BUSINESS & COMMERCIAL

Term loans

Need extra cash, a new location, or the latest equipment to help your business grow? Make your plans happen with competitive rates on term loans from Alaska USA.

What types of term loans are offered to businesses by Alaska USA?

Alaska USA offers business and commercial loans secured with cash, inventory, equipment, securities, or real estate. Unsecured term loans are also available.

Why should I get my business loan from Alaska USA?

Alaska USA has a long history of providing members with the products and financial services that allow them to meet all their financial needs.

Alaska USA extends this tradition to businesses as well, by offering products with competitive rates and fees, and excellent service.

How much financing can I get?

The amount of financing depends on the loan type, as follows:

Cash, equipment, or securities loans - $2,500 and up. (Please note that if you are a sole proprietor and your financing request is under $50,000, you should apply for an Alaska USA consumer loan.)

Inventory loans - $5,000 and up

Real estate loans - $50,000 and up

Unsecured loans - $2,500 to $100,000

What terms are available?

Terms also vary according to loan type:

Cash - Varies based on the purpose for the cash; typically one year

Inventory - One year

Equipment - New: seven years; Used: five years

Securities - One year

Real Estate - Up to 15 years (maximum amortization of 25 years)

Unsecured - Three years

Are there prepayment penalties?

No. Pay your regular monthly payment or pay in full at any time without a penalty.

Is autopay available?

Yes. You may choose to set up autopay from another Alaska USA account to ensure that your loan payment is made on time.

What kind of fees can I expect?

Depending on the type of loan, there may be a commitment fee and third party fees. In addition, late payment fees are assessed for all term loans.

How do I apply for a term loan?

Apply in person at any branch or financial center, call for an application, or download one from www.alaskausa.org.

Phone: 646‑6670 in Anchorage, (877) 646‑6670 outside Anchorage • 450‑1581 in Fairbanks, (877) 374‑5453 outside Fairbanks.

Additional contact information can be found online.

For requests greater than $100,000, the following paperwork is also necessary:

Copy of business license, Partnership Agreement, Articles of Organization and Operating Agreement (LLC), Articles of Incorporation, and Bylaws (Corp)

Past three (3) years complete business tax returns and past two (2) years personal tax returns

Most recent year-end personal and business financial statements, including a balance sheet and profit and loss statement

Current interim financial statement, including a balance sheet and profit and loss statement

Copies of any pertinent lease or contracts

For new or expanding businesses, a detailed business plan that includes projected income and expenses for the next 12 months

If buying property, earnest money agreement and purchase invoices

If buying or offering real property as collateral, legal description of the property and copies of any previous appraisals and environmental reports

Highlights

Alaska USA offers both secured and unsecured term loans for businesses - with competitive rates and fees and excellent service.

Loans may be secured with cash, equipment, securities, inventory, or real estate.

 

AKUSA 02397-I R 11/27/07