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Gov. Dunleavy is preparing $300 million for small business assistance

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Gov. Dunleavy is preparing $300 million for small business assistance

Alaska is seeking more than $1.25 billion from the federal government to help with the consequences of the coronavirus pandemic, and last week Gov. Mike Dunleavy said he wants to channel about 25 per cent of the funding to the state’s small businesses.

But the assistance is unlikely to come early due to federal aid law limitations and the need for the Alaska Legislature to approve the proposal of the governor. The economic condition of the state is deteriorating with federal assistance late to come.

“Acute needs. In Alaska in particular, the broad three sectors supporting private-sector jobs. Agriculture, oil and gas, and commercial fishing. They are all overwhelmingly threatened by the COVID-19 crisis”. Thor Stacey also said, chapter director of Alaska for the National Federation of Independent Businesses.

Talking on Tuesday, the governor said it would share $300 million with the Alaska Economic Growth and Export Board. The Alaska Housing Finance Company and numerous loan services run by the Alaska Department of Trade.

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