diff --git a/.eslintrc.json b/.eslintrc.json
index 03a09183f3..1a032b4f22 100644
--- a/.eslintrc.json
+++ b/.eslintrc.json
@@ -171,7 +171,6 @@
                 "lightbox": false,
                 "list_util": false,
                 "ListWidget": false,
-                "loading": false,
                 "localStorage": false,
                 "local_message": false,
                 "location": false,
diff --git a/frontend_tests/node_tests/billing_helpers.js b/frontend_tests/node_tests/billing_helpers.js
index f35a9aa8db..d7798d0d7a 100644
--- a/frontend_tests/node_tests/billing_helpers.js
+++ b/frontend_tests/node_tests/billing_helpers.js
@@ -5,6 +5,7 @@ const fs = require("fs");
 
 const jQueryFactory = require("jquery");
 const {JSDOM} = require("jsdom");
+const rewiremock = require("rewiremock/node");
 
 const {set_global, zrequire} = require("../zjsunit/namespace");
 const {run_test} = require("../zjsunit/test");
@@ -15,7 +16,8 @@ const dom = new JSDOM(template, {pretendToBeVisual: true});
 const jquery = jQueryFactory(dom.window);
 
 const page_params = set_global("page_params", {});
-const loading = set_global("loading", {});
+const loading = {__esModule: true};
+rewiremock("../../static/js/loading").with(loading);
 const history = set_global("history", {});
 set_global("document", {
     title: "Zulip",
@@ -26,6 +28,8 @@ set_global("location", {
     hash: "#billing",
 });
 
+rewiremock.enable();
+
 const helpers = zrequire("helpers", "js/billing/helpers");
 
 run_test("create_ajax_request", (override) => {
@@ -286,3 +290,4 @@ run_test("set_tab", () => {
     assert.equal(state.show_tab_payment_method, 1);
     assert.equal(state.scrollTop, 2);
 });
+rewiremock.disable();
diff --git a/frontend_tests/node_tests/compose.js b/frontend_tests/node_tests/compose.js
index 1fae9a0509..46e1234324 100644
--- a/frontend_tests/node_tests/compose.js
+++ b/frontend_tests/node_tests/compose.js
@@ -62,7 +62,8 @@ const transmit = set_global("transmit", {});
 const channel = set_global("channel", {});
 const stream_edit = set_global("stream_edit", {});
 const markdown = set_global("markdown", {});
-const loading = set_global("loading", {});
+const loading = {__esModule: true};
+rewiremock("../../static/js/loading").with(loading);
 const page_params = set_global("page_params", {});
 const resize = set_global("resize", {});
 const subs = set_global("subs", {});
diff --git a/frontend_tests/node_tests/settings_org.js b/frontend_tests/node_tests/settings_org.js
index e2066d93aa..fcb212dcf5 100644
--- a/frontend_tests/node_tests/settings_org.js
+++ b/frontend_tests/node_tests/settings_org.js
@@ -26,6 +26,7 @@ const _FormData = function () {
 };
 
 const _loading = {
+    __esModule: true,
     make_indicator: noop,
     destroy_indicator: noop,
 };
@@ -73,7 +74,7 @@ const _ListWidget = {
 set_global("csrf_token", "token-stub");
 set_global("FormData", _FormData);
 set_global("jQuery", _jQuery);
-set_global("loading", _loading);
+rewiremock("../../static/js/loading").with(_loading);
 set_global("realm_logo", _realm_logo);
 set_global("ui_report", _ui_report);
 set_global("ListWidget", _ListWidget);
diff --git a/frontend_tests/node_tests/settings_profile_fields.js b/frontend_tests/node_tests/settings_profile_fields.js
index 39443d4c5d..7ebd955c3a 100644
--- a/frontend_tests/node_tests/settings_profile_fields.js
+++ b/frontend_tests/node_tests/settings_profile_fields.js
@@ -10,7 +10,9 @@ const {run_test} = require("../zjsunit/test");
 const $ = require("../zjsunit/zjquery");
 
 const page_params = set_global("page_params", {});
-const loading = set_global("loading", {});
+const loading = {__esModule: true};
+
+rewiremock("../../static/js/loading").with(loading);
 
 const SHORT_TEXT_ID = 1;
 const CHOICE_ID = 3;
diff --git a/static/js/attachments_ui.js b/static/js/attachments_ui.js
index 0ab1cdcb7d..3c81190e59 100644
--- a/static/js/attachments_ui.js
+++ b/static/js/attachments_ui.js
@@ -3,6 +3,8 @@
 const render_settings_upload_space_stats = require("../templates/settings/upload_space_stats.hbs");
 const render_uploaded_files_list = require("../templates/uploaded_files_list.hbs");
 
+const loading = require("./loading");
+
 let attachments;
 let upload_space_used;
 
diff --git a/static/js/billing/helpers.js b/static/js/billing/helpers.js
index 81372d6d44..6d3d596e09 100644
--- a/static/js/billing/helpers.js
+++ b/static/js/billing/helpers.js
@@ -1,5 +1,7 @@
 "use strict";
 
+const loading = require("../loading");
+
 exports.create_ajax_request = function (
     url,
     form_name,
diff --git a/static/js/bundles/app.js b/static/js/bundles/app.js
index 187e50439d..ad1b2f5da3 100644
--- a/static/js/bundles/app.js
+++ b/static/js/bundles/app.js
@@ -14,7 +14,6 @@ import "flatpickr/dist/plugins/confirmDate/confirmDate";
 
 // Import app JS
 import "../i18n";
-import "../loading";
 import "../vdom";
 import "../keydown_util";
 import "../rtl";
diff --git a/static/js/compose.js b/static/js/compose.js
index 9b25b6be00..8cfd503f6b 100644
--- a/static/js/compose.js
+++ b/static/js/compose.js
@@ -11,6 +11,7 @@ const render_compose_private_stream_alert = require("../templates/compose_privat
 
 const common = require("./common");
 const echo = require("./echo");
+const loading = require("./loading");
 const peer_data = require("./peer_data");
 const people = require("./people");
 const rendered_markdown = require("./rendered_markdown");
diff --git a/static/js/global.d.ts b/static/js/global.d.ts
index ff36dea3e0..c6849a0571 100644
--- a/static/js/global.d.ts
+++ b/static/js/global.d.ts
@@ -47,7 +47,6 @@ declare let keydown_util: any;
 declare let lightbox: any;
 declare let list_util: any;
 declare let list_widget: any;
-declare let loading: any;
 declare let local_message: any;
 declare let markdown: any;
 declare let message_edit: any;
diff --git a/static/js/loading.js b/static/js/loading.js
index f35f081fa5..be25f36e63 100644
--- a/static/js/loading.js
+++ b/static/js/loading.js
@@ -1,8 +1,6 @@
-"use strict";
+import render_loader from "../templates/loader.hbs";
 
-const render_loader = require("../templates/loader.hbs");
-
-exports.make_indicator = function (outer_container, opts) {
+export function make_indicator(outer_container, opts) {
     opts = opts || {};
     let container = outer_container;
 
@@ -47,9 +45,9 @@ exports.make_indicator = function (outer_container, opts) {
     container.css({width: 38 + text_width, height: 0});
 
     outer_container.data("destroying", false);
-};
+}
 
-exports.destroy_indicator = function (container) {
+export function destroy_indicator(container) {
     if (container.data("destroying")) {
         return;
     }
@@ -62,6 +60,4 @@ exports.destroy_indicator = function (container) {
     container.removeData("spinner_obj");
     container.empty();
     container.css({width: 0, height: 0});
-};
-
-window.loading = exports;
+}
diff --git a/static/js/message_edit.js b/static/js/message_edit.js
index 9d578101d8..5009b465e6 100644
--- a/static/js/message_edit.js
+++ b/static/js/message_edit.js
@@ -6,6 +6,7 @@ const render_message_edit_form = require("../templates/message_edit_form.hbs");
 const render_topic_edit_form = require("../templates/topic_edit_form.hbs");
 
 const echo = require("./echo");
+const loading = require("./loading");
 
 const currently_editing_messages = new Map();
 let currently_deleting_messages = [];
diff --git a/static/js/message_scroll.js b/static/js/message_scroll.js
index b9f29479db..10250b9783 100644
--- a/static/js/message_scroll.js
+++ b/static/js/message_scroll.js
@@ -2,6 +2,8 @@
 
 const _ = require("lodash");
 
+const loading = require("./loading");
+
 let actively_scrolling = false;
 
 // Tracks whether the next scroll that will complete is initiated by
diff --git a/static/js/message_util.js b/static/js/message_util.js
index b563df06d8..b51ea391f8 100644
--- a/static/js/message_util.js
+++ b/static/js/message_util.js
@@ -1,5 +1,7 @@
 "use strict";
 
+const loading = require("./loading");
+
 exports.do_unread_count_updates = function do_unread_count_updates(messages) {
     unread.process_loaded_messages(messages);
     unread_ui.update_unread_counts();
diff --git a/static/js/settings_bots.js b/static/js/settings_bots.js
index 4cf031be6e..ed61bb8b00 100644
--- a/static/js/settings_bots.js
+++ b/static/js/settings_bots.js
@@ -7,6 +7,7 @@ const render_edit_bot = require("../templates/edit_bot.hbs");
 const render_settings_edit_embedded_bot_service = require("../templates/settings/edit_embedded_bot_service.hbs");
 const render_settings_edit_outgoing_webhook_service = require("../templates/settings/edit_outgoing_webhook_service.hbs");
 
+const loading = require("./loading");
 const people = require("./people");
 
 exports.hide_errors = function () {
diff --git a/static/js/settings_display.js b/static/js/settings_display.js
index d6843e9cfc..78b4c83594 100644
--- a/static/js/settings_display.js
+++ b/static/js/settings_display.js
@@ -1,6 +1,7 @@
 "use strict";
 
 const emojisets = require("./emojisets");
+const loading = require("./loading");
 const settings_config = require("./settings_config");
 const settings_ui = require("./settings_ui");
 
diff --git a/static/js/settings_emoji.js b/static/js/settings_emoji.js
index b8229a1192..0d4ca0584c 100644
--- a/static/js/settings_emoji.js
+++ b/static/js/settings_emoji.js
@@ -4,6 +4,7 @@ const emoji = require("../shared/js/emoji");
 const render_admin_emoji_list = require("../templates/admin_emoji_list.hbs");
 const render_settings_emoji_settings_tip = require("../templates/settings/emoji_settings_tip.hbs");
 
+const loading = require("./loading");
 const people = require("./people");
 
 const meta = {
diff --git a/static/js/settings_exports.js b/static/js/settings_exports.js
index cc1a14953c..dfa8d604a7 100644
--- a/static/js/settings_exports.js
+++ b/static/js/settings_exports.js
@@ -2,6 +2,7 @@
 
 const render_admin_export_list = require("../templates/admin_export_list.hbs");
 
+const loading = require("./loading");
 const people = require("./people");
 
 const meta = {
diff --git a/static/js/settings_invites.js b/static/js/settings_invites.js
index 1feae4a67c..25a5b4c07e 100644
--- a/static/js/settings_invites.js
+++ b/static/js/settings_invites.js
@@ -3,6 +3,7 @@
 const render_admin_invites_list = require("../templates/admin_invites_list.hbs");
 const render_settings_revoke_invite_modal = require("../templates/settings/revoke_invite_modal.hbs");
 
+const loading = require("./loading");
 const people = require("./people");
 const settings_config = require("./settings_config");
 const util = require("./util");
diff --git a/static/js/settings_linkifiers.js b/static/js/settings_linkifiers.js
index 589838b6ff..d35e5caeb1 100644
--- a/static/js/settings_linkifiers.js
+++ b/static/js/settings_linkifiers.js
@@ -2,6 +2,8 @@
 
 const render_admin_filter_list = require("../templates/admin_filter_list.hbs");
 
+const loading = require("./loading");
+
 const meta = {
     loaded: false,
 };
diff --git a/static/js/settings_org.js b/static/js/settings_org.js
index 0555d1c114..a1d0f5061d 100644
--- a/static/js/settings_org.js
+++ b/static/js/settings_org.js
@@ -4,6 +4,7 @@ const pygments_data = require("../generated/pygments_data.json");
 const render_settings_admin_auth_methods_list = require("../templates/settings/admin_auth_methods_list.hbs");
 const render_settings_admin_realm_domains_list = require("../templates/settings/admin_realm_domains_list.hbs");
 
+const loading = require("./loading");
 const settings_config = require("./settings_config");
 const settings_ui = require("./settings_ui");
 
diff --git a/static/js/settings_profile_fields.js b/static/js/settings_profile_fields.js
index 3d60b94e94..36d77647c2 100644
--- a/static/js/settings_profile_fields.js
+++ b/static/js/settings_profile_fields.js
@@ -5,6 +5,7 @@ const {default: Sortable} = require("sortablejs");
 const render_admin_profile_field_list = require("../templates/admin_profile_field_list.hbs");
 const render_settings_profile_field_choice = require("../templates/settings/profile_field_choice.hbs");
 
+const loading = require("./loading");
 const settings_ui = require("./settings_ui");
 
 const meta = {
diff --git a/static/js/settings_streams.js b/static/js/settings_streams.js
index c8aa72b091..6e16c1a34a 100644
--- a/static/js/settings_streams.js
+++ b/static/js/settings_streams.js
@@ -2,6 +2,8 @@
 
 const render_admin_default_streams_list = require("../templates/admin_default_streams_list.hbs");
 
+const loading = require("./loading");
+
 const meta = {
     loaded: false,
 };
diff --git a/static/js/settings_ui.js b/static/js/settings_ui.js
index 2a57a238f8..9dbd893e4d 100644
--- a/static/js/settings_ui.js
+++ b/static/js/settings_ui.js
@@ -1,3 +1,5 @@
+import * as loading from "./loading";
+
 export function display_checkmark($elem) {
     const check_mark = document.createElement("img");
     check_mark.src = "/static/images/checkbox-green.svg";
diff --git a/static/js/settings_users.js b/static/js/settings_users.js
index 3ac0132bbc..f70e0093e7 100644
--- a/static/js/settings_users.js
+++ b/static/js/settings_users.js
@@ -4,6 +4,7 @@ const render_admin_bot_form = require("../templates/admin_bot_form.hbs");
 const render_admin_human_form = require("../templates/admin_human_form.hbs");
 const render_admin_user_list = require("../templates/admin_user_list.hbs");
 
+const loading = require("./loading");
 const people = require("./people");
 const settings_config = require("./settings_config");
 const settings_data = require("./settings_data");
diff --git a/static/js/setup.js b/static/js/setup.js
index da877ee423..0119c0021b 100644
--- a/static/js/setup.js
+++ b/static/js/setup.js
@@ -1,3 +1,4 @@
+import * as loading from "./loading";
 import * as util from "./util";
 
 // Miscellaneous early setup.
diff --git a/static/js/stream_create.js b/static/js/stream_create.js
index d6212d3123..e2456cb400 100644
--- a/static/js/stream_create.js
+++ b/static/js/stream_create.js
@@ -2,6 +2,7 @@ import render_announce_stream_docs from "../templates/announce_stream_docs.hbs";
 import render_new_stream_users from "../templates/new_stream_users.hbs";
 import render_subscription_invites_warning_modal from "../templates/subscription_invites_warning_modal.hbs";
 
+import * as loading from "./loading";
 import * as peer_data from "./peer_data";
 import * as people from "./people";
 
diff --git a/static/js/subs.js b/static/js/subs.js
index 3f4190ba9e..3bfb05da6d 100644
--- a/static/js/subs.js
+++ b/static/js/subs.js
@@ -8,6 +8,7 @@ const render_subscription_table_body = require("../templates/subscription_table_
 const render_subscriptions = require("../templates/subscriptions.hbs");
 
 const components = require("./components");
+const loading = require("./loading");
 const people = require("./people");
 const search_util = require("./search_util");
 const stream_create = require("./stream_create");