The Alaska CARES Grant Program, a critical initiative to support Alaskan businesses during the COVID-19 pandemic, has now distributed all available funds and is officially closed. This announcement serves to inform applicants and stakeholders about the conclusion of the AK Cares Program Grant.
Applications for the AK CARES program grant were meticulously processed based on the order of receipt. It is important to note that businesses submitting applications on or after September 2nd were duly notified at the time of application regarding the program’s oversubscription. These applicants were also informed about the significant possibility that funding might not be available due to overwhelming demand. Despite the high volume of applications, the program successfully funded as many eligible businesses as possible within the allocated budget.
While the prospect of future funding for small business relief in Alaska remains uncertain, the potential for reopening the AK CARES Grant program will be carefully evaluated should new state resources become available. However, it is important to acknowledge that there are currently no expectations of additional funding being allocated to the program.
In order to ensure program integrity and accountability, a comprehensive compliance audit of the AK CARES program is currently being undertaken by Yukon Accounting and Consulting, Inc., a contracted entity working on behalf of the Alaska Industrial Development and Export Authority (AIDEA). To verify the legitimacy of any communication pertaining to this audit, recipients are encouraged to contact AIDEA directly at (907) 771-3019 or via email at [email protected]. The Department of Commerce, Community, and Economic Development (DCCED) appreciates the full cooperation of all grant recipients throughout this essential auditing process.
For businesses still seeking financial assistance and exploring alternative funding avenues, we highly recommend visiting the COVID-19 Recovery Resource Portal for Business website. This valuable online resource provides up-to-date information and direct links to a wide array of other support programs available at both the State and Federal levels.
In conclusion, the AK CARES Program grant has successfully fulfilled its objective of disbursing allocated funds to support Alaskan businesses. The program is now closed. Businesses in Alaska requiring ongoing financial support are encouraged to utilize the resources offered through the COVID-19 Recovery Resource Portal for Business .
