49th State Fund Expands, 6M Remains For Future Investments

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by Your Alaska Link News Team

ANCHORAGE-Anchorage Mayor Dan Sullivan announces entreprenuers in the state's largest city have a lot to look forward to.

Anchorage is the only city in the nation to get funding from the national treasury for investments. The 49th state angel fund has created two new programs for businesses looking to expand.

The 49th fund is for high-growth businesses.specifically, those on the cusp of something but need a little help before getting approved for a formal loan.

"Funding with any potential company in this bracket would be at most probably 400 thousand dollars at any given company and with milestones where they have to meet certain deliverables within a given point of time to meet funding," said Carol Howarth.

Alaska accelerator will finance start-ups only.of the 13.2m dollars anchorage received in 2012, approximately 6M is still available.

Business owners can submit their proposals for funding through the end of July.


 

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