Alaska Small Business Economic Development Loan
Alaska provides small business loans generally up to $750,000 for startup, expansion, working capital, equipment, and other commercial purposes.
About this program
The Alaska Small Business Economic Development loan program finances startup and expansion projects that create or retain private-sector employment in eligible Alaska areas. Borrowers must meet the Small Business Administration definition of small business, and loans can be used for working capital, equipment, and other commercial purposes. The program is available statewide in smaller communities and on a limited basis in communities of 30,000 or more, depending on fund availability.
Eligibility
Small businesses that meet SBA size standards and operate in eligible Alaska communities may apply for financing that creates or retains jobs.
Requirements
- Business must meet the SBA definition of a small business.
- Project must create or retain jobs in an eligible area.
- Loan proceeds must be used for working capital, equipment, or other eligible commercial purposes.