State Small Business Credit Initiative (SSBCI) Tribal Consortium (Alaska)

State Small Business Credit Initiative (SSBCI) Tribal Consortium (Alaska) is sponsored by U.S. Department of the Treasury (administered by Alaska SBDC). This program helps small businesses, particularly those that have faced challenges in securing financing, access the funding they need to grow, create jobs, and strengthen local economies.

State Small Business Credit Initiative (SSBCI) | Alaska Small Business Development Center State Small Business Credit Initiative (SSBCI) The State Small Business Credit Initiative (SSBCI) is a national program that helps small businesses access the funding they need to grow, create jobs, and strengthen local economies.

Originally launched in 2010 and expanded through the American Rescue Plan Act in 2021, SSBCI provides $10 billion to states, territories, and Tribal governments. The Alaska SBDC, part of the University of Alaska Anchorage, leads the State Small Business Credit Initiative (SSBCI) program and the Alaska SSBCI Tribal Consortium and is the only organization in the country to do so.

Through these programs, the SSBCI programs help distribute funding to banks, credit unions, and investment funds. These financial institutions then provide loans and investments to eligible small businesses across the state.

Over the next decade, this initiative will help generate more than half a billion dollars in business funding, making Alaska one of the top SSBCI programs in the country and driving hundreds of millions of dollars in private investment into Alaska’s small business community.

The SSBCI programs provide funding for: Credit and investment programs for existing small businesses and start-ups Technical assistance to small businesses applying for SSBCI funding and other government small business programs Note: While the SSBCI Tribal Consortium supports Tribal-owned businesses, eligibility extends beyond Tribal members. Lenders can request up to 80% loan guarantees for consortium-affiliated borrowers.

Enjoy SSBCI’s 2025 Year in Review! The State Small Business Credit Initiative (SSBCI) is a program funded by the U.S. Department of the Treasury to boost lending and investment in Alaska’s small businesses, especially those that have faced challenges in securing financing. Alaska is allocated approximately $59 million throughout this 10-year program.

The $59 million will be deployed through the following programs: Loan Guarantee Program: $54M Loan Participation Program: $0. 9M Venture Capital/Equity Program: $5M State SSBCI Program Flyer Coming Soon Alaska SBDC has launched the nation’s largest Tribal consortium under the State Small Business Credit Initiative (SSBCI), building on the success of the $59 million State SSBCI program.

Partnering with 125 Alaska Tribes, it will deploy $83M to spur investment, job creation, and economic growth. The $83. 1 million will be distributed through the following programs: Loan Guarantee Program: $49.

9M Loan Participation Program: $10. 3M Venture Capital Program: $22. 9M Tribal SSBCI Consortium Flyer Coming Soon Venture Capital / Equity Funds Loan Participation Program Alaska State SSBCI Impact SEDI : Socially and Economically Disadvantaged Individual-owned businesses are enterprises controlled by individuals who have faced reduced access to credit compared to others in similar economic circumstances.

VSB : Very Small Business that operates with fewer than ten people. Alaska SSBCI Tribal Consortium Impact SEDI : Socially and Economically Disadvantaged Individual-owned businesses are enterprises controlled by individuals who have faced reduced access to credit compared to others in similar economic circumstances. VSB : Very Small Business that operates with fewer than ten people.

Numbers as of June 2026. Program implementation was on August 1, 2024; the first closing September 4, 2024. We continue to build our list of participating lenders.

We update this list as new lenders join the program. View the current SSBCI State & Tribal Participating Lenders (PDF, updated May 2026) How Lenders Can Participate Lenders seeking to participate in an SSBCI program should contact the Alaska SSBCI team directly via the: Alaska SSBCI staff will connect with all lenders directly to discuss next steps.

How Businesses Can Participate Interested businesses and borrowers should contact a participating lender to inquire about financing options. Please review the SSBCI State & Tribal Participating Lender List for contact information. Funding amounts for these programs may change over time based on usage and feedback from businesses and private sector lenders/investors.

The basic requirements for borrowers in these programs are: Business must have fewer than 750 employees Business must be operating in the State of Alaska Loans/Investment Rounds must be $20 million or less Not registered sex offenders Program funds can not be used for the following: Cannabis-related businesses Passive real estate investments Purchasing an owner’s share in the business or reimbursement of owner contributions Paying off existing loans (some limited exceptions) SSBCI funds cannot be used in connection with other federal funding programs (SBA, USDA, EDA, BIA, etc) Thank you for your guidance and expertise.

Your leadership is instrumental in helping businesses thrive and strengthening Alaska’s economy.

State SSBCI Program Advisory Board Katherine Jernstrom : Co-Founder & CEO of The Boardroom, LLC; Managing Partner, Alyeska Venture Management Adam Kane : Communications Manager, Alaska Municipal League Nathan Rivas : Financial Advisor, Edward Jones Investments Carrie Callaway Cardy : Vice President, Senior SBA Relationship Manager, KeyBank SSBCI Tribal Consortium Advisory Board Benjamin Mallot , President, Alaska Federation of Natives Evelyn Beeter, Ahtna/Copper River Region, President/CEO, Mt Sanford Tribal Consortium Arlene A Gunderson , Aluetians/Pribilof Region, Tribal Administrator Eunice Brower , Arctic Slope Region Barbara Nickels , Bering Straits Region, Economic Development Specialist & Grant Writer, Kawerak, Inc Cheri Mulcahey, Cook Inlet Region, CIRI Board Member and Porch Group Head of Internal Audit Taniesha Moses , Interior Region, Tribal Administrator, Northway Village Council Maya Carle , Southeast Region, AFN Community Navigator for Southeast Deborah Vo , Yukon-Kuskokwim Region Jake Garner , Kodiak Region, President of Ouzinkie Native Corporation Keith Jensen , Bristol Bay Region The program has a capital allocation to businesses owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses), along with incentive funds for states and tribal entities that demonstrate robust support for SEDI-owned businesses.

Catalyze Private Investment Over the ten year life of the program, the SSBCI is designed to leverage $10 of private sector funding for every $1 of SSBCI capital program funding deployed, magnifying the effects of the federal funds allocated through the program.

Fuel Economic Growth and Good Jobs SSBCI will build on the Administration’s work to support small businesses while combating long standing structural inequities in access to credit and unequal opportunities for growth revealed and exacerbated by the pandemic.

Notice of Nondiscrimination Notice of Nondiscrimination The University of Alaska does not discriminate on the basis of race, religion, color, national origin, citizenship, age, sex, physical or mental disability, status as a protected veteran, marital status, changes in marital status, pregnancy, childbirth or related medical conditions, parenthood, sexual orientation, gender identity, political affiliation or belief, genetic information, or other legally protected status.

To file a complaint of discrimination with the Department of the Treasury, write to: U.S. Department of the Treasury Director Office of Civil Rights & Equal Employment Opportunity N. W. , Washington, DC 20220 Contact information, applicable laws, and complaint procedures are included in UA’s statement of nondiscrimination available in the downloadable Notice of Nondiscrimination Flyer and www.

alaska. edu/nondiscrimination. Download the Notice of Nondiscrimination Alaska SSBCI Tribal Executive Council Advisory Board Meeting 5 Alaska SSBCI Tribal Executive Council Advisory Board Meeting 4 Alaska SSBCI Programs Achieve Historic Impact in 2025 Alaska SSBCI Tribal Executive Council Advisory Board Meeting 3 UAA’s Alaska SBDC Tops Nation in SSBCI Fund Deployment, Investing Millions in Local Businesses