Department Of Commerce

In 2009 the Montana Legislature approved HB669 to create the Montana Distressed Wood Products Industry Revolving Loan program (WPIRS), in response to the sudden and severe economic downturn of the national economy, lowering the demand for wood products. WPIRS was a federally and state-funded loan fund, providing financial assistance to create or retain jobs for wood products industry businesses, targeting areas of the state where timber jobs were most threatened, particularly in counties with lumber mills and similar facilities. WPIRS is now known as the Wood Products Revolving Loan Fund (WP RLF), and continues to provide funds for businesses in Montana’s wood products industry. 

$11.3 million was originally allocated for loans within Montana’s wood products industry. All original funds have been loaned. Due to the ongoing collection of payments from the loan recipients, the WP RLF continues to have funds available for new loans.

The Montana Wood Products Revolving Loan Fund (WP RLF) provides loans to businesses in the wood products industry to create or retain jobs, targeting areas where timber jobs are most threatened, particularly in counties with lumber mills and other related facilities.

Potential applicants are encouraged to contact WP RLF Program Staff to discuss their proposed project.

Contact

WOOD PRODUCTS REVOLVING LOAN FUND

WP RLF loans are available to individuals, including private contractors, or businesses defined as small businesses pursuant to the regulations promulgated by the United States Small Business Administration pursuant to 13 CFR 121, et seq.

Currently the WP RLF has $3,600,000.00 available for lending.

State WP RLF loans may be used for, but not limited to, the following:

  • Working capital
  • Purchase or lease of land or equipment
  • Updating infrastructure
  • Debt service

The maximum funding amount may not exceed a total loan amount of $2 million with the maximum loan term being fifteen years. Loan recipients may not apply for another WP RLF loan until two years after the date their previous loan was approved.

Application PROCESS

Use the ServiceNow application portal to apply and the program specialist will receive a notification accordingly and start the review process.

OKTA Registration Requirement 

An OKTA account registration is required to access the guidelines and application for the WP RLF program and requires a valid email account.

OKTA Instructions in PDF

Review: MDOC will complete a review of each submitted application. Following review, MDOC may:

  • Request additional information or action from the borrower to obtain the necessary information to approve or reject the application.
  • Approve the application and provide a Commitment Letter/Participation Loan Certificate to the business entity; or
  • Reject the application based on program suitability.

The Review Committee makes funding recommendations to MDOC’s Director, who will make the final funding decision.

Receipt of an application does not imply a commitment for funding from MDOC. The Review Committee will review the applications for eligibility and suitability with state and program requirements.

Application materials submitted to MDOC may be subject to the public’s right to know (Article II, § 9 of the Montana Constitution) as well as Montana’s Public Records Act (§§ 2-6-1001, et seq.)

Application Documents:

These documents are available to be viewed/printed from either the ServiceNow application portal, Word/Excel or the free Adobe Acrobat Reader. If you do not have this reader, click on the link to download a free version - Adobe Acrobat Reader. If you receive errors when opening pdf files make sure you have the latest Acrobat Reader version.

WP RLF Application, Individual Documents:

Apply

Program Status Reports are required by MCA 90-1-503 to be provided to the Economic Affairs Interim Committee:

Wood Products Revolving Loan Fund Program Status Reports available for: