Overview

The AMC’s Revolving Loan Fund (RLF) is a collateralization loan program, which is a financing tool – often used by public agencies, nonprofits, or economic development organizations – that helps borrowers qualify for loans by providing or enhancing collateral that a lender requires.

The AMC RLF offers flexibility in its collateralization, maximizes borrowing amounts, and complements existing funding programs, such as the Mariculture Incentive Grant Program (MIGP). The RLF’s goal is to increase access to capital, create quality jobs, and encourage more commerce while protecting Alaska’s environment, indispensable cultural resources, and economic future.

The fund will help stimulate private lending institutions’ involvement in distressed communities by targeting 50% of total RLF funds to indigenous and distressed communities. Where possible, funds will be utilized in conjunction with other public or private monies to fund the development of a mariculture sector in Alaska.

December 2025 Update:

The RLF program added Northrim Bank as an approved lending partner. Borrowers may now apply for a RLF loans with Northrim Bank or Spruce Root.

Apply for Assistance with Our Lending Partners

The AMC’s Revolving Loan Fund (RLF) addresses lending barriers within the industry by offering collateral support to lending institutions for borrowers who do not qualify for traditional loans and by leveraging capital to support rural and distressed communities interested in mariculture.

Please visit our lending partners to learn more about loan services:

Prospective borrowers can encourage their current lenders, if preferred, to talk to Southeast Conference staff about joining the RLF program as a lending partner. For more information and assistance, please email Jamey Young, Revolving Loan Fund Officer.

In accordance with EDA requirements, the interest rate may not be less than the lower of four percent (4%) or 75 percent (75%) of the prime interest rate listed in the Wall Street Journal. The interest rates are set by each lending partner based on current market conditions and overall credit quality and risk factors. The interest rate offered by partnering lenders should be lower than what would be offered without collateral support, given that a portion of the collateral is essentially cash and represents the lowest risk to the lender.

To encourage investment into the Alaskan mariculture industry, Alaska residency is not required for all business equity holders, but at least one equity holder or owner as well as a majority of the full time, non-seasonal employees of the business or Alaskan subsidiary of the business must be Alaska residents.

Eligible businesses include for-profits, start-up businesses, Alaska Native owned start-ups and businesses, and cooperatives. Loans may be intended for production and processing of mariculture products, business expansions, business retention, farms and producers, retail, commercial, service, industrial, and manufacturer operations in relation to the Alaska mariculture industry.

Start-ups and first-time farmers may be required to provide additional information including personal financial statements, business plans and projections, and resumes; approved technical training courses may also be required.

At least 25% of funds and services are targeted directly towards underserved communities and an additional 25% to Alaska Native entities. If there is insufficient demand to meet these lending targets, the RLF will redirect funds with preference continuously being given to Alaska Native entities, underserved communities, and the broader mariculture industry – in this order. The RLF will conduct outreach and awareness efforts to help stimulate demand.

Business Planning & Technical Assistance

Spruce Root business planning services and technical assistance with loan applications and other queries. Click the image below to expand, or visit Spruce Root’s website for more information. Alaska Sea Grant also offers business planning services through Quentin Fong, Seafood Marketing Specialist.

RLF Trifold Brochure

Visit Spruce Root Website

Revolving Loan Fund News