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Notice of Office Closure

The Alaska Department of Commerce, Community and Economic Development offices will be closed to the public on November 23rd and 24th. We will be closed November 23rd in observance of the Thanksgiving holiday and November 24th is an unpaid furlough day for employees to reduce state expenses.

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 October 1, 2017, 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(d)
Alternative Energy Conservation 5.25% 3 AAC 78.056(f)
Commercial Charter Fisheries 6.25% 3 AAC 80.345(f)

Commercial Fishing

6.25% 3 AAC 80.055(k)
Community Quota Entity 6.25% 3 AAC 80.055(k)
Engine Fuel Efficiency Upgrade 5.25% 3 AAC 80.055(k)
Fisheries Enhancement 5.00% 3 AAC 81.055(e)
Mariculture 5.25% 3 AAC 80.445(c)

Product Quality Improvement

5.25% 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 January 1, 2018.  At that time, interest rates will be re-evaluated and may change.