Alaska Growth Capital is a certified CDFI that provides commercial financing and other services to businesses that lack access to traditional capital sources like bank loans or venture capital. Many of our customers are minority-owned businesses, located in economically disadvantaged areas, and/or located in very rural locations. Our loan decisions are driven both by hard economics and our mission of community development.
- Alaska Growth Capital maintains three main lines of business in two main geographic locations.
ALAS's main lines of business include: Commercial loans and equity investments, Management of New
Markets Tax Credit funds, and Consulting and Technical Assistance.
- ALAS currently operates
in the states of Alaska and Montana.
- Alaska Growth Capital's clients can be profiled as follows, based on dollars invested since the
company's inception: 39% invested in minority-owned businesses, 55% invested in rural businesses
(off of the nation's road system), 24% invested in businesses located in "distressed" communities
(defined by the Denali Commission, a major funding partner), 17% invested in businesses located in
"low income" communities (defined by the CDFI Fund, a major funding partner), 12% invested in
- Since inception, Alaska Growth Capital has been able to deploy over $150 million to its client
population. More than $100 million of this amount was effectively "new money" brought into Alaska
and Montana by investment from major banks and Wall Street investors. This money has outsized
impacts on economic development because of its unique source.
Alaska Growth Capital received $2 million dollars of New Market Tax Credits in 2003. With those tax credits, Alaska Growth helped Tyonek Native corp., an Indian owned business in a village of 150, expand the company. Bart K. Garber, chief executive of Tyonek, had been turned down by two banks until Alaska Growth stepped in and used $390,000 in tax credits to convince Wells Fargo to loan $1million dollars to Tyonek. The capital was used to pay for new equipment and the payroll for Tyonek has increased from 3 to 12 since the loan was issued. Full Story