New Federal Loans Now Available For Alaska Small Businesses
Alaska Governor Mike Dunleavy announced new steps taken to advance the Alaska COVID-19 Economic Stabilization Plan. The Governor amended COVID-19 Disaster Order to include additional suspensions of certain state government fees and fines, and highlighted the availability of the Payment Protection Program, a U.S. Small Business Administration (SBA) loan that will help businesses maintain their workforce during the coronavirus disease 2019 (COVID-19) pandemic.
COVID-19 Disaster Order of Suspension No. 2, amended on April 1, 2020, suspends certain fees and fines within the Department of Health and Social Services, Department of Administration, Department of Commerce, Department of Labor, Department of Revenue, Department of Environmental Conservation, Department of Natural Resources, Department of Transportation, and the Department of Fish and Game through May 11, 2020 unless otherwise noted.
The SBA today began accepting applications for the Paycheck Protection Program. Small businesses can apply through Alaska lenders for the Paycheck Protection Program, provided by the Federal CARES Act. The loan is designed as an incentive for businesses to keep employees employed throughout the COVID-19 economic slowdown. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. Additional information can be found here.
The Governor’s COVID-19 Health Mandates can be found here.
For the latest information on Alaska’s response to COVID-19, please visithttp://coronavirus.alaska.gov.
For the latest information on what Congress is doing to help Alaska small businesses in Washington D.C., clic here.