Recent changes, adopted by the 106th Congress, have been made to the U.S. Small Business Administration's three primary loan programs that are designed to encourage private sector lenders to make smaller-sized loans readily available to small businesses. In the 7(a) General Business Loan Guaranty program, the SBA bill raises the guaranty percentage to 85 percent for loans up to $150,000 and simplifies the guaranty fee structure. The biggest change to SBA's 504 Certified Development Co. program, increases the maximum amount for SBA's loan portion. Congress also raised the maximum size for loans under the SBA Microloan program to $35,000 and expanded the number of potential lenders to a maximum of 300.

The Alaska Department of Environmental Conservation has lowered the interest rates on its loans effective Dec. 29, 2000. The lower interest rates will allow more communities to build water and sewer projects. Rates will vary depending upon amortization periods, but for comparison purposes, the last loan made before the changes went into effect had an interest rate of 4.4 percent. A loan made today with the same terms would have an interest rate of 2.5 percent. Existing loans at higher rates will be converted to the new lower rates.

The Denali National Park Hotel is conducting its last year of operation and will close in September. The historic hotel will eventually be transformed into The Denali Science and Learning Center that will be operated by the National Park Service and be open to the public. Denali Park Resorts currently operates the 103-room hotel. The Alaska Railroad began construction of the original hotel in 1938. The hotel was later rebuilt following a fire.

Kudos

Credit Union 1 has won a Dora Maxwell Award from CUNA, the national trade association of credit unions. Credit Union 1 was recognized in the national competition with a second place award for charitable work in its community. The credit union will be honored with a reception during CUNA's Governmental Affairs Conference in February in Washington, D.C.

Alaska Pacific Bancshares Inc.'s board of directors has declared a quarterly cash dividend of 5 cents per share on the corporation's outstanding stock. The cash dividend will be payable on Feb. 23 to stockholders of record at the close of business Feb. 12.

Lance Campers and Weaver Optics are the first two recipients of Alaska magazine's new product-testing program, Alaska Tested Tough. The program utilizes hands-on testing by Alaska outdoor professionals and enthusiasts combined with customized consumer surveys conducted by Harris Interactive, a division of the Harris Poll. Lance earned the Alaska Tested Tough designation for its 11-foot truck camper while Weaver's Grand Slam^TM riflescope achieved the honor.

Locator

Alaska Communications Systems Group Inc. has established ACS Infosource Inc. which will encompass the primary functions of directory publications, yellow-page advertising and ACS InfoNet. The site will enable Internet users to access online yellow pages and national residential and business listings through (www.acsyellowpages.com). ACS will release two new products in 2001 under Inforsource: the Mobile Mini, a reduced-version yellow pages geared toward cellular users, and the Alaska Regional Yellow Page Directory.

Sundries

The Anchorage ATHENA Society, a program of the Anchorage Chamber of Commerce, is soliciting nominations for new members of the society. Members are accepted based on their business accomplishment, community service and dedication to promoting women in business. The deadline for nomination submission is Feb. 16. For more information, contact Rhonda Halstead at 907-677-7118.

Nominations are being sought for the third annual Governor's Trails and Recreational Access for Alaska Awards for Excellence. The TRAAK Awards honor Alaska individuals, businesses, organizations and government agencies working to develop or improve trails and recreational access that benefit their community or the state. For an information flyer, call 907-465-4070. Nomination letters must be postmarked by March 30.

Nominations are being accepted for the 20th annual First Lady Volunteer Awards. The awards honor Alaskans who have volunteered countless hours to programs, events and services that make Alaska a better place to live and work. Returned applications must be postmarked by April 2. To obtain a nomination form, call 907-269-7450.