Division of Economic Development

Financing Section

The Division of Economic Development, Financing Section, administers and services ten loan programs under the Department of Commerce, Community, and Economic Development. These programs were primarily designed to promote economic development through direct state lending in industries and areas of the state that are not adequately serviced by the private sector.

The loan programs include Commercial Fishing, Fisheries Enhancement, Small Business Economic Development, Rural Development Initiative Fund, Microloan, Alternative Energy Conservation, Mariculture, Commercial Charter Fisheries, Community Quota Entity and Capstone Avionics. Assumptions on existing loans are also available on a number of loan programs.

Please refer to each loan fund for details on eligibility and other terms.