If you own and operate a business in Alaska, you may be looking for funding options. Look no further! Here you’ll find a list of business grants and loans that are only available for Alaska employers. Take a peek and learn if one of these is a fit for your business.
Department or Agency: Alaska Industrial Development & Export Authority
Loan or Grant title: Alaska Industrial Development & Export Authority Loans
Alaska businesses can apply for a variety of loans through a partnership between Alaska Industrial Development & Export Authority (AIDEA) and Global Credit Union. Loans of up to $250,000 can be used to develop and expand a business, which may include purchasing equipment, using the funds toward working capital, refinancing an existing business loan, or purchasing or developing commercial real estate.
Department or Agency: Alaska Department of Commerce, Community, and Economic Development
Loan or Grant title: Alaska SBIR/STTR Grant Program
Alaska businesses that have been awarded funds through the Federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs may be eligible for the Alaska SBIR/STTR Grant Program. The goal of the program is to advance and expand research and commercialization of technology being developed with federal funding. Funds are awarded in amounts up to $125,000 and may be used for business development, market testing, patent filing, related travel expenses, and more.
Department or Agency: Alaska Department of Commerce, Community, and Economic Development
Loan or Grant title: Division of Investments Microloan Program
By helping Alaskan small businesses gain access to capital, this microloan program is promoting economic development throughout the state. The maximum loan amount is $70,000. Businesses can use the funds for working capital, construction, equipment, or other commercial expenses.
Department or Agency: Alaska Department of Commerce, Community, and Economic Development
Loan or Grant title: Division of Investments Rural Development Initiative Fund
The purpose of this loan program is to fund the start and expansion of Alaska businesses in an effort to create long-term employment opportunities. Businesses may be eligible for this loan if they are located in a community with a population of 2,000 or less, or with a population of fewer than 5,000 without a road or railway connection to the cities of Anchorage or Fairbanks. The loan maximum is $300,000.
Department or Agency: Alaska Department of Commerce, Community, and Economic Development
Loan or Grant title: Small Business Economic Development Loans
These loans focus on establishing long-term employment opportunities by financing the start and expansion of private-sector businesses in Alaska. To be eligible, a company must be considered a small business as defined by the Small Business Administration, and the business must be located in an Alaskan community with a population of 30,000 or less. Loans are made in amounts up to $300,000 and must be used to create or retain jobs within those eligible communities.
Department or Agency: Alaska Department of Commerce, Community, and Economic Development
Loan or Grant title: Mariculture Loans
These loans are exclusively available for the planning, construction, and operations of mariculture businesses. (A mariculture business cultivates fish or other marine life for food.) Eligible businesses must have a permitted mariculture farm within Alaska. Recipients must have mariculture industry training or experience and must be Alsask residents for 24 consecutive months before applying. Borrowers can receive up to $100,000 per year, with a maximum of $300,000.
Department or Agency: Alaska Department of Commerce, Community, and Economic Development
Loan or Grant title: Division of Investments Alternative Energy Loans
The purpose of this program is to provide access to funding for commercial business owners in support of the purchase, construction, and installation of alternative energy systems. The money may also be used toward energy conservation improvement efforts in commercial buildings. Applicants must be residents of Alaska for at least a full year before applying for this loan. The maximum loan amount is $50,000.
Department or Agency: Alaska Mental Health Trust Authority
Loan or Grant title: Microenterprise Grant
Alaska Mental Health Trust Beneficiaries may be eligible for this grant, which aims to increase self-employment opportunities for people with disabilities. Recipients of this grant can use the funds toward most costs associated with creating a new business, acquiring an existing business, or expanding a current business. To be eligible, a business must qualify as a microenterprise with a maximum of four workers and total capital needs of $35,000 or less.
