Skip to content
Back to Top

Offices Closed to Public

The Department of Commerce, Community, and Economic Development offices are closed to the public at this time. We are still open for business and encourage you to contact us via phone or email.

AK CARES Grant Program

In response to Governor Mike Dunleavy's Public Health Disaster Emergency Declaration on March 11, 2020, the Alaska Department of Commerce, Community, and Economic Development (DCCED) and the Alaska Industrial Development and Export Authority (AIDEA) have partnered with Credit Union 1 to provide relief to small Alaskan businesses impacted by the COVID-19 pandemic, through the AK CARES Grant Program. Credit Union 1 is the program facilitator for AK CARES.

To expedite the application process, small businesses should review this checklist carefully, as it lists what is needed for a successful application submission. Incomplete application packages will not preserve an applicant’s priority in the processing queue. Failure to comply with the checklist will result in the application being returned for completion and the applicant having to restart the process with the submittal of a new application package.

The AK CARES Program will be operated on an equal access/non-preferential (i.e. first-come, first-served basis). The application period for the AK CARES Grant Program opened on June 1, 2020. The application is available on Credit Union 1’s website.

On June 17, 2020, Commissioner Anderson announced upcoming changes to the AK CARES Grant Program’s eligibility criteria during a House Finance Committee hearing: businesses that received $5,000 or less in PPP or EIDL funding and 501(c)(6) organizations will become eligible. The effective date of these changes will be announced and posted on this website in the coming days. The AK CARES Grant website and FAQs will be updated to reflect those changes once the updated program details have been finalized.

Who Can Apply

Small businesses based, licensed, and located in Alaska with an Employer Identification Number (EIN) – including C-corps, S-corps, Partnerships, LLCs, Nonprofits (501(c)3 and 501(c)19 organizations) and sole proprietorships – meeting the following criteria:

  • Business was licensed and established when the public health disaster emergency declaration was issued by Governor Dunleavy on March 11, 2020;
  • Business has, on average, 50 or fewer full-time equivalent employees; and
  • Business was excluded, did not qualify, or was otherwise unable to obtain funding from U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP), the SBA Economic Injury Disaster Loans (EIDL), or other federal funding programs under the CARES Act.

Credit Union 1 members and non-members are welcome to apply.

The changes to the eligibility criteria (outlined above are forthcoming. This website and the FAQs will reflect those changes and their effective date once the update program details have been finalized.

Who Is NOT Eligible to Apply

  • Marijuana related businesses
  • Businesses that are a secondary income source or part time endeavor
  • Out of State businesses
  • Business that have secured funding from the SBA’s PPP, EIDL, or other federal funding programs under the CARES Act.
  • Business with more than 50 full-time equivalent employees (on average).
  • Businesses that has filed for bankruptcy
  • Businesses who do not otherwise meet the eligibility criteria.

The changes to the eligibility criteria (outlined above) are forthcoming. This website and the FAQs will reflect those changes and their effective date once the update program details have been finalized.

Grant Amount

$5,000 to $100,000 based on eligible expenses.

Eligible Expenses

Amount of grant award based on the following COVID-19 emergency-related eligible expenses incurred by the applicant business between March 11, 2020 through the application date, and eight (8) weeks following the 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.

Businesses interested in applying for an AK CARES grant should review the provided checklist and gather the necessary information to support the business' eligible expenses.

Businesses should also ensure all relevant licenses are active and in good standing:

Instructional Videos from Credit Union 1

The AK CARES Grant Application Checklist

The AK CARES Application Tutorial

The AK CARES Schedule of Expenses Explanation

Uploading the AK CARES Application Package

Technical Assistance

Credit Union 1

Phone: (907) 339-8597
Email:
akcares@cu1.org

Division of Economic Development – Investments

Toll Free in Alaska except Juneau: (800) 478-5626
Outside Alaska and within Juneau: (907) 465-2510
Email: financing@alaska.gov

Alaska Regional Development Organizations (ARDORS)

ARDORS: https://www.commerce.alaska.gov/web/dcra/ARDORs.aspx

Small Business Development Centers (SBDCs)

Contact information for SBDC Offices around the state: https://aksbdc.org/contact/

AK CARES: FAQs and Application Checklist