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Offices Closed to Public

The Department of Commerce, Community, and Economic Development offices are closed to the public at this time. We are still open for business and encourage you to contact us via phone or email.

Interest Rates

The Investments 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 July 1, 2020, the interest rates are:

Fund Rate Authority
Alaska Microloan 5.25% 3 AAC 74.045(d)
Commercial Charter Fisheries 6.00% 3 AAC 80.345(f)
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% AS 44.88.610(b)
Small Business Economic Development 4.00% Board Delegation

These rates are in effect until changed, which will be no sooner than October 1, 2020. At that time, interest rates will be re-evaluated and may change.