First Interstate Bank has been named a 7(a) Dollar Volume Lender of the Year by the U.S. Small Business Administration’s (SBA) Montana District Office.
With $10,442,300 in SBA 7(a) loans made during the 2022 SBA fiscal year, First Interstate is proud to earn this award by providing important capital through SBA’s loan programs. The SBA issues its rankings annually, based on the number of loans and loan amounts originated by banks in the SBA fiscal year, which runs from October 1 to September 30 of the previous year.
"Our teams throughout Montana are there to help businesses with their next chapter," said Jeffrey McGough, SBA Lending Specialist for First Interstate. "We believe that to be strong corporate citizens, it is our responsibility to ensure our communities thrive, and we are incredibly honored to receive this award."
The 7(a) loan program is the SBA’s primary program for providing financial assistance to small businesses and offers guarantees on loans to small businesses of up to $5 million on reasonable terms and conditions. SBA 7(a) loans are commonly used for acquiring land, purchasing equipment, or working capital. First Interstate Bank is an SBA Preferred Lender and strives be a top 100 SBA lender in the country.
As a community bank, First Interstate's focus is and always will be on answering the needs of clients with practical financial solutions while supporting the communities we serve through business development and philanthropy. Contact our robust team of lending experts who are ready to partner with you for the next stage in your business’ success story.