There may be some wiggle room for more loans because some of the 130 applicants so far won’t qualify. The Juneau Assembly created the program and set aside $3 million for it just two weeks ago.
Business
Industry groups are suing the people behind the oil tax ballot initiative, arguing they gathered signatures illegally
The oil tax initiative would raise the minimum tax and eliminate oil tax credits for Alaska’s largest legacy fields: Prudhoe Bay, Kuparuk and Alpine.
Ravn is $90M in debt and could be forced to shut down for good, court docs say
Alaska’s largest rural airline is $90 million in debt and could be forced to sell its assets and shut down permanently, putting rural travel and supply lines in peril unless the government or new investors come to the aid of the bankrupt company, according to documents filed in federal court.
BP’s sale of its Alaska business is in jeopardy, The Wall Street Journal reports
As oil prices crater, banks are hesitant to finance the $5.6 billion deal, according to the Wall Street Journal.
5 things to know about business Paycheck Protection Program loans
Many Alaska businesses on the edge of survival are looking to the new Paycheck Protection Program for a life line. A lot is in flux, but here are five things to know.
Alaskans are panic-buying seeds for their pandemic gardens
As coronavirus disruptions stoke food security fears, seed sellers are inundated with orders.