Think you’re alone in trying to figure out what to do next with your idea or business? Our FAQ list includes questions asked repeatedly by new business owners, existing business owners, and potential business owners. You are far from alone and may be surprised to find many of your questions here. If you don’t see it here, contact an SBDC office in your area and get your answer today.
We also have a set of Basic Business FAQs.
PROVIDING BUSINESS GUIDANCE, SERVICES, AND RESOURCES TO ALASKAN ENTREPRENEURS.
Mission: To spark the amazing in Alaska- one idea, one business, one community at a time.
SBDC provides resources, advice, and assistance that help small businesses grow and create measurable economic impact throughout Alaska. Assistance is provided by experienced business advisors and experts through on-site and/or online interactions or training, and at no or very low cost to clients. No other program offers the same reach, resources or opportunities to create an impact to businesses at every stage of development.
The U.S. Small Business Administration (SBA) is a federal agency that provides aid, counsel, and disaster assistance to small businesses. They are able to fulfill their mission, in part, through the creation of Small Business Development Centers (SBDC).
The Alaska SBDC is funded, in part, by the U.S. Small Business Administration (SBA), as well as matching funds from the state of Alaska, and contributions from partner boroughs, cities, and other sponsors throughout the state. This statewide program is hosted by the University of Alaska Anchorage (UAA) through the Business Enterprise Institute (BEI).
SBDCs are nationwide and offer one-on-one, no-cost confidential counseling, low-cost workshops, and reference libraries. SBDCs are part of the nation-wide Association of Small Business Development Centers (ASBDC), which works on behalf of the SBDCs nationwide to support small businesses.
The Alaska SBDC is staffed by certified business advisors and provides entrepreneurs with business assistance and tools to aid in their success – completely at no-cost.
Our experienced advisors cover topics that include business planning, financial analysis, marketing, accounting, cash flow projections, and new business feasibility, to name a few. If you are interested in setting up an initial appointment, please complete our online client registration.
We provide assistance for:
- New businesses
- Established businesses looking to grow
- Purchasing an existing business
No, we are prevented from doing so because the Alaska SBDC is an economic development arm of the state of Alaska. Therefore, we rely on tax-supported appropriations and are mandated to work only with for-profit companies.
We welcome you to join us for any Alaska SBDC workshops that may assist you in your venture. You are always welcome to utilize our no-cost resources under the Tools section on our website. Here are a few resources that may be helpful:
Our cooperative agreement with the Small Business Administration (SBA) states our award is governed by and constituted under federal law. Since marijuana is illegal under federal law, we are prevented from assisting clients who engage in its sale and possession.
No, the SBA does not directly lend money. However, it does provide guarantees, which eliminate some of the risks to its lending partners, such as banks, community development organizations, and micro-lenders.
The Small Business Administration (SBA), which is one funder of the Alaska Small Business Development Center (SBDC), is not a direct lender (with the exception of disaster loans). The SBA instead guarantees loans that lenders make to businesses.
It is the responsibility of businesses to work with their lender directly and the lender applies to the SBA. If a borrower defaults on a loan, the SBA pays guaranty to the lender. For more information, register as a client and make an appointment to meet with an Alaska SBDC business advisor.
To be eligible for an SBA business loan, a small business applicant must:
- Be an operating business and be organized as a for-profit
- Be located in the United States
- Be a small business based on regulatory size requirements (13 CFR Part 121)
- Demonstrate a need for the desired credit
- Owners must be of “good character” and demonstrate repayment ability
If you have questions, please connect with the Alaska SBA District Office directly.
The Alaska SBDC helps small businesses grow throughout Alaska via our expanding online resources and business management expertise. Our advisors are with you every step of the way whether you’re just starting, maintaining and growing, or exiting your business. We can also help with the buying and selling of businesses across the state!
Growing season is every day for SBDC clients, regardless of the region, the season or the weather. We know what it takes to succeed in business, every step of the way, and our clients are reaping the benefits of SBDC expert assistance. Grow with us.
If you’re worried about your cash position or wondering whether you’re going to be able to pay your bills later this year, then it’s time to do a cash flow and profit plan projection.
This template will help you develop a profit plan and cash budget forecast that will help you make sure you keep enough cash on hand to pay bills, meet payroll, and plan for one-time expenses such as equipment purchases or tax payments in the coming months. Ultimately, it will help you sleep better at night. If you haven’t already, apply to work with an advisor on these crucial steps online here.
One needs to look no further than the newspaper industry today to realize that even the most notable of business models need to reinvent to survive. Successful companies find ways to make change their catalyst for growth.
Reinvent your company, and plan for change, by understanding your assets and strengths and building a toolkit that will reinvent the way you do business.
Visit our online education portal to explore the reinvent stage of your business. You can also check out our free tools and resources relevant to your business life cycle here.
If you haven’t already, apply to work with a business advisor for free, and one-on-one, to guide you through this next step of your business stage with efficiency and confidence.