February is already here and there is a lot to talk about, so I'll get right to it! On the Federal relief front, the SBA and private-sector financial institutions have processed over 891,000 PPP loans nationwide worth over $72.7 billion. Out of that, 2,217 Alaskan businesses and nonprofits have received PPP loans totaling $228 million since the program launched. While there is still over $200 billion left in the program, the money appears to be going fast so get your application in soon!

February is Black History Month, and there are several amazing events out there for you and your families to take advantage of to learn more about the important role Black Americans played in our history. There's a great story about Captain Healy, the first Black captain of a government ship below penned by our Northern and Rural Business Advisor, Jade Greene. If you're looking for ways to support Black-owned businesses, check out the Alaska Black Business Directory linked below as well!

I'm also pleased to announce that the Alaska SBDC's Annual Report containing the results of our 4th Annual Small Business Survey and 2020 CARES Act funding analysis has been released. This is a fantastic overview of business activity, trends, and highlights from across the state that I think you will find very interesting. One of the items that caught my attention was the fact that 50% of businesses surveyed weren't selling online, but many of them wanted to be. The breakdown of CARES funding by region was also interesting for those wondering where the money went.

As the pandemic drags on and cabin fever reaches its late winter peak, it's important to focus on the good news. The COVID-19 vaccines are rolling out in Alaska faster than almost anywhere else in the US. Statewide numbers are dropping and hospitalizations are down almost everywhere. The second round of federal funding is being deployed quickly and there looks to be another relief bill on the way that will help individuals and local governments as well as businesses. It may be only February, but Spring is coming and with it, better times.

Happy Black History Month and remember to shop local this Valentine's Day!

Jon Bittner

Alaska SBDC Executive Director

As part of our commitment to collecting important data to help policymakers better understand Alaska’s small businesses, the Alaska SBDC is proud to share the results of our 4th annual Small Business Survey as well as our analysis of federal CARES Act funding deployed to Alaska businesses in this year’s annual report.

Captain Healy’s contributions to the economic growth of Alaska are still being leveraged to this day. Captain Healy remains an American hero and the naming of the city of Healy, Alaska is an enduring tribute to this remarkable African American humanitarian and business icon.

Captain Healy’s achievements are even more remarkable considering he was born a slave in Georgia and ran away to sea at age fifteen. His tragic beginnings as a mixed-race slave; the son of a slave and White Irish immigrant plantation owner, further fueled his ambitions. Indeed, by 1883, Healy had achieved the rank of Captain and in 1886 became the commander of the Revenue Cutter Bear acting as judge, doctor, and policeman to Alaska Natives and Whites of Alaska. The Bear was described as a floating government with Captain Healy saving many lives in northern and western maritime Alaska. 

Have you seen the website redesign for the Alaska Black Business Directory? Designed by Diamond Chisholm of Kingz Enterprizes, it serves to connect Alaskans with companies that support Alaska’s economy, entrepreneurship, and the minority community.

Be sure to check back as the website expands, and check out the events in celebration of Black History Month! 

Access our On-Demand Workshops for your business needs today.

The Municipality of Anchorage is accepting applications for the Tourism Grant Program. Businesses may apply by Wednesday, February 17 online. Eligibility and details about the Tourism Grant Program may be found here.

For this month’s initial class on Thursday, February 18th at 12:30 pm, guest speaker Katelynn Senn of Rulien + Associates, LLC will talk about taxes for different business structures. Register today!

Entrepreneurs are among Alaska's next generation of legacy builders. They are innovative, passionate, ambitious, and visionaries. The Anchorage Chamber of Commerce is collecting nominations for the Alaska Young Entrepreneur of the Year - nominations are due on February 26 at 11:59 pm. Learn more and nominate!

Alaska's Original Idea Contest is collecting submissions for this year's Arctic Innovation Competition. The UAF Arctic Innovation Competition (AIC) is Alaska’s original idea contest and is run by the UAF School of Management. It’s easy to enter for individuals and teams of all ages - there is no entry fee and a prototype or business plan is not required (although recommended). The submission deadline is Friday, March 19. Learn more and enter here!

The SBA is committed to ensuring small businesses receive the support they need to keep their doors open and continue to employ millions of Americans across the country.

If you're considering a Paycheck Protection Program loan, learn more about the information that may be requested from you today!

Did you know that the SBA now offers the PPP Borrower Forms as fillable PDFs and are available in more than 10 languages?

The SBA is currently offering PPP loans via a network of participating PPP lenders to help businesses keep their workforce employed and doors open.

The SBA re-opened the PPP on January 11th with $284 billion appropriated through the Economic Aid Act. So far in this round of funding, 905 PPP loans valued at $113 million have been approved by the SBA in Alaska.

Looking for more information about the Shuttered Venue Operators Grant Program? On January 28, 2021, the SBA added a new FAQ document that includes information about eligibility, application, use of funds, and more. Review the FAQs and program overview.

Did you know that businesses impacted by the pandemic may be eligible for federal tax credits and other relief? Get up-to-date information on COVID-19 tax and filing requirements and benefits. Learn more!