AGRICULTURAL REVOLVING LOAN FUND

• SHORT TERM - loans to finance annual operating expenses such as seed, feed, fertlizer, harvesting or planting activities.

• CHATTEL - loans to purchase equipment or livestock.

• FARM DEVELOPMENT - loans to purchase real property and construct non-residential improvements for agricultural purposes.

• IRRIGATION - loans to purchase and install irrigation systems.

• PRODUCT PROCESSING - loans to build and equip facilities to process Alaska agricultural products.

• CLEARING - loans to provide for land clearing.

Loans may be made to individuals, partnerships, joint ventures, corporations or other business entities. Proof of current Alaska residency must be provided by applicants at loan closing. A statement of Agricultural and other business experience with evidence of necessary related skills and training is required.

CONDITIONS

Loan funds may only be used for agricultural production or processing operations in Alaska. Loans may not exceed 75% of the value of the collateral, less existing liens.

Loans must be secured by adequate collateral as appraised by the ARLF or an independent appraiser. Collateral for consideration may include land, improvements, machinery, equipment, crops, or livestock. Property insurance, naming ARLF as loss payee, is required on buildings and all vehicles, machinery, equipment and livestock that are stored in buildings and used as collateral..

PAYMENT TERMS

Loan terms, including payment terms, will be based on applicant's ability to service the loan. Payment terms may be monthly, quarterly, semi-annual, annual or variable.

RATES & FEES

Fixed interest rates are comparable to rates charged by other Alaska agricultural lenders and established by the BAC. A non-refundable $50 application fee is required. If you have any questions, please contact an ARLF Loan Officer.