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Interest Rates

The Division of Investments administers a portfolio of state loan programs, including Commercial Fishing, Fisheries Enhancement, Small Business Economic Development, Rural Development Initiative Fund, Mariculture, Microloan, and Commercial Charter Fisheries. 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, 2024, the interest rates are:

Fund Rate Authority
Alaska Microloan 8.00% 3 AAC 74.045(d)
Commercial Charter Fisheries 10.50% 3 AAC 80.345(f)
Commercial Fishing 10.50% 3 AAC 80.055(k)
Community Quota Entity 10.50% 3 AAC 80.055(k)
Engine Fuel Efficiency Upgrade 9.50% 3 AAC 80.055(k)
Fisheries Enhancement 9.50% 3 AAC 81.055(e)
Mariculture 9.00% 3 AAC 80.445(c)
Product Quality Improvement 9.50% 3 AAC 80.055(k)
Rural Development Initiative Fund 7.50% AS 44.88.610(b)
Small Business Economic Development 4.50% Board Delegation

These rates are in effect until changed, which will be no sooner than July 1, 2024. At that time, interest rates will be re-evaluated and may change.