DCCED and AIDEA have partnered with Credit Union 1 to provide emergency relief for Alaskan small businesses.
Small Business Aid
The State of Alaska’s Department of Commerce, Community and Economic Development (DCCED) and the Alaska Industrial Development and Export Authority (AIDEA) have partnered together with Credit Union 1 to provide emergency relief for Alaskan small businesses.
Please note that your application must be submitted electronically via the portal below, and applications will not be processed in-branch.
This program is now accepting applications.
Begin Your Application
Grants are expected to range from $5,000 to $100,000 based on eligible expenses.
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Who Can Apply?
Small businesses based, licensed, and located in Alaska with an Employer Identification Number (EIN) – including C-corps, S-corps, Partnerships, LLCs, Nonprofits (501(c)3 and 501(c)19 organizations) and sole proprietorships – meeting the following criteria are eligible to apply:
- Business was licensed and established when the public health disaster emergency declaration was issued by Governor Dunleavy on March 11, 2020;
- Business has, on average, 50 or fewer full-time equivalent employees; and
- Business was excluded, did not qualify, or was otherwise unable to obtain funding from U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP), the SBA Economic Injury Disaster Loans (EIDL), or other federal funding programs under the CARES Act.
Credit Union 1 members and non-members are welcome to apply.
Who is Not Eligible to Apply?
- Marijuana related businesses
- Businesses that are a secondary income source or part time endeavor
- Out of State businesses
- Business that have secured funding from the SBA’s PPP, EIDL, or other federal funding programs under the CARES Act.
- Business with more than 50 full-time equivalent employees (on average).
- Businesses that have filed for bankruptcy
- Businesses who do not otherwise meet the eligibility criteria.
The amount of each grant award will be based on the following COVID-19 emergency-related eligible expenses incurred by the applicant business between March 11, 2020 through the application date, and eight (8) weeks following the application date:
- Payroll costs and expenses;
- Payment of any short term (less than 24 months) or credit card debt incurred by the applicant to support the applicant's business during the emergency;
- Rent or mortgage payments (unless otherwise waived by lessor/lender);
- Utilities payments;
- Purchase of personal protective equipment required by the business;
- Business related equipment; and
- Expenses incurred to replenish inventory or other necessary re-opening expenses.