Submission of reservation form and payment of fee locks an interest rate and reserves funds for one year.
  • Interest rate is locked as the date on the reservation form is received by the Board.
  • Reservation fee will be taken from approved lender's authorized account via ACH.
  • Reservation fee form must be signed by approved lender.

        Reservation Fee Form: Word | PDF

 

 

  • Loans to local government for infrastructure improvement used by basic sector businesses
  • Business for which infrastructure is provided must create at least 15 full-time jobs
  • Loan sized at number of new qualifying jobs created times $16,666. Minimum loan size is $250,000
  • Business pays local government use fee, which is assigned to Board for loan repayment
  • Use fee can be credited against Montana income taxes paid by business, 17-6-316, MCA
  • Full underwriting credit review
  • Total amount allocated for this program is $80 million
Application: Word | PDF
  • Minimum BOI loan is $100,000 and maximum loan is $3,000,000
  • BOI will provide a zero-interest loan on a maximum of 30% of the loan to value and will be in a junior lien on the collateral
  • BOI loan repayments do not begin until January 2027
  • The Lender will provide a minimum of 65% of the loan to value and will be in a senior lien on the collateral
  • Business must provide at least 5% of the loan to value
  • Please see the Terms and Conditions and Continuing Guidance for additional details
     

        Current Approved/Unapproved Reservations as of March 10, 2022 at 4:00 PM MST  (updated daily):

         Rural/Disadvantaged Reservations total: $   9,250,000.00
         Other Reservations total:                            $ 27,750,000.00   (Max. $27.75 million)
         Total:                                                              $ 37,000,000.00   (Total program: $37 million)*

       
      * The allocation to the Down Payment Assistance Loan Program is fully reserved.

      Application

Intermediary Relending Loan Program

  • Loans made to local economic development organizations
  • Maximum loan size is $500,000
  • Applicant must use the Board Intermediary Relending Loan Program loan as matching funds toward other government revolving loan funds
  • Interest rate of 2% for 30 year term
  • Interest only for the first three years, then principal and interest for the remaining 27 years
  • Full underwriting credit review
  • Total amount allocated for the program is $10 million
  • Application is made by letter to the Board accompanied with:
    • The government revolving loan fund application
    • 3 years audited financial statements
    • Interim balance sheet and income statement
    • Detailed aging of loan portfolio

Value-Added Loan Program

  • Maximum 15-year loan term
  • Jobs created/retained must be by a business adding value to materials/products
  • 0-9 jobs created/retained qualifies for the Board posted rate
  • 10-14 jobs created/retained qualifies for a loan rate at 4% for five years
  • 15 or more jobs created/retained qualifies for a loan rate at 2% for five years
  • 6% for the second five years
  • Board posted rate for the remaining term
  • Board participates with lender in 75% of the funding, risk, collateral, and other security
  • Minimum loan size is $250,000. Maximum participation amount is approximately $8 million (1% of Trust)
  • Full underwriting credit review
  • Total amount allocated for this program is $70 million

         Application: Word | PDF

Montana Veterans' Home Loan Program

Multi Family Coal Trust Home Program