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AMC Revolving Loan Fund Welcomes New Lending Partners
October 26, 2026
Lead Entities: Alaska Division of Agriculture, First Bank, Northrim Bank, Spruce Root
Grant Component: Revolving Loan Fund
The Alaska Mariculture Cluster (AMC) is pleased to welcome First Bank and the Alaska Division of Agriculture as two new lending partners in its Revolving Loan Fund (RLF) program. They join existing lending partners Northrim Bank and Spruce Root in expanding access to financing for Alaska’s mariculture industry.
The AMC RLF helps mariculture businesses overcome barriers to financing by providing collateral support for loans issued through participating lending institutions. This support can help businesses secure financing for start-up costs, equipment purchases, working capital, expansion, and other needs related to mariculture production and processing.
The addition of these two lending partners provides Alaska’s seaweed and shellfish businesses with more options to access capital and supports the continued growth of the industry.
To learn more about the program, eligibility requirements, and how to apply, visit the AMC Revolving Loan Fund webpage or contact Jamey Young at jamey@seconference.org. You can also attend a RLF Webinar hosted by the Alaska Mariculture Alliance on Monday, November 16 at 12pm.
Free Business Planning Resources to Increase Loan Readiness
The AMC’s Mariculture Business Planning Program exists to support mariculture entities in their business and technical operations. This program provides free professional business planning services to strengthen operations, scale production, and increase improve readiness to access capital. The program is led by Spruce Root, a subaward recipient, and GreenWave, Seamark, and Kelson Marine who will work with kelp and oyster farming and processing sectors.
About the Alaska Mariculture Cluster
In September 2022, Southeast Conference was awarded a $49 million U.S. Economic Development Administration (EDA) grant to stimulate private investment and grow Alaska’s mariculture industry to $100 million in sales in 10 years. The Alaska Mariculture Cluster grant involves a large coalition of state agencies, Tribes, non-profits, and others working together over a five year period ending May 2027.
