Fisheries Enhancement Loan Program
Administrative Agency:
State Agency: Department of Commerce, Community and Economic Development (DCCED), Division of Investments (DOI)
Program Goals:
To assist in the planning, construction, and operation of fish hatchery facilities as well as planning and implementation of enhancement and rehabilitation activities such as lake fertilization and habitat improvement. Also to assist qualified regional aquaculture associations or local non-profit corporations in the assumption of a fisheries enhancement loan.
Resource Provided:
Direct loans of up to $10,000,000 (no interest or payment for the first 6 to 10 years) for up to 30 years. The interest rate is fixed at prime plus one percent to a maximum of 9.5%.
Eligibility:
Loans may be made to qualified regional associations or local non-profit corporations that have obtained a private nonprofit hatchery permit from the Alaska Department of Fish & Game. Loans may also be made for planning and pre-construction purposes prior to receipt of a hatchery permit from the Alaska Department of Fish and Game.
Alaska Program Status:
As of June 2009, there were 183 loans valued at $68.1 million outstanding.
Program Contact: (Primary Contact listed first.)