A person is eligible for a loan under Alaska Stat. § 45.81.20045.81.290 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;

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Terms Used In Alaska Statutes 45.81.260

  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(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.