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2018 Alaska Statutes
Title 44. State Government
Chapter 88. Alaska Industrial Development and Export Authority
Article 6. Business and Export Assistance Program.
Sec. 44.88.525. Conditions of debt refinancing guarantee.
Universal Citation: AK Stat § 44.88.525 (2018)
The authority may not guarantee refinanced debt
(1) unless the refinancing
(A) is necessary to extend substantial debt payments over a longer period of time, thereby improving the applicant's net cash flow and working capital position consistent with the useful life of the assets being refinanced;
(B) assists with short-term debt or cash expenditures when lenders will not extend reasonable longer terms to the applicant; and
(C) creates additional economic opportunity or improves the viability of the borrower rather than just reducing the liability of the lender; or
(2) unless the refinancing is necessary to place a permanent loan subsequent to an interim loan for financing of the project.
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