About the Montana Wood Products Revolving Loan Fund 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.