Alaska Business

Covers COVID-19

Update:The CDC is recommending that everyone wear cloth face coverings when in public.
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We’re in the midst of an uncertain social and economic environment. COVID-19 has sparked worldwide health concerns, and attempts to prevent the spread of the virus are creating challenges for small and large businesses alike.

Alaska Business believes in our mission to be a resource for Alaska businesses, and as a member of the media, we do receive ongoing updates about the virus and how Alaska’s businesses are responding to it. We have compiled below Economic Resources; Mandates, Advisories, and Plans; Webinars and Expert Advice; and Cancelled/Changed Events.

Whatever your job requires of you in the oncoming weeks, please always be conscientious and prioritize your safety and the safety of others.

Economic Resources

Paycheck Protection Program

The Paycheck Protection Program is an SBA loan that help businesses keep their workforce employed during the COVID-19 crisis. The SBA has published an FAQ, found here.

Economic Injury Disaster Loan

The COVID-19 Economic Injury Disaster Loan is available through the SBA; here is the loan application.

Tax Questions?

The IRS has extended “Tax Day” to July 15; here is the IRS Filing and Payment FAQ. The IRS has also launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll.

CARES Act

President Trump has signed the Corornavirus Aid, Relief, and Economic Security (CARES) Act; The US Senate Committee on Small Business & Entrepreneurship has published this Guide to the CARES Act.

Unemployed?

For those who have been laid off due to COVID-19, the Department of Labor and Workforce Development is accepting applications for Unemployment Insurance benefits online.

Mandates, Advisories, and Plans

Webinars and Expert Advice

Event Updates

  • AOGA’s annual conference has been rescheduled for July 30 (previously May 29).
  • Alaska Executive Strategy Symposium has been rescheduled for June 16-18 (previously April 16-18)
  • Homer Winter King Tournament is postponed to April 25
  • The Alaska Railroad has suspended the Aurora Winter Train for the remainder of the winter season; it is delaying the start of its summer trains until early July. Visit the Alaska Railroad’s website for schedule details.
  • Permits for climbing Denali and Mount Foraker have been suspended for the 2020 season

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AIDEA Creates Billion Dollar Loan Guaranty Program

AIDEA Creates Billion Dollar Loan Guaranty Program

Sustaining Alaska’s Future Economy Guaranty Program (AK SAFE) was recently approved by the Alaska Industrial Development and Export Authority (AIDEA), to confront the economic impacts resulting from the COVID-19 pandemic. AIDEA will make up to $50 million available for loan guarantees under AK SAFE, and subject to authorization for a statutory change, AIDEA will increase the program cap to $1 billion.

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Update: Trump Signs $2 Trillion CARES Act

Update: Trump Signs $2 Trillion CARES Act

UPDATE: Following it’s passage by the US House of Representatives, President Trump has signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a bill to provide major relief to families, small businesses and their employees, as well as to stabilize our economy and protect jobs. The bill also provides a surge of support for bolstering the healthcare response during this COVID-19 pandemic.

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