Juneau Assembly appropriates $3M to assist small businesses during pandemic

ANCHORAGE, Alaska (KTUU) - The City and Borough of Juneau Assembly passed an emergency $3 million appropriation grant on April 1 to provide small businesses with working capitol to bridge the time before federal or state funding becomes available.

To qualify for a loan, a business must demonstrate it's adversely impacted by the COVID-19 pandemic.

Loans can be disbursed until the end of the year.

A business with ten or fewer employees is eligible for a maximum loan amount of $25,000, and a business with 11 to 25 employees is eligible for a maximum loan amount of $50,000.

The $3 million is coming out of the CBJ's budget reserve fund.

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