Section 45.81.260. Eligibility for loans.

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.

Notes

Implemented As

3 AAC 86.900

References

3 AAC 86.900

History

(Sec. 8 ch 109 SLA 1971; am Sec. 1 ch 17 SLA 1974; am Sec. 114 ch 218 SLA 1976)