In 2009, the Arctic Slope Regional Corporation and Alaska Growth Capital leadership acknowledged the economic challenges of the North Slope villages in accessing capital for entrepreneurial opportunity. Under the direction of Alaska Growth Capital, the North Slope Marketplace was created to provide financial and technical resources to support entrepreneurial activity among the 8 North Slope communities.
In addition to technical assistance, the North Slope Marketplace provides a small business grant opportunity that ASRC shareholders can apply for funds up to $25,000.00 for their businesses among the North Slope. The generous grant funding fosters economic opportunities within the 8 North Slope Communities. Since 2009, the NSM has funded 47 shareholder businesses among the North Slope communities in order to achieve the vision that our North Slope communities have sustainable economies with healthy locally-owned businesses.
In order to achieve our vision of Sustainable communities, the North Slope Marketplace does the following:
- Technical resources, mentoring and business coaching
- Business planning courses, entrepreneurial and small business training, and one-on-one business assistance
- Small business lending in rural Alaska
- Education and access to other funding sources and collaborative partnerships throughout the region.
Who We Are
Alaska Growth Capital is a proven catalyst in growing economic opportunities, rooted in community. In addition to supporting sustainable economies on the North Slope, AGC is a major lender to the rural and low-income regions in Alaska that are often under-served by the traditional banking system, including many Alaska Native Corporations.
AGC has been named the SBA Community Lender of the Year eight years in a row as well being a Native-owned certified Community Development Financial Institution (Native CDFI). Through its innovative approaches, AGC has successfully secured and deployed $90 million of New Market Tax Credits (NMTC) while providing professional servicing of all assets in its portfolio.
Interested in staying updated with the cool things Alaska Growth Capital does? Like us on Facebook!