{"data":{"id":"us-ak/as-44.88.730","jurisdiction":"us-ak","citation":"AS 44.88.730","heading":"Conditions of loan guarantee.","body":"(a) The authority may guarantee a loan under AS 44.88.700 — 44.88.799 if the\n(1) loan\n(A) is commercially reasonable;\n(B) contains payment provisions satisfactory to the authority; and\n(C) is secured by acceptable collateral;\n(2) project\n(A) is allocated new markets tax credits by a qualified community development entity;\n(B) promotes economic development in the state; and\n(C) is not a housing project;\n(3) borrower demonstrates the ability to repay the loan from either or both of the following:\n(A) net cash flow of the borrower;\n(B) proceeds from the sale of current assets that are collateral for the loan if the sale or receipt of proceeds from the sale is an event that creates a payment obligation; in this subparagraph, “current asset” means property that will be or could be converted into cash within one year in the normal operation of a business;\n(4) term of the loan does not exceed 10 years;\n(5) loan is originated with and serviced by a financial institution.\n(b) The authority may provide a guarantee for up to 100 percent of a loan that qualifies under AS 44.88.700 — 44.88.799.","path":["Title 44. State Government.","Chapter 88. Alaska Industrial Development and Export Authority.","Article 9. New Markets Tax Credit Assistance Guarantee and Loan Program."],"source_url":"https://www.akleg.gov/basis/statutes.asp#44.88.730","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:34Z","sha256":"cecb40aae9bd00608daab1f6ea534108431d0435785d2d1cb8824f5c216e922d","source_id":"us-ak","stale":false,"prev":"us-ak/as-44.88.720","next":"us-ak/as-44.88.740"},"notice":"GroundRules: Original legal text. Not legal advice."}