Alaska Small Business Development Center

June Update for the Alaska SSBCI

June 13, 2023

Despite summer getting off to a bit of a dull start, it’s sunshine and activity in SSBCI-land and there’s a lot of growth on the horizon.

We’d like to warmly welcome Brian Fechter as the State Small Business Credit Initiative’s new Equity Program Director. Since joining us at the end of May, Brian has dug in and is progressing page by page shaping up our final equity documentation and working in earnest to put together and Advisory Board. Not to put undue pressure, but we are expecting magnificent outcomes in this area over the next couple months as we truly get this program up and running.

Our lending program continues to mature. In the last month SSBCI received lender applications for both the Collateral Fund and Loan Participation Programs; and the Guarantee program continues to be steady. As with any new program, we identified some areas of improvement but we have excellent lines of communication with Alaska’s lenders and are working hand-in-hand to ensure success all around.

We’ve been able to provide small business loans in a variety of industries like aviation, health and wellness, construction, and tourism. Not only that, but the business owners utilizing these funds are located throughout the state: the Kenai Peninsula, Fairbanks, the Mat-Su Valley, and Kotzebue. SSBCI’s roots are healthy and flourishing; we’re proud to be empowering Alaska.

To learn more about SSBCI in general, visit the U.S. Treasury page. Learn more about SSBCI in Alaska.

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