3 AAC 80.310 - Application process

(a) To apply for a loan under AS 16.10.801 - AS 16.10.890, the applicant shall file with the department

(1) a completed application for a commercial charter fisheries loan, on a form provided by the department;

(2) a completed residency questionnaire, on a form provided by the department;

(3) a letter of intent stating the amount requested and intended use consistent with AS 16.10.801 - 13.10.890 of the proposed loan money, on a form provided by the department;

(4) a schedule of acceptable collateral, including collateral now owned and other collateral to be acquired with the loan proceeds, on a form provided by the department;

(5) an individual financial statement consisting of a current balance sheet and a profit and loss statement, on a form provided by the department;

(6) a statement of projected income and expenses for the following year's operating plan, on a form provided by the department;

(7) copies of the applicant's federal income tax returns for the preceding three years, and for additional years if necessary to establish eligibility;

(8) a signed credit authorization, on a form provided by the department;

(9) a resume identifying all permits and licenses held by the applicant, summarizing the applicant's experience in commercial charter fisheries in Alaska for each year, on a form provided by the department;

(10) consent to release information, on a form provided by the department;

(11) copies of the purchase agreement or cost estimates and down-payment receipt, with signatures by all parties;

(12) if a vessel is used for collateral, a marine survey of the vessel less than 90 days old, acceptable to the department, including pictures of the vessel;

(13) the application fee required by 3 AAC 80.355(b); and

(14) any other information requested by the department needed to process the loan application.

(b) The department may process loan requests without the information described in (a) of this section if the department determines that the information is not necessary for making the lending decision.

Notes

3 AAC 80.310

Eff. 10/16/2012, Register 204

Authority:AS 16.10.805