Alaska SBDC Communications
A Note from the Alaska SBDC Executive Director
Over the last few weeks, Alaskans have begun to see funding from the latest federal relief bill start to pour into the state. From individual payments of up to $600 per person to early-stage PPP loans and more, dollars are starting to flow again at a time when our businesses and neighbors need it most. As January progresses we should start to see even more funding programs start to come online bringing even more relief to businesses.  

The Alaska SBDC continues to provide the best source of COVID-related business assistance information in the state. Our Weekly Briefings with the SBA, IRS, Foraker Group and other organizations have started again and are an excellent opportunity to get your questions about the various relief programs (PPP, EIDL, EIDL Advance, etc) answered in real-time. Our COVID-19 Resource Page has all of the available information on COVID-19 related programs as well as how-to guides on applications and PPP forgiveness.  

While there is still a ways to go to get back to the pre-COVID days, it’s becoming more and more clear that we’re moving into a new phase of this long, grueling pandemic. Now, more than ever, we need to support each other and our local businesses to help get through this last stretch. To help you do just that, we’ve launched the BuyAlaska Business Directory. With more than 250 local businesses signing up in the first week, this is a fantastic way for individuals to find places to buy local and keep their dollars in their communities.

Lastly, the Alaska SBDC knows how important it is to have help in times like these. That’s why we’re offering all of our workshops and trainings (a $5,000 value) for free to all small businesses and nonprofits through March 31st. With all of the other things that you have to worry about right now, how to pay for the training you need to keep your businesses going shouldn’t be one of them.

The Alaska SBDC is proud to partner with all of the amazing entrepreneurs that make this state so unique. We will continue to find ways to help you succeed and showcase the amazing things that all of you are accomplishing in the face of unprecedented hardships.  

Sincerely,

Jon Bittner
Alaska SBDC Executive Director
Introducing Katie Ashbaugh, BuyAlaska Program Manager
We are thrilled to share that Katie Ashbaugh has officially joined our team as the BuyAlaska Program Manager!

Katie is thrilled to be finding ways to promote Alaska’s small businesses and encourage shopping local first. With a background in the natural sciences and sustainable forest management, Katie took her passion for sustainability into the field of business and has an MBA in Sustainable Systems.

Katie brings a breadth of experience working in small business management from tourism to e-commerce and understands the needs and hurdles that small businesses face daily. Katie has always felt a sense of entrepreneurship and is currently undertaking her small business venture. Outside of the office, Katie is an avid swimmer, skier, and lover of the outdoors.

Welcome to the team, Katie!
The 2020 Alaska SBDC Annual Report is Coming!
The last twelve months have presented unbelievable challenges to individuals and small businesses across the state. There is no question the road to recovery has been long.

Notably and to help share this story, our 4th annual Small Business Survey received its highest response rate since its inception. It provides unique insight into the trials, perspectives, and tenacity of Alaska's small business community.

Coupled with exceptional perseverance, the outlook for businesses' financial situations in the coming year is generally pessimistic in contrast to previous years.

This isn't surprising, however, our results show a regional breakdown of all CARES distributions received before September 30, 2020, an indication of its value and impact locally, and a nod to further need for funding well into 2021.

The Alaska SBDC is proud to present the results of our 4th annual Alaska Small Business Survey in February. Stay tuned!
New! The BuyAlaska Directory is Here!
In partnership with 30+ leading organizations across Alaska, BuyAlaska connects consumers to Alaskan-owned businesses and encourages shopping small before turning to national retailers.

BuyAlaska has just launched a directory for Alaskan-owned businesses. Creating a listing is simple and will guide customers to your business! Get involved:

  1. Visit www.BuyAlaska.com
  2. Sign up as a BuyAlaska Member for free
  3. List Your Business on the BuyAlaska Directory
Alaska SBDC Relief Bill Overview
The changes and updates being implemented due to the new relief bill have caused a lot of questions.

The Alaska SBDC is here to help make sense of it all, download the PDF version of this file below!
Alaska SBDC Supports Local Businesses
Kodiak
Alaska SBDC Workshops
The Alaska SBDC is proud to offer all of our workshops for free through March 31st. 
There has never been a better time to access informative entrepreneurial education on your time and at your convenience. Head to our Workshops to take advantage of this opportunity.
On Demand
Free
February 9
12:30 - 1:15 pm
February 18
2:00 - 3:30 pm
State Communications
1MC Statewide Session + Call for Presenters
1 Million Cups (1MC) is looking to expand statewide and you can be one of the first to get involved with 1MC Alaska! A virtual information session will be hosted this Friday, January 22 for those interested in pitching or volunteering with 1MC. All are welcome!
Jan 22 at 2:00pm
SBA Reopened PPP to All Lenders on Jan 19
The Small Business Administration (SBA) re-opened the Paycheck Protection Program (PPP) loan portal to small PPP-eligible lenders for First and Second Draw applications on Friday, January 15. The portal fully opened on Tuesday, January 19 to all participating PPP lenders to submit First and Second Draw loan applications to SBA.

Updated PPP Lender forms, guidance, and resources are available on the SBA website and our COVID-19 Resource Center. If you have questions contact us - we are here to help!
Perplexed by the Paycheck Protection Program (PPP)?
This video is a step-by-step walkthrough of the PPP application for both the first and second draw opportunities. Once you register, the link will take you to the COVID-19 Information Channel where you will find this video. Topics included being:

  • A brief overview of the changes to the PPP
  • Eligibility requirements
  • The difference between the 1st and 2nd draws
  • A walkthrough of each application
  • Helpful hints and term definitions
  • An overview on calculating payroll costs and determining gross receipts
National Communications
ASCENT: SBA Launches New, Free Online Digital Learning Platform
Visit Ascent.SBA.gov and register for your free access today
"The Ascent digital learning platform is a practical, user-friendly tool and a one-stop-shop for female entrepreneurs to gain knowledge on how to elevate their business goals, overcome burdensome challenges and grow their existing business,” said Allen Gutierrez, Associate Administrator, Office of Entrepreneurial Development. 

"The launch of this useful and timely platform will provide women-owned small businesses the resources they need to start, grow, and expand their business. We hope that you enjoy your journey with Ascent.”
What's the Difference Between a First & Second Draw PPP Loan?
In general, a First Draw PPP loan is for eligible borrowers who did not receive a PPP loan before the program closed in August 2020. A Second Draw PPP loan is for certain eligible borrowers that previously received a PPP loan, generally have 300 employees or less, and have suffered a 25% reduction in gross receipts. Learn more about eligibility here!
PPP Second Draw Borrower Application Form
Updated applications have been released for Second Draw PPP loans. PPP applications must go through participating PPP lenders, who then route them to the SBA for approval. Review the PPP Second Draw Borrower Application Form here.
COVID-19 Economic Injury Disaster Loans (EIDL)
SBA is currently accepting new Economic Injury Disaster Loan (EIDL) applications from all qualified small businesses, including agricultural businesses, and private nonprofit organizations. If you have already applied via the streamlined application portal, you do not need to reapply.
EIDL Grant and Eligibility
In regard to determining if a business is located in a low-income area (to qualify for the EIDL grant), entrepreneur Max Maher explains how to determine qualification.
Shuttered Venue Operators Grant (SVOG)
Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Check our website for a complete list of Alaska SBDC workshops statewide!
Don't forget to ask your Alaska SBDC Business Advisor about client discounts on select workshops
The Alaska SBDC is funded in part through a Cooperative Agreement with the U.S. Small Business Administration (SBA) and administered by the Business Enterprise Institute (BEI) through the University of Alaska Anchorage (UAA). All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. All SBA funded programs are extended to the public on a nondiscriminatory basis.