Unlock Financial Opportunities for Your Small Business
The Alaska SBDC Mini Grant Funding Support Program is specifically designed to help small businesses, especially those in underserved communities, prepare stronger applications for loans, grants, and other forms of financing. This increases their chances of securing the necessary funding to grow and sustain their operations.
What is the Mini Grant Funding Support Program?
The Mini Grant Funding Support Program provides up to $5,000 to help cover costs associated with legal, accounting, or financial services needed to apply for jurisdictional funding. Whether you need assistance with contract reviews, financial statement preparation, or loan packaging, our program is here to help you navigate the complexities of securing governmental funding.
What is Jurisdictional Funding?
Jurisdictional funding refers to financial support provided to small businesses by various levels of government—such as local, state, federal, or tribal entities. This support can come in the form of loans, loan guarantees, and grants to promote economic development, job creation, and business growth in specific areas. Essentially, it’s financial help from the government to support your business’s success and growth.
Who Qualifies?
The program is open to Alaska-based businesses that are established clients of the Alaska SBDC. These businesses must be either “very small businesses” with ten or fewer employees or small businesses that are at least 51% owned or controlled by:
- Women
- Alaska Natives or Native Americans
- Minorities
- Veterans
- Other historically underrepresented or disadvantaged individuals
Additionally, applicants must sign up for the BuyAlaska program, a free online directory supporting local Alaskan businesses.
Reporting Requirements
Awardees are required to provide the following:
- Usage of Funds Report: To be submitted within 90 days of receiving the award, detailing how the grant was used.
- Funding Status Report: To be submitted within six months, updating on the status of your funding application. Monthly updates are required until the funding is received or the application is rejected.
Eligible Services
Mini grants can be used for:
- Legal Services: Contract review, compliance advisory, intellectual property protection, dispute resolution, and more.
- Accounting Services: Financial statement preparation, audit support, budgeting and forecasting, tax planning, and compliance.
- Financial Services: Loan packaging, financial analysis and planning, capital structure advisory, cash flow management.
How to Apply
- Sign Up as an SBDC Client: If you’re not already an SBDC client, sign up to become one.
- Meet with an Advisor: If you’re already an SBDC client, schedule a meeting with your advisor to determine eligibility and learn about the program.
- Meet with a Funding Specialist: Once you’ve met with your advisor and determined your eligibility, meet with a Funding Specialist to discuss program details and review funding opportunities.
- Submit Your Application: Fill out the Mini Grant Funding Support application. Your Funding Specialist will help you with this process.
Ready to Get Started?
Apply for the Alaska SBDC Mini Grant Funding Support Program today and take the next step toward securing the funding your business needs to thrive.
Contact us for more information or to schedule a meeting with a Business Advisor at (907) 786-7201 or via email.