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. Effective August 1, 2024, the interest rates for the following loan programs are: Fund Rate Authority Commercial Fishing 5.25% AS 16.10.320(a)(2) Engine Fuel Efficiency Upgrade 5.25% AS 16.10.320(a)(2) Product Quality Improvement 5.25% AS 16.10.320(a)(2) Community Quota Entity 5.25% AS 16.10.320(a)(2) These rates are in effect until changed, which will be no sooner than July 1, 2027. At that time, interest rates will be re-evaluated and may change. The interest rates for the following loan programs are set each quarter. Effective July 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) Fisheries Enhancement 9.50% 3 AAC 81.055(e) Mariculture 9.00% 3 AAC 80.445(c) 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 October 1, 2024. At that time, interest rates will be re-evaluated and may change.