Section 44.33.965 - Limitations on loans(a) The department may use money from the Alaska microloan revolving loan fund to make loans of up to $35,000 to a person or loans of up to $70,000 to two or more persons.(b) A loan under AS 44.33.950 - 44.33.990(1) may not exceed a term of 12 years, except for extensions under AS 44.33.955;(2) may not bear interest at a rate greater than the prime rate, as defined in AS 44.88.599, plus two percentage points, but that may not be less than four percent a year or more than eight percent a year;(3) must be secured by collateral acceptable to the commissioner; and(4) may not be made to a person who has a past due child support obligation established by court order or by the child support services agency under AS 25.27.160 - 25.27.220 at the time of application.Amended by SLA 2018, ch. 102,sec. 2, eff. 12/4/2018.Added by SLA 2012, ch. 58,sec. 13, eff. 6/7/2012. See SLA 2018, ch. 102, sec. 4.