BUSINESS & COMMERCIAL

AIDEA loans

Help your business grow with a guaranteed or participated loan by Alaska Industrial Development & Export Authority.

What is an Alaska Industrial Development & Export Authority (AIDEA) loan?

Alaska USA has partnered with AIDEA to offer loans for businesses located in the state of Alaska. The loans can be guaranteed or participated, and can be secured with accounts receivable, inventory, equipment, or real estate.

The purpose of AIDEA is to promote the general prosperity and economic welfare of the people of Alaska, and to create additional employment opportunities.

What is the difference between a guaranteed and a participated loan?

The guaranteed AIDEA loan:

Is designed to assist small- to medium-sized Alaska businesses.

Can make financing, refinancing, and working capital loans possible for borrowers who otherwise might not be able to obtain commercial financing.

Is available to eligible Alaska businesses for real property, tangible personal property, working capital, and export transactions.

The participated AIDEA loan:

Offers long-term financing to Alaska businesses for a new or existing project, or for the refinancing of existing loans.

Provides financing for a large variety of commercial facilities from office buildings, warehouses, and retail establishments to hotels, fishing vessels, and manufacturing facilities.

Why should I consider an AIDEA loan through Alaska USA?

Through its partnership with AIDEA, Alaska USA is able to provide business members with larger loans that have longer maturity periods than regular term loans.

How much financing can I get?

The amount of financing depends on your qualifications.  AIDEA is authorized to guarantee up to 80% of an approved loan (not to exceed $1 million). Under the loan participation program, AIDEA will participate up to 90% of the project.

What are the loan terms?

Terms are based on guidelines set by the AIDEA, and vary according to the loan type and the program used.

Guaranteed loan:

Inventory and/or accounts receivable - 12 months

Secured working capital or unsecured by waiver by AIDEA- 5 years

Tangible personal property - 15 years

Real estate - Up to 20 years

Loan to value - not to exceed 75%

Participated loan:

Machinery and equipment - 15 years or useful life (whichever is less)

Real estate - Up to 25 years

Loan to value - not to exceed 75%

What kind of fees can I expect?

Depending on the type of loan and program, application fees, commitment fees, and third party fees apply. In addition, late payment fees will be assessed on all term loans.

How do I apply for an AIDEA loan?

It's easy! The process varies slightly depending on the amount of your loan. A Commercial Loan Officer can discuss loan options depending on your situation. For amounts up to $100,000, complete a business loan application. For amounts more than $100,000, complete a commercial loan application. Both applications are available online at www.alaskausa.org, at any branch, or financial center.

Highlights

Get financing through Alaska USA's partnership with the AIDEA loan program.

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

AKUSA 02644-I R02/17/09