AK CARES

 

DCCED and AIDEA have partnered with Credit Union 1 to provide
emergency relief for Alaskan small businesses. The application period is now open.
 

 

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.
 
 To learn more about who is eligible for funding and what is needed to apply, please 
click below to visit the DCCED website.
 
                         View More Details

 

 

 

  Who Can Apply?
CU1 members and non-members are all welcome to 
apply.  Eligible small businesses include C-Corps, S-Corps, Partnerships, nonprofits (501(c)3 or 501(c)19), or sole proprietorships with a current Alaska Business License that:
 
  • Did not qualify or were otherwise unable to obtain SBA PPP or EIDL funding
  • Business was licensed and established when the public health disaster emergency declaration was issued by Governor Dunleavy on March 11, 2020
  • Have on average 50 or fewer employees

 

 
    
 
   Who is Not Eligible to Apply?
  •    Marijuana related businesses
  •    Secondary income sources 
  •    Out of state businesses  
  •    Businesses that have secured funding from the SBA’s PPP, EIDL, or 
    other federal funding programs under the CARES Act
  •    Businesses with more than 50 full time equivalent employees
  •    Businesses that have filed bankruptcy Businesses that do not meet
    the eligibility criteria     outlined above

 

This program is now accepting applications.
Please gather your information supporting eligible expenses and make sure your business license is current.
Grants are expected to range from $5,000 to $100,000 based on eligible expenses. For frequently asked question click here.
If you have any questions please send an email to akcares@cu1.org  or call 907-339-8597

 
Eligible Expenses
The amount of each grant award will be based on the following COVID-19 emergency related eligible expenses during the period 8 weeks prior and 8 weeks following your business 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 / lenders
  • 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
  •                                  

 

 

 

AK Cares Approved Applications:   (Mapped based on city name)
 
 
 
 



In Process Applications Received: (Regional mapping based on zip code & largest population center where applicable)
       280 Applications Requesting $11,746,647.82 in Grant Funds Submitted For Approval From Rural Communities In Process as of 6/24/20

 
 
 
996 Applications Requesting $42,788,364.04 In Grant Funds Submitted for Approval From Metropolitan Areas In Process as of 6/24/20