FINANCIAL ASSISTANCE

Alaska SBDC and AEDC on PPP Changes
There were a number of changes made to the Paycheck Protection Program (PPP) this week and AEDC and the Alaska Small Business Development Center (SBDC) want to make sure you have the latest information. Here's an overview of what's new and an outline of available resources:

Mom and pop businesses and small nonprofits prioritized
Beginning on Wednesday, Feb. 24 through Wednesday, March 10, the Small Business Administration (SBA) will exclusively offer PPP loans to small businesses, nonprofits and sole proprietors with less than 20 employees.

This 14-day window is to make the PPP more accessible for Mom and Pop businesses and nonprofits, as well as remove restrictions for prior non-fraud felony convictions, individuals with student loan delinquency/default statuses, and non-citizen but lawful U.S. residents:
  • These changes are to further reach women-owned, minority-owned, and low-income, rural, and underserved businesses and communities in a more intentional way
  • For businesses with fewer than 10 employees, the share of funding is up nearly 60%
  • For businesses in rural communities, the share of funding is up nearly 30%
If you're interested in applying for the PPP, we encourage you to take advantage of this 14-day window. If you're just getting started, you’ll want to connect with a PPP lender in Alaska. Review who is participating here!

Child Care Providers and the PPP
Both non-profit and for-profit child care providers are eligible for the PPP.

Confused about the First and Second PPP Draws?
Perplexed by the Paycheck Protection Program (PPP)?
Alaska SBDC's on-demand video is a step-by-step walk-through of the PPP application for both the first and second draw opportunities. Register and watch at your convenience here.

Live PPP Briefing Webinars 
The Alaska SBDC hosts Coronavirus opportunity briefings every Tuesday for small businesses. 

On Feb. 24, the Alaska SBDC in partnership with the Foraker Group and the SBA discussed the changes to the EIDL and the PPP. You can watch that webinar here. 

Join the upcoming PPP webinar, Wednesday March 3 by saving your virtual seat here.

For up-to-date material at your convenience, Alaska SBDC maintains a COVID-19 Resource Center. You can also connect with them on Facebook, Instagram, and Twitter. If you have questions, an Alaska SBDC Business Advisor can guide you through the process - just register to meet at no cost here.