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Alaska’s maritime economy works because we invest in people, not just projects

State loan programs have issued more than 9,300 loans since 1972, helping fishermen and coastal businesses buy boats, rebuild facilities and expand.

Summary by Homer News
Reid Williams, a second-generation fisherman from Cordova, grew up in a fishing family and began working as a teenager. After graduating in 2019, he leased a vessel and permit while working to build something of his own. With support from the state’s Commercial Fishing Loan Program, he was able to purchase his first boat and permit, a step toward long-term ownership that would have been impossible to achieve through traditional financing.

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Homer News broke the news on Thursday, May 21, 2026.
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