If you’re looking to get a small business loan in Billings, MT, here’s what you should do:

1. Know what you need. Before applying for a loan, get a clear idea of how much money your business needs and how you will use the funds. Doing so can help identify the best type of loan for your needs.
2. Check your credit score. Many lenders in Billings, MT, will look at your credit score when reviewing your application, so knowing where you stand is important. If your score is less than ideal, consider improving it by making timely payments, keeping old accounts open, and limiting new credit applications.
3. Research lenders. Many different types of lenders offer small business loans in Billings, MT, including banks, credit unions, and online lenders. Research to find out which ones best fit your needs and qualifications.
4. Prepare your application. Once you’ve identified potential lenders, prepare your loan application carefully. This may include providing financial statements, tax returns, and other documentation demonstrating your ability to repay the loan.
5. Apply for the loan. If you’ve found a lender you’re comfortable with, it’s time to start your application. The process varies from lender to lender, but essentially, you need to submit your loan application along with the required documents. You also need to prepare to answer any additional questions the lender may have.
6. Wait for a decision. The lender will then review your application and decide whether to approve your loan or not. Funding speed depends on the lender and loan type. Banks usually take weeks or months, while online lenders can fund your business in a day.

Billings, MT

The best place to apply for a business loan in Billings, MT, can vary based on the specific lending needs of your business. Lenders, including banks, credit unions, online lenders, and community development financial institutions (CDFIs), may offer business loans with different terms and interest rates. It is important to compare other loan options to find the best loan for your business.

Business loans are typically designed to help businesses finance their growth, operations, or working capital needs and not to provide a salary for individuals.

The government loan program available for small businesses in Billings, MT, is the Small Business Administration (SBA) loan program. This program provides various types of loans, including 7(a), CDC/504, and microloans, to support small businesses with their financing needs.

The highest amount of funding a business can obtain through a loan in Billings, MT, will depend on a range of factors, including the type of loan, the lender, and the business's specific needs. 

Some lenders may offer higher loan amounts for established businesses with solid financials, while others may specialize in smaller loans or cater to new businesses. The amount of loan a company can receive will generally be determined by the lender's lending requirements, the business's creditworthiness, and the amount of collateral that can be offered.