Idaho, approved for up to $65.6 million, will operate two programs: a collateral support program (CSP) and a loan participation program. ![]() The impact of Alaska’s programs is expected to be greatest in rural and remote communities that have struggled to attract capital in commercial fishing and mariculture, manufacturing, and tourism sectors with high upfront capital costs. Finally, Alaska allocated $2 million to its collateral fund program that enables lenders to lend to higher-risk industries and businesses using the SSBCI funds as collateral to offset their exposure. Alaska allocated $10 million to its equity/venture capital (VC) program which will make investments in venture capital funds targeting high-growth maritime businesses related to the commercial fishing and mariculture industries, construction or logistics businesses, and scalable tourism-related companies. In addition to the LGP, Alaska will run a loan participation program (LPP) to which it allocated $15.9 million and that is focused on lowering interest rates and extending loan terms to keep monthly payments low and allow businesses to join in the economic recovery. The LGP helps ensure capital goes to those small businesses facing lower than usual revenues, making it difficult for those businesses to meet lenders’ minimum criteria for risk assessments. Alaska will operate four programs, including one loan guarantee program (LGP) to which they have allocated $32 million.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |