The Small Business Assistance program is designed to help promote and enhance small business development by supporting small businesses owned by Chugach Alaska Corporation shareholders and descendants.
- The funds awarded are to be used for the startup or expansion of a shareholder or descendant small business.
- SBAP funds are to supplement or match and not replace alternative funding resources.
- SBAP funds may not be used for refinancing or an existing small business loan.
- No more than $5,000 will be awarded to any one shareholder or descendant owned business.
- SBAP awards are taxable and SBAP funds must be expended within one year of the SBAP award.