Loan FAQs

What range of financing is available?

Loans range from $100,000 to $10 million.

What can I use my loan for?

Loans may be used to fund working capital, equipment purchases, owner occupied real estate, purchase of an existing business or to start up a business.

Do you fund small businesses?

Yes, Alaska Growth Capital funds businesses with as few as 2 employees

Do you fund startup businesses?

Yes, Alaska Growth Capital funds startup businesses with strong potential for sustainability and a significant commitment from the entrepreneur.

What types of financial assistance are available from Alaska Growth Capital?

We provide long-term loans to small businesses. These loans are guaranteed by the Small Business Administration (SBA) and U.S. Department of Agriculture (USDA).

What terms are available?

The loan terms range from 7 to 25 years with varying interest rates, depending on the use of funds and the amount of risk.

What do you look for in a loan candidate?

Character, cash flow and collateral are key attributes. The candidate should also provide a well-defined business plan.

What specifically do you look for when evaluating character and other attributes?

Credit worthiness is important. Other positive indicators are your good reputation, industry experience, and business acumen. The ability to establish solid, long-term business relationships is another plus.

What types of collateral do you accept?

Real estate, business assets, and personal assets are the types of collateral used.

What fees can I expect to pay?

One-time fees paid at loan closing vary depending on which guarantee program is used. In addition, usual and customary costs associated with loan processing are incurred.

What types of government-guaranteed loans does Alaska Growth Capital use?

We use guaranteed programs provided by the Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA).

What is the interest rate?

Typically the interest rate is the prime rate plus up to 2.75%. The strength of the business and the collateral that secures the loan affect the available interest rate.

How long does it take to get a loan approval?

Alaska Growth Capital prides itself on timely responses. Time from application to closing varies, depending on the complexity of the request and the guarantee agency used. It is strongly suggested that you submit your application as soon as you have identified a need for financing and that you are very thorough in completing the application and your business plan. Evaluating your loan is an important step that makes certain that your financing is the right fit for your unique business and situation. We make every effort to move quickly for our clients.

Do you provide banking services, such as business checking?

No, we do not offer checking accounts or ATM service. Our staff consists of experienced loan officers and business professionals to provide you with strategic financial and consulting services. However, we have strong relationships with banks throughout the state and can provide a referral.