HEDC will continue to update this page with resources as we compile them.
(last update April 16, 2020)
We can also provide some technical assistance with the resources below. Please call us at 766-3130 or email us with any questions or concerns. Below are the three main topics on this page; click below to jump to any of these sections on the page.
Assistance for Small Business and Entrepreneurs
State Economic Revitalization Efforts
Where to start? The following questions might help point you in the right direction. Do you need:
- Capital to cover the cost of retaining employees? Then the Paycheck Protection Program might be right for you.
- A quick infusion of a smaller amount of cash to cover you right now? You might want to look into an Emergency Economic Injury Grant. These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). To access the advance, you must first apply for an EIDL and then request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.
- To ease your fears about keeping up with payments on your current or potential SBA loan? The Small Business Debt Relief Program could help. This program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans. Under it, SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months. This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law. Find complete details on each of these programs by downloading The Small Business Owner’s Guide to the CARES Act and read page 7.
- Just some quality, free counseling to help you navigate this uncertain economic time? Contact the Alaska Small Business Development Center or take part in their free, daily webinar to answer questions about all the options available to you.
This overview of the CARES Act for Small Businesses is a good recap of all the programs available.
The Alaska Small Business Development Center has created a COVID-19 Resource Center with guidance, updates and resources to help businesses and entrepreneurs adapt in an unpredictable situation. It includes On-Demand trainings (free through April), tips, news and more.
Spruce Root has a team of business coaches and advisers available for assistance.
- America’s Small Business Development Center COVID-19 Small Business Resources
- Interim Guidance for Businesses and Employers from Centers for Disease Control (CDC)
- Guidance on Preparing Workplaces for COVID-19 from Occupational Safety and Health Administration
- Coronavirus Tax Relief from the IRS
- Is COVID-19 killing your cash flow? 6 things you can do right now From Center from Inclusive Entrepreneurship
This information may change and will be updated based on legislation regarding Unemployment Insurance benefits. Pending federal legislation will loosen some restrictions on available unemployment benefits.
Frequently Asked Questions about unemployment benefits during the COVID-19 response from State of Alaska.
How to file for unemployment benefits from the State of Alaska.
Alaska Gov. Dunleavy’s 6 Point Economic Revitalizing Plan
Information sheet (March 20) from the Alaska Economic Revitalization Team