From the Desk of
House Speaker Gail Phillips

September 29, 1998


Dear Alaskan:

Assistance is on the way for our state’s commercial fishermen and marine industry-related business owners hurt by the poor salmon returns of the past two fishing seasons. On September 17, the U.S. Small Business Administration declared an economic disaster for the state’s fisheries harmed by El Nino’s impact. Kenai Peninsula fishermen and women, as well as marine industry-related business owners, may also be eligible for this financial assistance.

The program offers low-interest four percent loans, with up to 30 years to repay. The loans may be used for food, fuel and utilities, or, for the businessperson, for fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s economic effect.

To start the application process, you should call the SBA at 1 800 488-5323 for a short screening interview. An application will then be mailed to you. Loans can range from $100 to $1.5 million.

Also, the Alaska Division of Investment has announced it will work with borrowers to reorganize and refinance existing debt – you may reach the Division at 1 800 478-5626. Hearing impaired persons may call (916) 566-7388.

Please do not hesitate to call my Homer Office at 235-2921 if I may be of assistance to you in this regard. We are located at 345 Sterling Highway, #102B, Homer, AK 99603 (behind the Trailside Mall at the intersection of Sterling Highway – Homer Bypass and Pioneer Avenue).



Representative Gail Phillips