NSEDC originally established the revolving loan program to help residents purchase permits and gear for Norton Sound commercial fisheries. The revolving loan program makes loans to local people for purchasing large vessels, upgrading fishing boats and fishing related equipment, permit purchases, and buying salmon, herring, crab and halibut fishing gear.

In 2001, NSEDC expanded this program to include the large vessel loan option. This option is available to local Norton Sound fishermen to specifically address the vessel needs for the developing Norton Sound red king crab and halibut fisheries.

Click the following links to download applications for either
loan program:

Revolving Loan Program Application
Large Vessel Loan Option Application

In August 2011, the NSEDC board of directors established a
loan forgiveness policy to ease the financial burden related to
the death of a resident fisherman from NSEDC member communities. Details of the policy and an application for loan forgiveness can be found here:

Fisherman Loan Forgiveness Policy and Application

For more information on NSEDC's loan programs contact:

Virginia Nashalook
Senior Accountant
1-800-650-2248