Code · Alaska · Title 45 · Chapter 81

Sec. 45.81.260. Eligibility for loans.

100 words·~1 min read·/ak/title-45/chapter-81/45-81-260

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.