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Alaska Statutes Title 45. Trade and Commerce § 45.81.260. Eligibility for loans

Current as of January 01, 2025 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Alaska Statutes Title 45. Trade and Commerce § 45.81.260. Eligibility for loans - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-45-trade-and-commerce/ak-st-sect-45-81-260/

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