The Montana Department of Commerce has officially reopened the Wood Products Revolving Loan Fund (WP RLF) to new applicants, unveiling a series of major updates aimed at increasing access to capital and strengthening the state’s wood products industry.
The relaunch comes with revised program guidelines, adopted earlier this month, that streamline the application process, expand financing options, and improve overall program accessibility. The WP RLF is a key economic development tool designed to bolster Montana’s natural resource-based economy by supporting wood products manufacturing, promoting economic diversification, and driving job creation and retention—particularly in rural and forest-dependent communities.
“These updates reflect our commitment to improving the delivery of state financing tools and expanding their reach,” said Department of Commerce Director Marta Bertoglio. “By working in partnership with local lenders, we can bring more resources to the table and meet the evolving needs of Montana’s wood products industry.”
The WP RLF offers state-funded loans for a wide range of eligible uses, including working capital, equipment purchases, infrastructure upgrades, land acquisition or lease, and debt service.
New Two-Tier Lending Structure
A central feature of the relaunch is a new two-tier lending structure:
- Loan Participation Program: For funding requests between $1 million and $2 million, the Department will now partner with enrolled lenders to co-finance loans and share risk, improving access for larger-scale projects.
- Direct Lending: Requests under $1 million will continue to be issued directly by the Department of Commerce to qualifying businesses.
Modernized Program Guidelines
In addition to expanded lending options, the Department has modernized and streamlined the WP RLF’s program guidelines. Changes include:
- Introducing loan participation to increase flexibility;
- Eliminating outdated provisions and reducing redundancy;
- Reorganizing content for clarity and ease of use;
- Reducing total guideline length from 39 pages to 12; and
- Simplifying language to minimize administrative burdens for borrowers and lending partners.
The updates were formally adopted under the authority of § 90-1-502, MCA, and incorporated into Montana’s administrative rules.
Applications to the WP RLF will be accepted on a rolling basis until all available funding is committed. Eligible wood products businesses are encouraged to apply through the Department of Commerce’s loan application portal.