Paycheck Protection Program Loans in Alaska

What is the PPP?

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 60% of the forgiven amount must have been used for payroll). 

Click here to read more about PPP loan forgiveness.

Who could apply?

  • Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
  • Sole proprietors, independent contractors, and self-employed persons
  • Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location
  • Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
    • 500 employees, or
    • That meets the SBA industry size standard if more than 500

Nationwide -
          by the numbers

  • Total approved loans:
    • 11,823,594
  • Total approved dollars:
    • $799,832,866,520
  • Average loan size:
    • $67,647

Statewide Information

From its original posting date on the Alaska Open Data Portal until December 7th, 2020, data related to PPP loans under $150k did not identify the business name or address and loans over $150k did not identify the exact loan amount. On November 5th, 2020, a federal judge ruled that the SBA must release borrower and loan information. This information was made available to the public on December 1st, 2020 and was updated on the Open Data Portal on December 7th.

Alaska - By The Numbers

Loans over $150k

  • Total approved loans:
    • 5,294
  • Total approved dollars:
    • $2.67 billion
  • Average loan size:
    • $505k
  • Median loan size:
    • $283k
  • Number of Jobs Potentially Retained:
    • 215,978
  • Loan Dollars Per Job Retained:
    • $12,362

Loans under $150k

  • Total approved loans:
    • 42,484
  • Total approved dollars:
    • $1.43 billion
  • Average loan size:
    • $34k
  • Median loan size:
    • $21k
  • Number of Jobs Potentially Retained:
    • 181,314
  • Loan Dollars Per Job Retained:
    • $7,886