Alaska Small Business Assistance

The Alaska Business Development Center is currently under contract with the Alaska Division of Economic Development, previously known as the Alaska Division of Investments. ABDC was awarded the Alaska Small Business Assistance contract in fall 2010, to act as the Division’s advocate and provide assistance to the Alaska fishing industry, small businesses and entrepreneurs located in Alaska. ABDC’s consultants are available to assist potential borrowers with the completion of the Division’s loan applications, extensions on existing loans and/or loan modifications. Additional assistance is provided through educational workshops focused on financial related topics.

Alaska Capstone Avionics Loan Program Loan Program Goal and Objectives: Loans may be made to purchase and install eligible Capstone avionics equipment in aircraft that are substantially operated in Alaska. Avionics to be financed cannot have been purchased and installed more than 120 days prior to the date that a loan application is received by the Division of Economic Development.
Commercial Fishing Loan Program Loan Program Goal and Objectives: To provide long-term, low interest loans to promote the development of predominantly resident fisheries, and continued maintenance of commercial fishing vessels and gear for the purpose of improving the quality of Alaska seafood products. Eligible Loans: Engine Fuel Efficiency Upgrade, Extension, Limited Entry Permit Purchase, Loan Assumption, Product Quality Improvement, Purchase of Quota Shares, Refinance, Refinance of Vessel/Gear, Tax Obligation, Tender Vessel Product Quality Improvement, Vessel Purchase, Vessel Upgrade or Gear Purchase/Upgrade.
Fisheries Enhancement Loan Program Loan Program Goal and Objectives: Loans may be made for planning, construction, and operation of fish hatchery facilities, including preconstruction activities necessary to obtain a permit, construction activities to build the hatchery facility, and costs to operate the facility. Loan funds may not be used to reimburse an applicant for expenses which were paid for more than six months before receipt of the application by the Division of Economic Development.
Rural Development Initiative Loan Program Loan Program Goal and Objectives: To provide private sector employment by financing the start-up and expansion of businesses that will create significant long-term employment.
Small Business Economic Development Loan Program Loan Program Goal and Objectives: To provide private sector employment by financing the start-up and expansion of businesses that will create significant long-term employment.

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