Applications now open for state grant program aiming to help Alaskan small businesses, nonprofits

Small Alaskan businesses as well as nonprofit organizations impacted by the COVID-19 pandemic can get relief through the State of Alaska AK CARES Grant Program, which launched on June 1. The application is available on Credit Union 1’s website.

The grant program is for small Alaskan entities with 50 or fewer full-time employees that did not qualify or were otherwise unable to obtain funding through the U.S. Small Business Administration Paycheck Protection Program (PPP), the SBA Economic Injury Disaster Loans (EIDL), or other federal funding programs under the federal CARES Act.

Grant amounts of $5,000 to $100,000 will be based on eligible expenses, which include payroll, short-term debt related to the emergency, rent/mortgage, utilities, the purchase of personal protective equipment, and reopening expenses. Businesses interested in applying should review the provided checklist and start gathering the necessary information to support the business’ eligible expenses.

For more information, go to the AK CARES Grant Program webpage.