Programs and Applications

Business Loan Participation Program

  • Fixed-rate financing up to 25 years.
  • Job creation credits may reduce BOI interest rate up to 2.50%.
  • BOI does not lend directly to businesses.
  • Only Approved Lenders may submit loan reservation and loan application forms.
  • Maximum BOI participation is 80% of lender loan if the loan-to-value is 75% or less.
  • BOI completes a full underwriting credit review.
  • Government guaranteed loans - Fixed rate financing up to 30 years with limited underwriting credit review.

Commercial Loan Program Policy 

Reservation Process

  • Approved Lender completes and submits the loan reservation form.
  • Reservation fee is 0.25% of the BOI 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 BOI.
  • Reservation fee will be taken from the Approved Lender's authorized account via ACH.

Reservation Form 

Application Process

  • Approved Lender completes and submits the Application form.
  • BOI completes a full underwriting credit review.
  • 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 BOI 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.

Infrastructure Loan Policy 

Application Process

  • Local government entity completes and submits the application form.
  • BOI completes a full underwriting review.
  • 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 - Round 1 and Continuing Guidance for additional details.

  * The allocation to the Down Payment Assistance Loan Program - Round 1 is fully reserved.

     Application Process

  • Approved Lender completes and submits the Application form.
  • BOI will complete the credit review.

      Application Form

  • Minimum BOI loan is $100,000 and maximum loan is $1,500,000.
  • BOI will provide a fixed rate loan equal to the current INTERCAP rate at the time of reservation 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 - Round 2 and Continuing Guidance for additional details.

* The allocation to the Down Payment Assistance Loan Progam - Round 2 is fully reserved.

Application Process

  • Approved Lender completes and submits the application form.
  • Applications must be received within 6 months of the reservation, or the reservation will be considered withdrawn, and the reservation fee will not be refunded.
  • BOI will complete a credit review.

Application form 

Intermediary Relending Loan Program

  • Loans made to local economic development organizations.
  • Maximum loan size is $500,000.
  • Applicant must use the BOI 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 BOI accompanied with:
    • The government revolving loan fund application
    • 3 years audited financial statements
    • Interim balance sheet and income statement
    • Detailed aging of loan portfolio

       Intermediary Relending Policy

Value-Added Loan Program

  • BOI does not lend directly to businesses.
  • Only Approved Lenders may submit loan application forms.
  • Maximum 15-year loan term.
  • 10-14 jobs created/retained qualifies for a loan rate at 4% for five years.
  • 15 or more jobs created/retained qualifies for loan rate at 2% for five years.
  • Loan rate is 6% for the second five years.
  • BOI posted rate for the remaining term, but not to exceed 10% a year.
  • Maximum BOI participation is 75% of Lender loan.
  • Minimum loan size of $250,000. 
  • The BOI completes a full underwriting credit review.
  • Total amount allocated for the program is $70 million.

        Value-Added Policy 

Application Process

  • Approved Lender completes and submits the Application form.
  • BOI completes a full underwriting credit review.

Application Form 

Montana Veterans' Home Loan Program

Multi Family Coal Trust Home Program