Thanks to a little help from Kalispell’s revolving loan fund program for facade and building improvements, the historic KM Building downtown has some new windows.

The windows are looking good and their low-emittance coatings are helping to keep the people working inside cooler, building owner Bill Goodman said. They also promise to be much more energy-efficient than the old windows, which dated back to the 1960s.

“I’ve been down there three times today in D.A. Davidson, and I’m just sort of in disbelief at how much cooler it is in there with these high-tech windows,” Goodman said.

The oldest part of the prominent building in downtown Kalispell dates back to 1892.

Goodman said he hopes to replace the rest of the first-floor windows next year with another loan from the city’s program.

He’s no stranger to Kalispell’s revolving loan fund program. It helped him replace the building’s 26,000-square-foot roof in two phases about a decade ago.

“It’s low interest,” Goodman said of the 3 percent loan he got through the program. “They’re wanting to lend money in the core so the buildings can get fixed up. I don’t know why more people don’t utilize it.

“I like to shop local, and it just can’t get any more local than this. It keeps that money local. I pay it back and they use that to loan to somebody else.”

The city of Kalispell still has more than $500,000 of revolving loan fund money available to be loaned out during the current fiscal year, said Katharine Thompson, community development director.

Loans for facade and building improvements are available for up to $50,000.

Kalispell also offers gap financing to help businesses that are short on equity with traditional lenders. That program is not capped.

Both lending programs are available citywide.

They originated years ago with startup grant funds awarded years ago by the federal government. As new loans are made and paid back with interest, the amount of money available to lend continues to grow.

Applications are steered through a volunteer committee made up of two commercial lenders and two accountants appointed by the Kalispell City Council. They negotiate terms and make final decisions on whether loans are approved.

Goodman said the application and review processes are easy to go through. “They don’t make it complicated,” he said.

The programs have not been widely marketed or utilized. Thompson said she would like to see more awareness of them “so folks realize there are funds available.

“There haven’t been a lot of businesses looking to expand in recent years,” Thompson said. “But we do believe things are improving in our local economy, and this is just another tool the city brings to try and help improve business opportunities here.”

For more information about the program, contact Thompson by email at kthompson@kalispell.com or by phone at 758-7713.

Reporter Tom Lotshaw may be reached at 758-4483 or by email at tlotshaw@dailyinterlake.com.