To Provide private sector employment by financing the start-up and expansion of businesses that will create significant long-term employment.

• Loans may be made to a business located in a community with a population of 5,000 or less that is not connected by road or rail to Anchorage or Fairbanks, or with a population of 2,000 or less that is connected by road or rail to Anchorage or Fairbanks.
• Loans may be made for working capital, equipment, construction or other commercial purposes.
• Loans may not be made to pay costs that were incurred more than 6 months before loan application.
• Loans must result in the creation of new jobs or the retention of existing jobs in the eligible community.

• Maximum loan amount is $100,000 to a person or up to $200,000 to two or more people.
• Maximum loan term is 25 years.
• Interest rate is 1% below the prime rate; not less than six percent.
• Interest rate will be fixed at the time of loan approval.
• All loans must be adequately secured. A loan may not exceed the value of the collateral used to secure the loan.
• A reasonable amount of money from other non-state sources must be committed for use on any project for which money from a loan will be used.

• A $100 application fee must accompany all applications.
• A 1% origination fee will be charged at the time that the loan is closed.
• Borrower is responsible to pay all direct costs incurred in processing an application including title reports and title insurance, recording fees, appraisals, travel or other direct costs.