Alaska Statutes: AS 45.81.260. Eligibility For Loans.

Alaska Statutes. Title 45. Trade and Commerce Chapter 81. Business Loan and Grant Programs Section 260. Eligibility For Loans.

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AS 45.81.260. Eligibility For Loans.

A person is eligible for a loan under AS 45.81.200 - 45.81.290 if

(1) the person can establish or demonstrate good character, capacity for financial responsibility, ability to provide sufficient collateral and knowledge of Alaska economic conditions;
(2) the person is a resident of the state; and
(3) in the judgment of the Department of Commerce, Community, and Economic Development

(A) the business shows a definite potential for growth;

(B) the borrower will be able to repay the loan; and

(C) the loan will potentially create more jobs and provide additional services in the community.

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