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Alaska Growth Capital BIDCO, Inc.
3900 C Street, Suite 302Anchorage AK, 99503
AGC will concentrate the entirety of its activities in the state of Alaska. An estimated 85% of its activities will be targeted to rural areas, 10% of its activities will be targeted to urban areas, and 5% of its activities will be targeted to suburban areas.
CDFI Awards for Alaska Growth Capital BIDCO, Inc.
NMTC (2009) - $50,000,000
Alaska Growth Capital BIDCO, Inc. will use its NMTC allocation to expand its core products of business and real estate loans for disadvantaged communities, disadvantaged businesses, and targeted low-income populations. NMTC capital will allow Alaska Growth Capital BIDCO, Inc. to expand its services into financing real estate projects with high community impacts, such as: (i) charter schools, including immersion schools in Native cultures to ensure that languages, customs, and history are preserved; (ii) facilities for grocery stores in isolated communities; (iii) health care facilities on Native American reservations in Montana; and (iv) development of Native Hawaiian trust lands by Native Hawaiians.
NMTC (2003) - $35,000,000
Alaska Growth Capital BIDCO plans to use its NMTC allocation to provide non-traditional financing to support businesses located in low-income areas of Alaska and Montana that have the potential to stimulate and diversify their local economies. This financing will be in the forms of senior and subordinated loans, quasi-equity products, and equity investments. The allocatee intends to increase the number of non-guaranteed loans and equity investments that it makes. The loans and quasiequity products will be flexible in nature and have longer than standard maturities, high loan-to-value ratios (up to 100%), no reserve requirements and flexible repayment terms. The non-government guaranteed debt products will also have below market interest rates.
NMTC (2002) - $5,000,000
AGC will utilize its NMTC allocation to support the following types of products and services to small businesses: 1) conventional term loans, 2) lines of credit, 3) shortterm accounts/receivable loans, 4) hybrid- loans, 5) direct equity investments, and 6) technical assistance and leadership training. The organization believes the NMTC Program will allow it to attract new private capital, and to increase the volume of products and services that it offers.
CORE (2002) - $1,525,000
The Fund"s grant of $1,500,000.00, and technical assistance of $25,000.00, will assist the BIDCO in providing more financing to businesses in this highly underserved market.
SECA (2000) - $61,000
The technical assistance award will be used to purchase technology to increase the organization's ability to expand its service geographic area, support staff training, and upgrade its Website.
CORE (2000) - $2,000,000
The CDFI Fund"s $2,000,000 loan will help AGC"s carry out its comprehensive business plan that calls for increasing the organization"s loan capital to meet the growing demand for business loans in its underserved target market.
CORE (1997) - $1,000,000
The $1,000,000 equity investment from the CDF1 Fund will be used to provide needed funding for new small business development.
Other Community Development Financial Institutions in Alaska
Aleutian Financial, Inc.
Anchorage
Aleutian Housing Authority
Anchorage
Bristol Bay Native Association
Dillingham
Tanana Chiefs Conference, Inc.
Fairbanks
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