The Alaska SBDC’s State SSBCI Capital program launched in March 2023 and has already helped close nearly $3 million in new loans with another $15 million in additional loans planning on participating in the program in the near future.
Most of the activity has been in the Loan Guarantee program, but the Loan Collateral and Loan Participation programs are launching later this month and lenders are already lining up deals to participate.
The Alaska SSBCI Equity program is also moving along having closed the initial request for fund proposals and is anticipating deploying all $10 million through two new equity funds this summer. These funds will help to deploy $20 million in new equity funding to high growth businesses across the state, significantly increasing the total amount of equity capital investment in Alaska.
With all of these news funds becoming available, it’s more important than ever for the Alaska SBDC to help the unserved and underserved entrepreneurs in the state position their businesses to secure funding.
Over the next three years, we will be using over $7 million in new technical assistance funding from a variety of sources to provide training, resources, tools and other outreach to rural and remote communities, minority entrepreneurs, veteran-owned businesses, women-owned businesses and others.
Be sure to watch for future newsletter updates that will go into more details on how the Alaska SBDC and our many partner organizations are planning on changing business and economic development in Alaska!
To learn more about SSBCI in general, visit the Treasury website. You can also learn more about SSBCI in Alaska.