We understand the needs of our commercial business members and offer loans for purchase and refinance of real estate, fishing vessels, Individual Fisherman’s Quota (IFQ), and other commercial related assets.
We understand the needs of our commercial business members and offer loans for purchase and refinance of real estate, fishing vessel, Individual Fisherman’s Quota (IFQ), and other commercial related assets.
Commercial Real Estate Loans
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/tenders under 90’ are also permitted collateral. Commercial charter boats are not eligible. Max LTV 80%.
Additional Business Loans:
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.