The goal of this program is to provide long-term private sector employment by financing business start-up and expansion for companies that are a small business as defined by the Small Business Administration. Applicants are required to match loan funds with cash or other private financing.
SBEDP loans must result in the creation of new jobs or the retention of existing jobs in eligible areas. The maximum loan amount is $300,000 for a maximum term of 20 years on fixed asset loans and five years for working capital loans; the loan amount may not exceed 90 percent of the collateral value. The interest rate is fixed.
For more information on the Small Business Economic Development Program, please visit this link
State of Alaska, Department of Commerce, Community, and Economic Development,
Loan Programs - Small Business Economic Development (SBED)