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Session: State Capitol, Room 507 Juneau, AK 99801-1182 Phone: (907) 465-2647 Fax: (907) 465-3518 Send E-Mail Interim: 716 W 4th Avenue, Suite 310 Anchorage, AK 99501-2133 Phone: (907) 269-0265 Fax: (907) 269-0264 |
Bill Seeks to Decrease Risk by Expanding Bank's Customer Base
| For Immediate Release: April 10, 2000 | |
| Contact: | Representative Eldon Mulder at (907) 465-2647. |
Juneau -- The Alaska House of Representatives Monday passed House Bill 339, sponsored by Representative Eldon Mulder (R-Anchorage).
HB 339 expands the lending authority of the Commercial Fishing and Agriculture Bank (CFAB) and enables it to make loans to Alaskan small business enterprises involved in natural resource development and tourism.
"Private- and public-sector auditors alike give the bank favorable reviews, but consistently note that the concentration in agriculture and fishing industry loans results in an unusual level of risk exposure and vulnerability to the ups and downs of these industries," Mulder said. "HB 339 recognizes these underlying concerns and allows CFAB to expand its customer base to other Alaskan industries needing loan assistance."
HB 339 passed the House 24-14. Notice of reconsideration was filed.
Attachments:
Broadcasters note: Audio comments are available on the Majority Actuality line, 1-800-478-6540
= Eldon Mulder, 231 K