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.
Alaska Legal Code