Press Release Says, New Bills From Senator Wielechowski To Boost Business

New legislation focused on creating a more vibrant business community

ANCHORAGE:  Senator Bill Wielechowski (D – Anchorage) today unveiled two pieces of legislation aimed at strengthening Alaskan businesses: the Small Business Revolving Loan Fund and the capitalization of a new loan program for small business energy-efficiency upgrades.

“One of the keys to a healthy Alaska is a strong, vibrant business community,” said Senator Wielechowski. “Our small businesses are the backbone of our economy and it’s important they have the capital they need to create jobs and new opportunities for Alaskans.”

The Small Business Revolving Loan Fund would allow Alaskan businesses to take out small, short-term loans. Many banks prefer large, long-term loans; small business loans, however, would top out at $50,000 for one person and $100,000 for two or more persons. The loans would also need to be repaid within six years.

“For many small businesses, these short-term, modest loans can be the difference between success and failure,” said Sen. Wielechowski. “The funds can be used for a variety of business needs, such as providing entrepreneurs with start-up capital, giving local businesses the ability to purchase new equipment or hire more employees, and allowing seasonal businesses to manage their inventory.”

Senator Wielechowski’s second piece of legislation to energize Alaska’s small business community would capitalize a loan program to

reduce costs and increase profitability for businesses that invest in energy efficiency.

“Going green doesn’t just conserve energy,” says Senator Wielechowski. “It also helps businesses become more competitive and maximize their bottom lines.”

Sami Glascott, President of the Anchorage Chamber of Commerce, agrees. “This incentive will help businesses afford the up front costs of energy efficiency and save them money in the long term, ultimately reducing demand for energy.”