Alaska Microloan Loan Program
Alaska offers microloans up to $35,000 for one borrower or $70,000 for two or more borrowers to support small business capital needs.
About this program
The Alaska Division of Investments Microloan Loan Program helps small businesses access capital for working capital, equipment, construction, and other commercial purposes. The business must be located in Alaska, and applicants must have been Alaska residents for the 12 months before applying. Larger requests above $35,000 require documentation that a financial institution denied the request or will only finance part of the project.
Eligibility
Alaska resident entrepreneurs and small businesses located in Alaska may apply for eligible commercial purposes such as working capital, equipment, construction, or other business costs.
Requirements
- Business must be located in Alaska.
- Applicant must have been an Alaska resident for the 12 months before the application date.
- Loan proceeds must be used for working capital, equipment, construction, or other eligible commercial purposes.