As of today, Governor Mike Dunleavy submitted revisions to the Legislative Budget & Audit Committee to further expand eligibility to the AK CARES grant program. Under the new modifications, Alaska businesses which previously received Paycheck Protection Program (PPP) or Economic Injury Disaster Loans (EIDL) will qualify for funding. The previous $5,000 maximum PPP or EIDL restriction is set to be lifted. Alaska businesses which received PPP or EIDL will no longer have to pay back their EIDL & PPP amounts to qualify for the AK CARES grant. Furthermore, businesses which operate as a secondary source of income will become eligible under the new revisions. These changes are set to take place within the coming few weeks.
AK CARES grant applications can be made at www.akcaresonline.org. HEDC is available to assist businesses with their AK CARES grant applications. Our 2nd Avenue office in Bell’s Store is open Tuesday – Friday, 9am – 4pm.