Business financing in Teton County.

Small business financing is money you borrow — or sometimes receive as a grant — to start, run, or grow a business. It can cover equipment purchases, inventory, a vehicle for your contracting work, a down payment on a rental property, or simply keeping cash flow steady through a slow season.

Financing comes in several forms:

• **Term loans** — You borrow a fixed amount and pay it back over months or years, with interest.

• **Lines of credit** — You are approved for a maximum amount and draw on it only when you need it. You pay interest only on what you use.

• **Microloans** — Smaller loans, often under $50,000, designed for very small or new businesses. These are frequently offered by nonprofits and CDFIs (Community Development Financial Institutions) rather than traditional banks.

• **Equipment financing** — A loan tied specifically to a piece of equipment, which often serves as its own collateral.

• **SBA-backed loans** — Loans made by a local bank or credit union, but partially guaranteed by the U.S. Small Business Administration. The guarantee encourages lenders to say yes to borrowers they might otherwise turn down.

• **Grants** — Money you do not have to repay, though they are competitive and often come with specific requirements.

For most small contractors and investors in Teton County, the most practical entry points are microloans, SBA 7(a) loans through a local lender, and lines of credit from a community bank or credit union.

Teton County is a rural, agriculture-driven community anchored by Choteau (the county seat), with an economy built around farming, ranching, small retail, construction trades, and tourism tied to the Rocky Mountain Front. This shapes who lenders expect to serve — and it works in your favor if you are in one of those industries.

**General eligibility signals lenders look for:**

• You operate or plan to operate a for-profit business in Montana.

• You have some personal investment in the business (lenders want to see you have skin in the game).

• You have a demonstrable ability to repay — through business revenue, a job, rental income, or a combination.

• You have no recent unresolved bankruptcies or federal tax liens (though some CDFIs work with people rebuilding their credit).

**If you do not have a Social Security Number:**

Some lenders in Montana accept an ITIN (Individual Taxpayer Identification Number) in place of an SSN. This is important for immigrants who file U.S. taxes but are not yet citizens or permanent residents. Lenders who work with ITIN borrowers are identified in Section 4 of this guide.

**Agriculture and ranching businesses** in Teton County may also qualify for USDA Farm Service Agency (FSA) operating loans or the USDA Rural Development Business & Industry (B&I) loan guarantee — programs tailored to rural counties like Teton.

**Construction contractors** are a common borrower type in the area. If you are sole proprietor doing residential or agricultural work, you can still qualify for a microloan or equipment loan even if your business is only a year or two old.

Every lender has its own checklist, but gathering these items before you start any application will save you time and frustration.

**For personal identification and taxes:**

• Government-issued photo ID (driver's license, passport, or consular ID card)

• Social Security Number OR ITIN, depending on the lender

• Personal federal tax returns for the past 2–3 years (Form 1040)

• Personal bank statements for the past 3–6 months

**For your business:**

• Business tax returns for the past 2–3 years (if the business has been operating that long)

• Profit and loss statement (a simple summary of income and expenses)

• Business bank statements for the past 3–6 months

• Business licenses or contractor registrations (Montana requires contractor registration through the Montana Department of Labor and Industry)

• Articles of organization or incorporation, if you have an LLC or corporation

**For the loan purpose:**

• A brief written explanation of what you need the money for and how you will pay it back (some lenders call this a business plan; for microloans it can be just one or two pages)

• Quotes or invoices for equipment, materials, or property you plan to purchase

• If real estate is involved: a recent appraisal or purchase agreement

**Tip:** If your records are not perfectly organized, do not let that stop you from making a first call. Many CDFIs and nonprofit lenders will sit down with you and help you figure out what you have and what you still need. That is part of their mission.