Financing Section

Interest Rates

The Financing Section administers a portfolio of state loan programs, including Commercial Fishing, Fisheries Enhancement, Small Business Economic Development, Rural Development Initiative Fund, Mariculture, Commercial Charter, 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.

 

Interest rates are set each quarter. Effective April 1, 2014, the interest rates are:

 

Fund

Rate

Authority

Alaska Capstone Avionics

4.00%

3 AAC 75.045(c)

Alaska Microloan
6.00%  3 AAC 74.045(f)
Alternative Energy Conservation
5.00% 3 AAC 78.056(f)
Commercial Charter Fisheries
6.00% 3 AAC 80.310

Commercial Fishing

5.25%

3 AAC 80.055(k)

Community Quota Entity
5.25% 3 AAC 80.055(k)

Engine Fuel Efficiency Upgrade

4.25%

3 AAC 80.055(k)

Fisheries Enhancement

5.00%

3 AAC 81.055(e)

Mariculture
5.00% 3 AAC 80.445(c)

Product Quality Improvement

4.25%

3 AAC 80.055(k)

Rural Development Initiative Fund

4.00%

3 AAC 99.865

Small Business Economic Development

4.00%

Board Delegation

These rates are in effect until changed, which will be no sooner than July 1, 2014.  At that time, interest rates will be re-evaluated and may change.