SBA earmarks $284 billion to help Alaska’s small businesses
by carlos matías
The U.S. Small Business Administration (SBA) will allocate $284 billion to help Alaska’s small businesses and entrepreneurs during 2021, the government agency’s leadership has told Sol de Medianoche. Of this amount, from Jan. 11 through Jan. 31, the first 20 days of the launch of the Paycheck Protection Program (PPP), the SBA has approved 2,217 PPP loans worth $228 million statewide.
Created in 1953, the U.S. Small Business Administration (SBA) continues to help small business owners and entrepreneurs pursue the American dream.
The SBA is the only cabinet-level federal agency devoted entirely to small businesses and offers advice, capital and contracting expertise as the nation’s single resource and voice for small businesses. This includes training and advice on calculating the start-up costs of a small business, the Business Plan, market research, and a wide range of issues to consider when starting a business.
Encouraging entrepreneurship Sol de Medianoche sent the SBA (Small Business Administration) management ten questions about its activities, the companies that have benefited from its training and advice, the future of Anchorage’s economy, the entrepreneurial spirit of Anchorage residents, the local economy and businesses, and whether it believes there is a good corporate culture and team spirit among its entrepreneurs and small business owners, merchants and businesses.
The goal of this newspaper is to encourage Hispanics, Inuit and people of other minorities to become entrepreneurs, especially in the city of Anchorage.
In response to our inquiries, the Alaska District Office of the SBA has provided us with this official response, previously reviewed and approved by the Administration in Washington DC.
Loans to help businesses “As part of ongoing transparency of economic aid programs, the U.S. Small Business Administration (SBA) released data summarizing Paycheck Protection Program (PPP) loan approvals made through Jan. 31, 2021”, the release said.
“The SBA re-opened the PPP Jan. 11 with $284 billion appropriated through the Economic Aid Act. So far in the first 20 days, 2,217 PPP loans valued at $228 million have been approved by the SBA in Alaska. Approximately 4,500 lenders nationwide are participating in the PPP this time around”.
“The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed. The Economic Injury Disaster Loan (EIDL) this loan provides economic relief to small businesses and non-profit organizations that are currently experiencing a temporary loss of revenue. Further information can be found at Coronavirus Relief Options (sba.gov)”.
The SBA´s commitment to assist our diverse business community has added translations of PPP Borrower Application form in 15 languages.
Small businesses are very important “Overall, the health and success of our small businesses is particularly important as small businesses are powerful job creators throughout the nation. The SBA Alaska District Office and its staff stand ready to support small businesses impacted by the pandemic with educational resources and financial relief”, the official SBA release adds.
This note ends by saying that, for anyone thinking about starting a business in 2021 in Alaska, “the SBA has your back. We have resource partners such as the Small Business Development Center to provide no-cost business consultation to help with resources at every stage of your business”.
For more information Alaska District Office | The U.S. Small Business Administration | SBA.gov
Director Steve Brown will oversee the grants The SBA Alaska District Director is Steve Brown, who will oversee the delivery of all SBA programs and services in Alaska, including technical training and assistance, funding programs, and small business certifications connected to government contracting.
The Alaska District SBA also encourages small business owners to call the office to talk to staff about their specific needs. Callers can ask to be reconnected to either one of the office’s two bilingual staff members or, for languages other than Spanish, one of many on-hand translators.