Originally posted Aug. 26, 2020
Do you need a loan for your business but can't get it through a traditional bank? Spruce
Root's loan program is unique – just like your Southeast Alaskan Business! Their business coaches work with you to develop and refine your business plan, budget, and financial structure before you apply for funds to give your business the strongest opportunity for success.
WHO DO THEY FUND?
Anyone in Southeast Alaska can apply for a Spruce Root business loan. Our region’s resiliency and sustainability is woven together with the successes of our small businesses and pioneering entrepreneurs – the very roots of our local economy.
Can your business loan request answer “Yes!” to one or more the questions below?
Will it create or retain jobs, especially year-round, high-wage, or benefited jobs?
Will it expand the manufacturing base of the community/region?
Will it reduce local costs or provide import substitution?
Will it add value to and/or expand the market for the area’s agricultural, maricultural, aquacultural or natural resource products?
Will it eliminate barriers to economic growth in Southeast Alaska?
Is it a new business or line of business that diversifies the local or regional economy?
Does it foster cooperation between communities, governments, and the Alaska Native population?
Does it provide infrastructure development that would assist some or all of the above?
For additional information on who is eligible please visit their FAQ page.
WHAT DO THEY FUND?
Startup Capitol
Leaseholder Improvements
Business Expansion
Working Capitol
WHAT TO EXPECT IF YOU APPLY
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