The Business and Export Assistance Loan Guarantee Program is designed to assist small to medium-sized Alaska businesses. AIDEA’s support can make project financing, refinancing and working capital loans possible for those borrowers who might not otherwise obtain commercial financing. Guarantees are available to eligible Alaska businesses for real property, tangible personal property, working capital, and export transactions. AIDEA is authorized to guarantee up to 80% of a loan, up to $1 million. Loans must be originated by an eligible financial institution. The guarantee extends to the principal balance, accrued interest and liquidation expenses.
AIDEA can extend its assistance program to small businesses and entrepreneurs in rural Alaska by guaranteeing unsecured loans up to $100,000 for qualifying borrowers and projects for loan terms up to five years.