Bonanza Fuel, LLC.

Author:Slaten, Russ
Position::INSIDE ALASKA BUSINESS
 
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The Alaska Industrial Development and Export Authority (AIDEA) Board at its August meeting in Ketchikan unanimously approved an energy development loan participation for a project located in Nome.

The loan, to Bonanza Fuel LLC, is for $7,312,500 (90 percent) of an $8,125,000 loan brought to AIDEA by Northrim Bank. Northrim originated the loan and is participating with $812,500. The purpose of this loan is for long term financing for the expansion of a petroleum storage facility.

The project adds three storage tanks to the existing six tanks at the facility and increases storage capacity by 2.3 million gallons to a total of 5.9...

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