Loan Guarantee Program
AIDEA offers terms of:
- 180 days for a post-shipment export transaction; and
- 270 days for a pre-shipment export transaction;
- One year if secured by inventory or accounts receivable and a non-export transaction;
- Five years if working capital or unsecured by waiver;
- 15 years if secured by tangible personal property;
- 20 years if secured by real property;
Project must be in Alaska and majority-owned by an Alaska resident.
How To Apply
The first step is to contact an AIDEA eligible financial institution.
- The financial institution, after its approval of the loan, applies to AIDEA for a guarantee.
- AIDEA loan officers underwrite the financial institution’s loan package.
- If approved, AIDEA issues a guarantee certificate to the originating financial institution.
- A $200 non-refundable application fee is due at the time the financial institution submits the guarantee package for AIDEA consideration.
- A 2% one-time guarantee fee is due when AIDEA issues its guarantee to the financial institution.