Alaska SSBCI programs achieve historic impact in 2025

Alaska made history in 2025. The Alaska State Small Business Credit Initiative (SSBCI) program and the Alaska SSBCI Tribal Consortium delivered record results, earning national recognition for their impact and reach. Administered by the Alaska SBDC at the University of Alaska Anchorage, these programs are helping small businesses across the state access financing that would otherwise be out of reach. From Ketchikan to White Mountain to Dutch Harbor in the Aleutians, the programs are strengthening local economies, supporting jobs and creating new opportunities for Alaskans.

Alaska leads the nation in deploying capital to small businesses

This year, Alaska's State SSBCI program was ranked number one in the nation for the percentage of funds deployed, moving at a pace nearly six years ahead of federal expectations. Out of 131 programs nationwide, Alaska deployed 92.5 percent of its allocated funds, surpassing Montata at 92.3%, and demonstrating both high demand from Alaska's entrepreneurs and a strong statewide network of lenders and advisors. In 2025 alone, the Alaska State SSBCI program delivered 115 loans totaling $101.5 million to 99 businesses across 28 communities.

These investments reached businesses of every size and sector, including 82 owned by socially and economically disadvantaged individuals (SEDI) and 67 very small businesses (VSB). Together, these stories show what's possible when Alaskans have the capital they need to grow.

The Tribal SSBCI Consortium also completed a groundbreaking first full year. Formed through a partnership between 125 Alaska Native tribes and the Alaska Federation of Natives, the Consortium deployed $67.3 million in 61 loans to 57 SEDI-owned businesses, including 35 VSBs, across 22 communities. This represents more than triple the amount deployed during its startup period in 2024. By breaking down longstanding barriers to capital access, the program is empowering entrepreneurs to build businesses that strengthen tribal economies and preserve cultural vitality.

Strengthening communities through real businesses and real impact

The power of these programs comes alive in the stories of real businesses making real differences. A few highlights from 2025 include:

• Porcupine Theater in Homer brought a cherished cultural cornerstone back to life through the Tribal program, restoring not just a building but a gathering place that enriches the entire community.
• Markel's Collision Center in Anchorage expanded its capacity through Tribal SSBCI funding to serve customers throughout the region, creating quality jobs and meeting critical automotive repair needs.
• Hog River Construction from Fairbanks grew through Tribal program support, with Hog River meeting the construction demands that resulted from the devastation to the Alaskan west coast communities from Typhoon Halong in October.
• Integrity Environmental in Eagle River grew through State SSBCI support, scaling from a local firm to a regional environmental leader and meeting increasing demand for compliance and consulting services.
• Borealis Basecamp, LLC in Fairbanks expanded lodging and guest experiences for aurora tourism through Tribal SSBCI, creating local jobs and boosting year-round tourism in the region.
• Turnagain Marine Construction in Anchorage strengthened Alaska's maritime industry through the Tribal program, supporting infrastructure essential for both commerce and community access.
• Friends by the Ocean in Kodiak invested in infrastructure through Tribal SSBCI that supports the island community's unique economy and lifestyle.
• Fishability, LLC in Ketchikan expanded its operations through State SSBCI, creating accessible fishing opportunities for all.
• Fish River Services in White Mountain brought essential services to one of Alaska's most remote communities through State SSBCI support, demonstrating the program's reach into rural Alaska.

These businesses represent the diversity of Alaska's economy, but they share something in common: each one grew because a lender believed in their vision and had the support of SSBCI tools to reduce risk. Key partners including Northrim Bank, First National Bank Alaska, Spruce Root, Business Impact NW, and Mount McKinley Bank played essential roles in ensuring that capital reached the communities that needed it most. Their collaboration with the Alaska SBDC's advisory network created a statewide system of support that continues to deliver measurable, meaningful results.

Building a stronger future for Alaska

By the end of 2025, Alaska's State and Tribal SSBCI programs combined to deliver $168.7 million in investment through 176 loans, supporting 156 businesses across 50 communities. These numbers represent more than funding. They reflect families supported, jobs created, services expanded, and economic resilience strengthened across Alaska. The programs are proving that when resources reach entrepreneurs who have historically faced barriers to capital, the benefits ripple throughout entire communities.

As Alaska looks toward 2026, the Alaska SBDC remains committed to expanding this momentum, deepening partnerships, and ensuring that every qualified business has access to the tools and capital they need to succeed. When we invest in Alaska's small businesses, we invest in the future of our state.

More information about the State SSBCI and Tribal SSBCI Consortium programs is available online.