Import Material from filepath?

I’m using the ObjImporter from the wiki to import custom .obj files at runtime, to allow user-created assets. I then create a new GameObject, add a MeshFilter, assign the MeshFilter’s mesh to the mesh returned from ObjImporter, and finally add a MeshRenderer.

However, the newly-created MeshRenderer (obviously) has no Material set. One can assume that a .mat file should have been generated alongside the .obj file, so the logical solution would be for the user to specify a string filepath from which to load the .mat, the same way I load the .obj file. However, I can’t seem to find a way in which to do so.

Does Unity have a built-in way to import materials at runtime, similar to Resources.Load? If not, do I need to write a custom .mat importer, or is there one available already?

Edit: I’m using Unity Free and have no financial means of upgrading in the foreseeable future, so if it requires Pro I have no way of using it.

Did you try to put the material to a dummy Cube object and save it to a prefab, put the prefab in the Resources folder then load it during runtime, finally get the material from that object you just loaded?