Commercial Loans
ALPS FCU also offers secured and unsecured working capital lines of credit up to $100,000. Collateral must be located or operating primarily in Southeast Alaska. 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.
Photo by ALPS Member: Darrin Johnson
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%.
Photo by ALPS Member: Darrin Johnson
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%.
Photo by ALPS Member: Dave Evens
IFQ Loans
Permitted loans include Halibut and Sablefish IFQ secured loans. Max LTV 80%.
Photo by ALPS Member: Lapchynski
Additional Business Loans:
Secured and unsecured commercial related loans with the purpose of funding operating capital, vehicles, 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.
Photo by ALPS Member: Aleksandra Richards