Alaska Growth Capital A leading force for economic development Wed, 24 Aug 2016 22:04:35 +0000 en-US hourly 1 Launch : Alaska | Investor Wed, 24 Aug 2016 22:04:35 +0000 ]]> Launch AK Logo2

Alaska Growth Capital BIDCO, Inc. is a proud investor in Launch : Alaska, a startup accelerator that accepts a cohort of early-stage companies into an intensive 13-week program offering education, mentorship, co-working and $25,000 to encourage rapid maturity and investment readiness.  Join participants this Thursday, August 25, 2016 for “Demo Day”, from 12:30 – 3:00 p.m. at Bear Tooth, 1230 W. 27th Ave., Anchorage, AK.  Learn more about the event and Launch : Alaska at 


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2014 SBA Alaska Community Lender of the Year Fri, 09 Jan 2015 19:26:17 +0000 ]]> Alaska Growth Capital (AGC) BIDCO, Inc. was selected as the Alaska Small Business Administration’s (SBA) Community Lender of the Year for 2014.  This award recognizes Alaska Growth Capital’s commitment to providing financial assistance to businesses located in Alaska during the federal fiscal year.  Any type of financial institution, located anywhere in the United States, may be considered for this award.

“It is a pleasure to be recognized as the Community Lender of the Year.  AGC appreciates that such an award is not possible without its key strategic partners, SBA, our valued customers, and of course our employees.  We recognize that prudently deploying capital where and when businesses need it, is critical for creating jobs and to grow our local and state economies.  AGC strives to meet the high-level of demand for our services, especially those in underserved, remote and low income areas, and sees 2015 as providing even more opportunity, “said Alaska Growth Capitol CEO Chris McGee.

Alaska Growth Capital approved 28 loans during the fiscal year ending September 30, 2014, totaling $28,416,400.00.

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2013 SBA Alaska Community Lender of the Year Wed, 29 Jan 2014 18:29:35 +0000 ]]> Alaska Growth Capital is pleased to be recognized as the 2013 SBA Alaska Community Lender of the Year for the third consecutive year. This award distinguishes AGC’s commitment to the small business owners of Alaska which resulted in the approval of 24 SBA loans totaling $22,637,200 during the federal fiscal year ending September 30, 2013. Our mission is to help our clients grow and thrive in Alaska’s business environment, and here at AGC, we are honored to be able to support businesses throughout the state. We thank our dedicated and hard-working staff as well as Arctic Slope Regional Corporation.

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U.S. Small Business Administration Alaska District Selects 2013 Alaskan Small Business Person of the Year Sat, 22 Jun 2013 00:25:27 +0000 ]]> Justin Herrin and Doug Coon, owners of Young’s Gear, LLC, will be honored as one of the nation’s top state small business winners in Washington D.C.  June 21st for the national Small Business Week Awards celebration.

To read the full story, please click on the link.

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2012 SBA Alaska Community Lender of the Year Mon, 08 Apr 2013 17:31:38 +0000 ]]> It is a great accomplishment to be recognized once again as SBA’s Community Lender of the year for Alaska. We thank Arctic Slope Regional Corporation and its shareholders for their continued support, AGC’s motivated team for their dedication and hard work as we actively strive to meet our mission in assisting Alaskan businesses grow. We are also grateful for the partnership that we at AGC have built with the SBA over the past 15 years.

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CEO Hugh Short to Speak at Business Of Clean Energy Conference [sample] Sun, 04 Mar 2012 22:35:46 +0000 ]]> Lorem ipsum dolor sit ame ctetur adipiscin ucibus rutrum justo a pretic sit amet ante justo posuere mollis, ac quis te nec sit pellentesq nenatis a liber hasellus pellentesque massa eu purunt porttit.

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2011 SBA Alaska Community Lender of the Year Tue, 18 Oct 2011 20:45:23 +0000 ]]> The SBA Alaska District Office has recognized Alaska Growth Capital as the 2011 SBA Alaska Community Lender of the Year. This award recognizes Alaska Growth Capital’s commitment to providing financial assistance to Alaska’s small business owners, which resulted in the approval of 24 SBA loans totaling $17,815,000 during the federal fiscal year ending September 30, 2011.

As a key SBA lending partner, Alaska Growth Capital plays a vital role providing access to capital for Alaskan entrepreneurs which allows them to grow and create jobs.

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Alaska Growth Capital Helps to Secure Comfortable Care for Elders in Northwest Alaska Tue, 04 Jan 2011 01:21:57 +0000 ]]> Alaska Growth Capital BIDCO, Inc. has teamed up with Maniilaq Association, the State of Alaska, Dudley Ventures, LLC, and New York Community Bank to secure $18,635,000 for the construction and operation of a Kotzebue extended‐care nursing home (Elders/Long Term Care) using leverage from a federal community development tax incentive program. Maniilaq Association is a non‐profit corporation which represents a dozen federally‐recognized tribes in Northwest Alaska.

When complete, the 14,340 square foot addition to the Maniilaq Health Center will provide advanced care for up to 18 elders, as well as provide 20 full time jobs. “This facility will ensure that our elders will receive the best possible care close to their families and friends in Northwest Alaska. Our Elders get to stay closer to home without having to go to facilities in Anchorage or Fairbanks, and will receive a higher level of medical care while continuing to live in the region, eat the foods they are accustomed to eating and experience the same cultural activities they are used to,” said Maniilaq President Ian Erlich. Additionally, the State of Alaska will benefit by saving millions in Medicaid dollars, utilizing Federal Medicaid rather than State funds. Since Medicaid rates within Tribally Funded Long Term Care Programs are fully reimbursable by the Federal Government, the State to cover 45% is not required.

The Maniilaq Health Center Elder Care Addition project will receive the funds through a program called the New Markets Tax Credit Program (NMTC), the largest federal community development tax initiative in nearly 20 years. “This federal program takes investment funds from Wall Street to Main Street Alaska,” said Hugh Short, President and CEO of Alaska Growth Capital. “Using New Markets Tax Credits can now bring outside investments to qualified rural and urban areas of Alaska.”

The facility is on schedule to start providing Elder care by late summer of 2011. Alaska Growth Capital is an ASRC company that offers business loans guaranteed by the Small Business Administration (SBA) and U.S. Department of Agriculture (USDA); as well as the largest CDFI certified institution in Alaska.

AGC was allocated $50 million in New Markets Tax Credits in 2009 for funding projects in Alaska and Hawaii, Arizona, and Montana, and facilitated the Elder Care Addition as a Qualified Low‐Income Community Investment project. AGC has received $90 million in allocation authority since 2002.

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Alaska Growth Capital and Sheldon Jackson Trustees Agree on Settlement Mon, 03 Jan 2011 01:18:21 +0000 ]]> In an effort to resolve a four-year old debt incurred by the institution, Sheldon Jackson College and Alaska Growth Capital (AGC) have agreed to terms to release AGC’s interest in SJ properties.

“We have worked hard to cooperate with Sheldon Jackson to help it get back on its feet and to continue the mission of educating young people statewide,” said Jacob Adams, chairman of Arctic Slope Regional Corporation. “Sheldon Jackson has been an important educational institution for Alaskans statewide and for the leadership here on the North Slope. We hope that this will give the college a boost to continue with its future plans.”

With the assistance of Alaska Growth Capital, an Arctic Slope Regional Corporation company, Sheldon Jackson has been able to liquidate some of its assets toward debts that included a loan package delivered by AGC. This will allow the Sheldon Jackson Trustees to work with community partners to further the educational legacy of the SJ Campus.

“This is a wonderful holiday announcement,” said Dr. Shirley J. Holloway, chair of the Sheldon Jackson Board of Trustees. “On behalf of the board of trustees, we thank AGC and ASRC for their steadfast commitment to help us save the core campus for future educational opportunities for Alaska.”

AGC worked with the trustees to find a mutually agreeable settlement between the two entities. Settling the account comes four years after Sheldon Jackson was approved for a working capital loan administered by AGC.

“AGC has cooperated with Sheldon Jackson officials over the past four years to make an effort to reduce the college’s debt,” said Adams. “ASRC and AGC hope that this agreement will allow the remaining Sheldon Jackson campus properties to proceed to further the SJ legacy.”

Alaska Growth Capital is an ASRC company that offers business loans guaranteed by the Small Business Administration (SBA) and U.S. Department of Agriculture (USDA); as well as a Community Development Finance Institution with U.S. Treasury allocation authority for New Markets Tax Credits.

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