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 is $20,000 per created or retained job, and 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.
Requirements
Businesses must provide at least one non-WP RLF dollar for each dollar of State WP RLF funds requested (a 1:1 leveraged ratio).
Application Guidelines
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.
Download complete manual in Word and Excel (condensed using WinZip)
State WP RLF Application Guidelines (Word and Excel)
Download complete manual in PDF (condensed using WinZip)
State WP RLF Application Guidelines (PDF)
State WP RLF Application Guidelines Individual Documents
State WP RLF Application Guidelines
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
Economic Development Administration Wood Products Revolving Loan Fund
The Economic Development Administration (EDA) WP RLF funding may be loaned to individuals, including private contractors related to the wood products industry, and wood product businesses. Loans must be made to individuals or small businesses that are part of the critical, primary wood processing infrastructure and have suffered economic hardships.
Currently the EDA WP RLF loan fund has $4,252,300 available for lending.
EDA WP RLF loans may be used for the following:
- Working capital
- Equipment loans
- Other activities that do not include contracted labor and construction
The maximum funding amount is $20,000 per created or retained job, and 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.
Requirements
Businesses must provide at least two non-WP RLF dollars for each dollar of EDA WP RLF funds requested (a 2:1 leveraged ratio).
Application Guidelines
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.
Download complete manual in Word and Excel (condensed using WinZip)
EDA WP RLF Application Guidelines (Word and Excel)
Download complete manual in PDF (condensed using WinZip)
EDA WP RLF Application Guidelines (PDF)
EDA WP RLF Application Guidelines Individual Documents
EDA WP RLF Application Guidelines
Appendix A - EDA 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:
