Even though masks are coming off, the impact of the pandemic is still being felt by some businesses. That is why the Alaska Department of Commerce, Community and Economic Development is still distributing money from the American Rescue Plan Act to businesses in the state, according to the Department of Commerce.
People who missed out on grant money during the first round of applications may still get relief: The deadline for applications for the second round of grant giving has been extended to 5 p.m. on April 30. The DCCED has $34 million left to give to businesses.
This money is reserved for companies that lost 30% or more of their Gross Annual Revenue between 2019 and 2020. Grant recipients may get up to 80% of their documented gross revenue loss.
Grant money can go toward business operating expenses, unemployment insurance, payroll costs, debt services, utility payments and payment on business mortgage obligations, among other uses.
Businesses may be eligible if they are based in Alaska, over half of their revenue is generated from activities in Alaska, were operating before 2020 and reported a gross annual revenue of between $10,000 and $50 million.
Companies that have received money through the first round of grants are not eligible to receive more relief money. There are other disqualifying factors: businesses with expired business licenses, businesses that have permanently closed or intend to close before the end of the calendar year 2023, publicly traded companies and businesses undergoing bankruptcy proceedings are all ineligible. Companies that sell marijuana are also not eligible for grants, because the funding is coming from the federal government.
More specific on eligibility and how to apply can be found on the Department of Commerce’s website, www.Commerce.Alaska.gov.
Applications should be submitted through the AK-ARPA Business Relief Grant Portal, which can be found on the Department of Commerce’s website.
Anyone in need of assistance can contact the Juneau Economic Development Council’s AK-ARPA hotline at (907) 917-3720 or email ARPAGrant@jedc.org.
This is not the only relief program that the Department of Commerce is facilitating. The U.S. Department of Agriculture gave Alaska $30.6 million to distribute in the form of COVID relief grants to impacted seafood processors. The DCCED will be accepting applications for that program until 5 p.m. on May 5. More information can be found on the Department of Commerce’s website.