CBJ loan program assists small businesses during pandemic

    Juneau, Alaska (KINY) - A COVID-19 loan program will assist 140 small businesses in Juneau, which supports nearly 800 jobs.

    At the beginning of April, the City and Borough of Juneau Assembly passed an emergency $3 million appropriation to provide relief to small businesses in Juneau that have been adversely impacted by the COVID-19 pandemic.

    Since then, the program has approved loans to 140 businesses, which support 436 part-time and 358 full-time positions. All but a few of the loans have been fulfilled. The 140 loans equal about $2.5 million.

    The program is administered by the Juneau Economic Development Council, which is still actively processing loan applications. Applications are considered on a first-come, first-serve basis.

    The goal of the program is to provide small businesses in Juneau with working capital to bridge the time before federal or state funding are available.

    A business with 10 or fewer employees is eligible for a maximum loan amount of $25,000. A business with 11-25 employees is eligible for a maximum loan amount of $50,000.

     

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