As we enter into the eighth week of the statewide hunker down order, we’re starting to see some light at the end of the tunnel. State and local officials have begun to ease up on the restrictions allowing businesses to operate, at least on a limited basis. Alaskan businesses have also started to see Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) funds hit their bank accounts in recent weeks adding some much-needed capital to struggling businesses across the state. In all, nearly 9,000 Alaskans received roughly $1.3 billion in federal funding, most of it PPP loans, to help them remain open and retain their employees. Hopefully, this will help move some of the 50,000 Alaskans who currently find themselves unemployed back into the workforce.
But much more needs to be done. Small businesses across the state are feeling the strain of going almost two months with little or no revenue. Some are being forced to close their doors for good and others are desperately searching for ways to avoid the same fate. Federal, state, and local governments are all trying to determine the best way to help small businesses, which is one of the reasons I’m reaching out to you today.
We want to hear from you about how your business is doing, what you’re seeing in your local economy, and what assistance you need to help you stay open:
The Alaska SBDC will continue to do everything we can to help small businesses across Alaska survive and thrive in the difficult times ahead. If there is anything we can do to help, please don’t hesitate to reach out and let me know. In the meantime, thank you for everything you’re doing for our state and for all the many ways you and your businesses are finding to support your communities in these times of need.