COVID-19 Economic Recovery Resource Portal for Business Alaska and the Nation are pulling together to face this health and economic challenge. On this page, you will find updates and links to resources to help weather these hard economic times and prepare for the recovery thereafter. Updates will be made as additional information and resources become available. Latest News Coronavirus Nonprofit Relief Fund The State of Alaska has set aside $35 million from the Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to specifically support nonprofits in Alaska adversely affected by the Coronavirus Disease 2019 (COVID-19) pandemic. The State of Alaska Department of Health and Social Services (DHSS) has partnered with The Alaska Community Foundation to establish the Coronavirus Nonprofit Relief Fund (CNRF) with the set-aside funding. Eligible organizations are encouraged to apply to ACF for grants from CNRF. AK CARES Grants to Small Businesses: Expanded and Improved Starting August 6, 2020, the AK CARES Grant program will be expanded to include Alaska’s commercial fishermen, 501(c)6 nonprofit organizations, and small businesses that received $5,000 or less in PPP or EIDL funds. In response to concerns regarding processing timelines, DCCED and AIDEA have made substantial changes to the AK CARES processing procedures, created an online portal for applications, and continue efforts to bring on additional program operators. The online application portal will go live on August 6, 2020, as well, at which point applications will no longer be accepted through Credit Union 1’s website. To review the press release issued by DCCED on July 31, click here. To review the updated FAQs that go along with these changes, visit the AK CARES Grant: FAQs and Checklist webpage visit the AK CARES Grant: FAQs and Checklist webpage. Paycheck Protection Program SBA provides guidance on how small businesses can apply for the Paycheck Protection Program Alaska Approved Lenders AIDEA Creates Billion Dollar Loan Guaranty Program (Anchorage) – The Alaska Industrial Development and Export Authority (AIDEA) Board on Friday unanimously approved a resolution that creates in AIDEA the Sustaining Alaska’s Future Economy Guaranty Program (AK SAFE). This program will confront the economic crisis resulting from the COVID-19 pandemic, which threatens Alaska businesses and the people who work in these businesses. Read full press release here SBA Guide to CARES Act The Small Business Administration has prepared a Guide for Small Business Owners to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The guide provides information on SBA programs including the Paycheck Protection Program, the Small Business Debt Relief Program, Economic Injury Disaster Loans, and Emergency Economic Injury Grants. To read the final enabling language click here SBA Implements Automatic Deferment on Existing SBA Disaster Loans through the End of 2020 Borrowers of home and business disaster loans do not have to contact SBA to request deferment. Deferments through December 31, 2020 will be automatic for existing Disaster Loans. For more information visit the SBA website. Resources for Business In addition to the working capital loans now available through the Department of Commerce, Community, & Economic Development, a myriad of State and Federal resources are available to support commerce as Alaskans continue to do what needs to be done to contain the spread of COVID-19 and begin the process of recovery. A directory of business-focused organizations able to assist in this recovery effort is available on the Business Response Directory. Below are links to listings of available State and Federal resources for businesses navigating their way through the COVID-19 landscape. Updates will be provided to these listings as access to new resources are made accessible. If you have any recommendations on resources not already listed, please contact the Alaska Development Team at AlaskaDevelopment@alaska.gov. Emergency & General Assistance Grants Emergency & Business Assistance Loans Tax Incentives Benefits For information on the steps being taken by the State to combat the spread of COVID-19, please visit the COVID-19 Update page available through the Department of Health & Social Services as well as the Governor’s Reopen Alaska Responsibly Plan and the State’s COVID-19 Traveler Information page. If you would like to see the status the COVID-19 pandemic in Alaska or beyond, please refer to the sites listed under the COVID-19 Updates tab. Please visit the following site for a listing of all State Health Mandates. Please email AlaskaDevelopment@alaska.gov if you have a recommendation on links to relevant state and/or federal business recovery program information.