Commercial Loans

ALPS FCU also offers secured and unsecured working capital lines of credit.  Collateral must be located or operating primarily in the credit union’s field of membership.  ALPS FCU partners with the U.S. Small Business Administration (SBA) and the USDA in order to offer government guaranteed loans to members requesting loans over $750K.

Commercial Real Estate Loans

ALPS finances commercial loans secured by owner and non-owner occupied real estate that may or may not contain rental units. Large structures such as retail centers, strip malls, or large condominium or apartment complexes are not permitted. Max LTV 80%.

Commercial Fishing Vessel Loans

Loans are permitted for documented vessels engaging in seine, troll, longline, gillnet, and/or other common Southeast Alaska fisheries such as crab and shrimp. As a guideline, the typical fishing vessel that the credit union engages in financing is under 60’. Power scows/tenderers under 90’ are also permitted collateral. Max LTV 80%.

IFQ Loans

Permitted loans include Halibut and Sablefish IFQ secured loans. Max LTV 80%.

Additional Business Loans:

Secured and unsecured commercial related loans with the purpose of funding operating capital, vehicles, permit purchases, or other expenses that add value to the commercial operation or assets. Loans for heavy equipment, inventory/accounts receivable, or other obscure commercial assets are not permitted.

Paycheck Protection Program (PPP) Information

ALPS FCU will begin accepting and processing applications on Tuesday, January 19th. An online portal is in the process of being developed so that members can apply directly online, and should be available on the 19th or shortly after. The link to the portal will be posted below once available. Members who have not already submitted an application should wait until the online application portal is available.

We anticipate the process will take much longer than Round 1 due to additional verifications being performed by the SBA. Please work with your accountants or tax advisors to complete your application. The credit union will not perform calculations or compile documentation. The resources below should help answer any questions and guide you through the application process.

This page will be updated as further information is gathered and the online portal becomes available.

• PPP First Draw Borrower Application Form (Revised 1.8.2021)
• PPP Second Draw Borrower Application Form (Revised 1.8.2021)
• Overview of First Draw PPP
• Overview of Second Draw PPP
• PPP Interim Final Rule as Amended
• PPP Interim Final Rule Second Draw Loans