About this programme
The Montana Wood Products Revolving Loan Fund started in 2009 when the legislature created the Montana Distressed Wood Products Industry Revolving Loan program, in response to the economic downturn that hit demand for timber. The Montana Department of Commerce runs the fund to create or retain jobs in Montana's wood products industry, targeting counties where lumber mills and similar facilities support the local economy.
The fund currently has $1,791,800 available for lending. It supports businesses that are part of the state's critical primary wood processing infrastructure and have suffered economic hardship.
How it works
The program lends two ways: direct loans from the Department of Commerce, up to $1,000,000, or participation loans made alongside an approved private lender, up to $2,000,000. Either way, no business can draw more than $2,000,000 from the fund in a calendar year, and a recipient must wait at least two years after a prior loan approval before applying again.
Fixed interest rates run 3.50% for terms up to 10 years and 4.00% for terms of 10 to 15 years, with a maximum term of 15 years. Eligible uses include working capital, debt service, purchasing or leasing land and equipment, infrastructure upgrades or retrofitting, and matching funds for other grants or loans.
Applicants apply through the state's ServiceNow portal, which requires an Okta profile tied to a valid email address. A Loan Review Committee reviews each application for eligibility and fit with state and program requirements, and can request more information, approve, or reject it; receiving an application does not commit the state to funding it.
Who can apply
Eligible applicants are individuals, including private contractors, or small businesses as defined by U.S. Small Business Administration regulations (13 CFR 121 et seq.), based in Montana or looking to expand into the state, that are part of the state's critical primary wood processing infrastructure and have suffered economic hardship. There is no minimum loan amount.
How to apply
- Contact program staff at the Department of Commerce or a participating lender to discuss the proposed project.
- Decide whether to pursue a direct loan from the state or a participation loan through a lender.
- Create an Okta profile at okta.loginmt.com using a valid email address to access the application portal.
- Complete and submit the application online through the ServiceNow portal at montana.servicenowservices.com/mtgl.
- The Loan Review Committee reviews the application for eligibility and program fit, and may request more information before approving or rejecting it.
Documents you’ll typically need
- Sources and Uses Form
- Balance Sheet
- Hiring and Retention Report
- Business Plan
- General Lender Loan Servicing Agreement (for lenders enrolling as participating lenders)
Frequently asked
How much can a wood products business borrow?
Up to $1,000,000 in a direct loan from the state, or up to $2,000,000 through a participation loan with an approved lender. No business can draw more than $2,000,000 from the fund in a calendar year.
What interest rate does the fund charge?
A fixed 3.50% for loans up to 10 years, or 4.00% for loans between 10 and 15 years.
What can the loan be used for?
Working capital, debt service, buying or leasing land and equipment, infrastructure upgrades, or as matching funds for another grant or loan.
Does applying guarantee funding?
No. The program states plainly that receipt of an application does not imply a commitment to fund it; a Loan Review Committee decides after reviewing eligibility and fit.
How much money is currently available?
$1,791,800, as of the program's most recent update.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.