AIDEA.

• Position: INSIDE ALASKA BUSINESS

The Alaska Industrial Development and Export Authority (AIDEA) Board in October approved two loan participations for projects located in Anchorage.

The first participation, to Spur Development, LLC is for $3.6 million (90 percent) of a $4 million loan brought to AIDEA by Northrim Bank. Northrim originated the loan and is participating with $400,000. The purpose of this loan is for refinancing of the 19,951-square-foot Fresenius Renal Care Building located at 3950 Laurel Street in Anchorage. This AIDEA loan participation produces economic benefit to the borrower by providing a fifteen year term at a fixed rate of 4.31 percent. The borrower also benefits by reducing the monthly payment and extending the maturity.

The second...