AK CARES Grant Program: Information for Anchorage businesses

The AK CARES grant program is providing much-needed funding to Alaska businesses, including businesses and nonprofits that were previously not eligible for federal relief or had difficulty accessing assistance.

 

As Anchorage’s ARDOR, AEDC is working to ensure Anchorage businesses are connected to all of the necessary resources to complete these grant applications. Credit Union 1 is accepting applications through its website on a first come, first served basis. Check back for the latest information.

On June 17, the State of Alaska announced upcoming changes to eligibility criteria for the AK CARES grants. Small Alaska businesses that received $5,000 or less in federal funds and 501(c)(6) nonprofit organizations will become eligible for the State’s grant program if they meet other program guidelines. Updated program details and the effective date will be announced by the State in the “coming days.”

Learn more about:

AK CARES Grant requirements for Anchorage businesses

A successful application package will provide all the information requested on the application checklist.

Frequently asked questions

Please visit the AK CARES Funding Program: Informational Sheet and Checklist for answers to the following FAQs. Please check back frequently as information will be updated regularly.  The Alaska Small Business Development Center has also published FAQ’s for this program, linked below.

  • When can I apply?
  • How can I apply?
  • Will these funds be issued to businesses as loans or grants?
  • What are the minimum and maximum grant amounts?
  • What are the terms?
  • Are there fees associated with the grants?
  • Are there restrictions on how the proceeds are used?
  • What’s included as an eligible expense?
  • How long will the program operate?
  • I’m not a CU1 member. Can I still apply?
  • If I’m not a member of Credit Union 1, will I need to join to apply?
  • I have a personal account with Credit Union 1, but my business account is at another financial institution. Do I have to open a business account?
  • I have a job through an employer, but I own a side business. Am I eligible to apply?
  • I need more than the program cap of $100,000. Can I apply for multiple grants?
  • My business has several subsidiaries that do not have individual business licenses. Are they eligible to apply individually?
  • Are there grant limitations for common ownership?
  • I am a sole-proprietor. Can I apply for this grant?
  • Who can apply?
  • Can nonprofits apply for the AK CARES Grant Program?
  • Who is NOT eligible for AK CARES grant program?
  • How do I calculate the grant amount in the application?
  • What should I expect once my AK CARES Grant application has been submitted?

Bonus FAQs

Below is a list of additional questions that have been asked by real business owners, like you. If you’re not finding what you’re looking for in the FAQs above, check here. If your question still has not been addressed, please text ‘FAQ’ to 907-891-7192 to submit your question.

Technical assistance

AEDC is here for you to make sure all your questions about the AK CARES Grant application process are answered.

AEDC contact

Emma Irish Director of Strategic Initiatives eirish@aedcweb.com

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