Join the Support Local November Experience and unlock adventures through the end of November with incredible local businesses!

To participate, download the GooseChase app from the App Store or Google Play, sign up, and enter code WASILLA24 to start earning rewards while you explore and support our local gems. Earn 50 points by uploading a screenshot of this page the the Goosechase app! 

From July 2020 to May 2023, AIDEA funded five participation loans for separate projects undertaken by the Sun Mountain Development Group, LLC, to provide long-term financing for the development construction provided by Northrim Bank. AIDEA’s total participation in these five projects totaled $11,147,000.00 and Northrim Bank’s total participation was $1,239,000.00. Additionally, these funds supported over 550 construction jobs and 239 permanent jobs for Alaskans!

These loans allowed national chains Planet Fitness, Krispy Kreme, and Sonic to establish locations in the Mat-Su Valley. Nuvision Federal Credit Union, local telecom company Matanuska Telephone Association (MTA), and other small businesses established new storefronts in two of the buildings.

“Sun Mountain Development Group’s continued investments in construction and development will drive expansion and access to goods and services in Alaska,” said Alan Weitzner, Executive Director of AIDEA at the time. “Projects like this are a perfect example of building a legacy for future generations of Alaskans through job development, access to basic services and retail chains, while also driving sustainable economic growth in Alaska.”

AIDEA’s Loan Participation Program provides permanent financing, both taxable and tax-exempt, to borrowers through a qualified originator to develop, acquire, or enhance Alaska business enterprises or for a qualified energy development project. The Loan Participation Program provides the benefit of long-term fixed or variable-rate financing on the portion of the loan purchased by AIDEA. AIDEA does not originate loans but can purchase up to 90% of a commercial loan to a maximum of $25 million that is sponsored and originated by an eligible financial institution.