Alaska SBDC Annual Report: Record-Setting Year, New Tribal Financing
Photo Credit: Pressmaster | Envato
The Alaska Small Business Development Center (SBDC) annual report for 2024 highlights a record-setting year of small business growth and innovation. According to the report, Alaska entrepreneurs launched 132 new businesses and saw $82.7 million in sales growth, despite price inflation and economic headwinds.
The annual report, released shortly after the release of SBDC’s 8th annual survey of small businesses, also details the UAA-based center’s statewide impact.
Expanding Access to Capital
The report says SBDC served 1,685 clients in 105 communities, delivered 93 workshops to 1,449 attendees, and supported 3,183 jobs.
In 2024, Alaska SBDC clients secured $60.9 million in funding through a combination of personalized advising, technical assistance, and innovative financing tools:
- $32.7 million raised directly with SBDC’s support, including venture capital, owner equity, grants, US Small Business Administration-backed loans, and alternative financing.
- $20.8 million in loans closed through the State Small Business Credit Initiative (SSBCI).
- $7.2 million in financing provided by the Alaska SSBCI Tribal Consortium through sixteen loans in its inaugural year.
Current Issue
June 2025
“For nearly forty years, the Alaska SBDC has helped Alaskans turn ideas into income,” says Jon Bittner, state director of the Alaska SBDC. “In a year of significant economic pressure, Alaska’s entrepreneurs showed remarkable resilience. In 2024, we saw how targeted advising, strong partnerships, and access to capital delivered real, lasting results, especially in underserved communities. That support will be even more critical as businesses navigate fresh uncertainty in 2025.”
In August 2024, SBDC launched the Tribal Consortium backed by more than $83 million to drive private-sector financing of rural and Alaska Native-owned businesses. Marilynn Malerba, lifetime chief of the Mohegan Tribe and at the time the Treasurer of the United States, visited UAA to celebrate the landmark collaboration. Alaska SBDC stands out as the only organization managing both tribal and state SSBCIs.
Innovation Through Specialized Programs
Beyond funding and advising, SBDC is pioneering tools and training to help businesses stay competitive in a changing economy.
- AI Resource Program: In its first year, this national model for digital transformation deployed thirty custom AI tools, conducted more than eighty consultations, and supported sixty-two other SBDCs nationwide.
- BuyAlaska: Serving 1,175 businesses in fifty-five communities, BuyAlaska expanded into visitor markets through cruise line partnerships and launched the B2B Exchange, a statewide platform developed with the Alaska Manufacturing Extension Partnership.
- TREND Program: Awarded nearly $50,000 in Phase 0 grants to five Alaska innovators pursuing federal small business innovation research and technology transfer funding for clean water technologies, botanical medicines, and cold-climate agriculture.
Supporting Military Families and Entrepreneurs Statewide
As part of its commitment to equitable access, SBDC provided free workshops to 184 members of Alaska’s military and veteran community, including active-duty personnel, spouses, and veterans, saving participants more than $2,200 in fees and expanding access to business resources across Alaska’s military bases and remote communities.
“We’re meeting entrepreneurs where they are; in urban centers, fishing villages, and hub communities,” Bittner says. “In 2024, we supported 105 Alaskan communities. In 2025, we’re focused on building on that momentum, closing capital gaps, and helping more Alaskans turn their ideas into action.”
The Alaska SBDC invites the community to explore the 2024 Annual Report, available for download at https://aksbdc.org/about/annual-reports/.
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