Montana Wood Products Revolving Loan Program
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.
State Wood Products Revolving Loan Fund
State 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 State WP RLF has $3,047,100.00 available for lending.
State WP RLF loans may be used for the following:
- Working capital
- Purchase or lease of land or equipment
- Updating infrastructure
- Debt service
The maximum funding amount may not exceed $2 million. Loan recipients may not apply for another WP RLF loan until two years after the date their previous loan was approved.
Application Documents
These documents are available to be viewed/printed from either 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.
To download the complete manual you must have WinZip or similar file compression software. If you do not have this software, click on the link to download a free version - WinZip.
State WP RLF Application, Individual Documents
Appendix A - State WP RLF Application Form
Appendix B - Sources and Uses Form
Appendix B-a - Balance Sheet Example
Appendix C - Hiring and Retention Plan
Appendix C-a - Hiring and Retention Report
Appendix D - Confidentiality Agreement and Affidavit
Appendix E - Sample Business Plan
Appendix F - Credit Check Release
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:
