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This program is expected to begin accepting applications on May 26.
Please start gathering information supporting your 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.

    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
  •        ♦   Have been in operation for at least one year prior to 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 received funding or have an approved application for SBA’s PPP
           or has EIDL funding in excess of $5,000
  •      ♦   Businesses with more than 50 full time equivalent employees
  •      ♦   Businesses that have filed bankruptcy
  •      ♦   Businesses that do not meet the eligibility criteria outlined above

                                                              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/lender)   ♦
  •                                                                                                                                             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.

 

DCCED and AIDEA have partnered with Credit Union 1 to provide
emergency relief for Alaskan small businesses.

      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

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     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

 

Project Description

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