The State Small Business Credit Initiative (SSBCI) is a federally-funded program intended to attract lenders & investors to help with funding businesses that can’t get conventional business loans from banks & lending institutions.
The AK SBDC is the administrative lead on the program for Alaska, and will deploy the funding to lenders and investment funds.
Over the last few weeks, Alaskans have begun to see funding from the latest federal relief bill start to pour into the state. From individual payments of up to $600 per person to early-stage PPP loans and more, dollars are starting to flow again at a time when our businesses and neighbors need it most. As January progresses we should start to see even more funding programs start to come online bringing even more relief to businesses.
The Alaska SBDC continues to provide the best source of COVID-related business assistance information in the state. Our Weekly Briefings with the SBA, IRS, Foraker Group and other organizations have started again and are an excellent opportunity to get your questions about the various relief programs (PPP, EIDL, EIDL Advance, etc) answered in real-time. Our COVID-19 Resource Page has all of the available information on COVID-19 related programs as well as how-to guides on applications and PPP forgiveness.
While there is still a ways to go to get back to the pre-COVID days, it’s becoming more and more clear that we’re moving into a new phase of this long, grueling pandemic. Now, more than ever, we need to support each other and our local businesses to help get through this last stretch. To help you do just that, we’ve launched the BuyAlaska Business Directory. With more than 250 local businesses signing up in the first week, this is a fantastic way for individuals to find places to buy local and keep their dollars in their communities.
Lastly, the Alaska SBDC knows how important it is to have help in times like these. That’s why we’re offering all of our workshops and trainings (a $5,000 value) for free to all small businesses and nonprofits through March 31st. With all of the other things that you have to worry about right now, how to pay for the training you need to keep your businesses going shouldn’t be one of them.
The Alaska SBDC is proud to partner with all of the amazing entrepreneurs that make this state so unique. We will continue to find ways to help you succeed and showcase the amazing things that all of you are accomplishing in the face of unprecedented hardships.
You can read our full January newsletter here!
Alaska SBDC Executive Director