Business financing in Yellowstone County.

Business financing is money you borrow or receive to start, grow, or stabilize a business. It can take many forms: a term loan you repay over time, a line of credit you draw from as needed, a microloan for smaller amounts, or even a grant you don't have to pay back.

Federal programs like SBA loans set the rules of the road, but they are almost always delivered through local lenders — banks, credit unions, and nonprofit lenders called CDFIs (Community Development Financial Institutions). That local layer matters enormously.

A local CDFI in Billings understands the seasonal rhythms of agriculture and energy work.

A credit union whose members live in Yellowstone County has a real stake in your success. This guide focuses on those local organizations because they are often the fastest, most flexible, and most forgiving path to capital for small businesses.

Yellowstone County's economy is built around several pillars: agriculture and ranching, the oil-and-gas supply chain, healthcare (Billings Clinic and St. Vincent Healthcare are major employers), trucking and logistics, construction contracting, and a growing retail and food-service sector.

Most local lenders and CDFIs will look at these core factors:

• **Time in business** — Many conventional lenders want to see at least one to two years of operating history. CDFIs and microfinance programs often work with businesses that are newer, including startups.

• **Credit history** — A score above 620 helps, but several local lenders work with people who have thin or damaged credit. If you have no Social Security Number, ITIN-based lending is available (see Section 4).

• **Revenue and cash flow** — Even simple bank statements showing steady income can substitute for formal financial statements at some CDFIs.

• **Purpose of the loan** — Working capital, equipment, real estate, and inventory are all common qualifying purposes in Yellowstone County.

• **Sector fit** — Agricultural businesses may qualify for USDA programs layered on top of local financing. Construction contractors often benefit from equipment-specific loan products.

You do not need to be a U.S. citizen to qualify for many of these programs. Residency in Montana and a demonstrated connection to the local economy are often what matter most.

Every lender has its own checklist, but gathering these items before you apply will prepare you for almost any institution in Yellowstone County:

**For your business:**

• Business license or registration with the Montana Secretary of State

• Last two years of business tax returns (or personal returns if your business is a sole proprietorship)

• Three to six months of business bank statements

• A simple profit-and-loss statement (a spreadsheet is fine for CDFIs and microloans)

• A brief description of what the loan will be used for

**For you personally:**

• Government-issued photo ID (passport, driver's license, or Matricula Consular)

• Social Security Number or Individual Taxpayer Identification Number (ITIN)

• Last two years of personal tax returns

• Personal financial statement (some lenders provide a form)

**For real-estate or equipment loans, add:**

• Property address and a recent appraisal or purchase agreement

• Equipment quotes from vendors

**Tip:** CDFIs and credit unions are generally more flexible about document formats. If you keep your records in a notebook or a simple spreadsheet, bring it — they are used to working with small operators.