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April 22, 2020: In this Issue


Financial Assistance from DCCED: Division of Economic Development Investments


Payment Difficulties

The Alaska Division of Economic Development – Investments (DED-Investments) is prepared to work with existing borrowers who may experience economic hardship related to COVID-19. DED-Investments has experienced staff specifically trained to understand the fishing industry, and they are equipped with the tools to assist affected fishermen.

DED-Investments’ approach is to work closely with individual borrowers to craft solutions that work best for each individual borrower. Solutions are pursued on a case-by-case basis, as each borrower’s circumstances are different.

If you are experiencing economic hardship or have any questions, contact the DED-Investments and ask to speak to a loan officer. The officer will explain all available options and provide as much assistance as necessary to find a solution.

DED-Investments staff can be contacted at (907) 465-2510, 1-800-478-5626 (toll free), or financing@alaska.gov.

 

Financing Options

The Alaska Division of Economic Development – Investments (DED-Investments) continues to administer the Commercial Fishing Revolving Loan Fund (CFRLF) during the declared COVID-19 disaster. In addition to the purchase-type loans available, loans can also be made to reimburse funds for previous purchases made for fishing operations. More information about the CFRLF can be found here.

DED-Investments also administers several other revolving loan funds for the State of Alaska that are designed to work with small businesses, including loans for working capital.

Links to the small business loan funds that allow loans to be made for working capital:

More information on all active loan funds currently being administered by DED-Investments can be found on our website at: DED-Investments Loan Funds.

DED-Investments staff can be contacted at (907) 465-2510, 1-800-478-5626 (toll free), or mailto:financing@alaska.gov.

Financial Covid-19 Economic Relief for Alaska's Small Seafood Businesses


April 24, 12:00 pm–1:00 pm AKDT

Seiner fishing boat in Valdez

The CARES Act was created to provide economic relief to those affected by the Coronavirus pandemic. In this webinar, we will cover provisions for small businesses through the SBA and local unemployment offices, CARES Act tax provisions, and economic relief through the State of Alaska. The presentation will be followed by a Q&A.

Alaska Sea Grant is a trusted source of information and assistance for Alaska fishermen and seafood businesses, through the FishBiz program. Join us for a presentation and discussion on Zoom with our experts from around the state. Free online registration is required.

Register Now

Webinar for Fishermen: Navigating the Covid-19 Relief Process


Maine Coast Fishermen’s Association is putting on a webinar tomorrow, April 23 at 12:00 pm Alaska time to help those in the fishing industry navigate the complicated process of getting personal and business relief through the Paycheck Protection Program.  The webinar will be fishermen focused and while there will be some Maine specific information, this will be a beneficial webinar for all fishermen trying to navigate the PPP loan application process. 

Please click the link below to join the webinar:
https://us02web.zoom.us/j/88200599418
            
Dial: +1 312 626 6799  
Webinar ID: 882 0059 9418
 

UFA Member Groups

Alaska Bering Sea Crabbers
Alaska Longline Fishermen's Assoc.
Alaska Scallop Association
Alaska Trollers Association
Alaska Whitefish Trawlers Assoc.
Area M Seiners Association
At-Sea Processors Assoc.
Bristol Bay Fishermen's Assoc.
Bristol Bay Reserve
Cape Barnabas, Inc.
Concerned Area "M" Fishermen
Cook Inlet Aquaculture Assoc.
Cordova District Fishermen United
Douglas Island Pink and Chum
Fishing Vessel Owners Assoc.
Freezer Longline Coalition
Groundfish Forum
Kenai Peninsula Fishermen's Assoc.
Kodiak Crab Alliance Coop.
Kodiak Regional Aquaculture Assoc.
Kodiak Seiners Assoc.
North Pacific Fisheries Assoc.
Northern Southeast Regional Aquaculture Assoc.  
Northwest Setnetters Association
Petersburg Vessel Owner's Assoc.
Prince William Sound Aquaculture Corp.
Purse Seine Vessels Owners Assoc.
Seafood Producers Coop.
Southeast Alaska Fishermen's Alliance
Southeast Alaska Regional Dive Fisheries Assoc.
Southeast Alaska Seiners Assoc.
Southeast Herring Conservation Alliance
Southern Southeast Regional Aquaculture Assoc.
United Catcher Boats
United Southeast Alaska Gillnetters
Valdez Fisheries Development Assoc.

We represent YOU and your industry!  Please become a member today to help UFA continue to represent your business.
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