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The Alaska Industrial Development and Export Authority board recently approved participating in three business loans originated by banks for projects located in Anchorage and Wasilla, the state agency said:
• A $6 million loan to to B&L Motels Inc., a Kansas corporation that owns and operates eight hotels in Alaska, Washington, Arizona, Colorado and Kansas. The loan is to refinance debt and provide long-term financing for a newly built 79-room Comfort Suites hotel at 2919 W. International Airport Road in Anchorage. AIDEA's share of the loan is $5.4 million, with First National Bank Alaska financing the rest. • A $3 million loan to LINA LLC of Anchorage, for long-term financing of a newly built six-bay Alaska Laser Wash at 4708 Old Seward Highway in Anchorage. AIDEA is financing $2.699 million while Northrim Bank is handling the rest. • A $1.031 million loan to Wasilla Center Development of Anchorage -- long-term financing for a recently built 9,000-square-foot commercial office and retail building at 611 S. Knik Goose Bay Road in Wasilla. AIDEA is providing $928,125 of the loan with First National financing the rest.