Alaska Growth Capital

What Alaska Growth Capital does

Alaska Growth Capital BIDCO, Inc. (dba Alaska Growth Capital, also branded MAGC) is a private, Anchorage-based Community Development Financial Institution (CDFI) founded in 1997 as Alaska's first Business and Industrial Development Corporation (BIDCO). It originates SBA 7(a) loans up to $5 million and USDA Business & Industrial loans, primarily to small businesses in rural Alaska and the northwestern United States (Alaska, Montana, Hawaii, Idaho, Washington, Colorado, Wyoming), and deploys federal New Markets Tax Credit allocations to larger community and infrastructure projects. The firm holds an SBA Preferred Lender designation, U.S. Treasury Native CDFI certification, and one of only 17 national Small Business Lending Company (SBLC) licenses granted in November 2023—the first expansion of the SBLC program in over 40 years—enabling nationwide SBA lending. AGC has deployed more than $800 million in capital since inception, led 28 Alaska lenders in SBA 7(a) volume during FY 2023 with $15.3 million extended, and has been recognized 12 times as SBA Community Lender of the Year.

More than 60 percent of AGC's activities serve Alaska Native, Native American, and Native Hawaiian businesses and communities. Its primary customer segments are Alaska Native shareholder entrepreneurs served through three branded business plan competitions (North Slope Marketplace since 2009, Bristol Bay Marketplace and Aleut Shareholder Marketplace launched in 2024), rural Alaska SMBs that cannot meet conventional bank underwriting, and small businesses with $1M–$100M in revenue seeking loans of $500K–$10M. The economic model is spread-based: fully amortizing multi-year loans (up to 30 years) typically priced at Prime + 3%, plus SBA/USDA guarantee fees and NMTC deployment fees. AGC is a subsidiary of Bristol Bay Native Corporation (majority owner since December 31, 2024) with McKinley Management, LLC retaining a minority stake, and operates with a team of approximately 15 professionals out of its Anchorage headquarters at 3900 C Street.

Operationally AGC is not a technology company; its platform is a direct, relationship-driven lending and community-development business that depends on third-party loan-origination software (lendwithspark.com) and third-party interpretation services for Title VI/Limited English Proficiency compliance. Distribution relies on regional-corporation partnerships, Marketplace competitions, Alaska Startup Week sponsorship, and referral networks (Spruce Root, UAA Center for Economic Development, Alaska SBDC, 49th State Angel Fund). Since the 2023 SBLC license, strategic intent is to scale national lending under the AGC, MAGC, and Anchorage Alaska Lending Company brands, while deepening the Alaska Native shareholder focus through its parent BBNC's economic-development mandate.

Name

Alaska Growth Capital

Legal name

Alaska Growth Capital BIDCO, Inc.

Website

https://alaskagrowth.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

1–10 employees

Short description

Alaska Growth Capital is an Anchorage-based, Native-certified CDFI that originates SBA 7(a), USDA, and New Markets Tax Credit loans for small businesses in rural Alaska and the northwestern United States, with a mission focus on Alaska Native shareholder entrepreneurs and underserved communities.

Ownership category

akta.pro rank

Product category

Community Development Lending

NAICS

Sales Financing (52222), Grantmaking and Giving Services (81321)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industries

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA), Development Finance & Blended Finance Facilities (BPADAOAD), SME Term Loans & Growth Capital (FSAKAGAB)

Keywords

• SBA 7(a) lending
• Community development finance
• USDA business loans
• New Markets Tax Credits
• Rural small business financing

Headquarters

HQ city

Anchorage

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. SBA 7(a) Loan Program: Provides financing up to $5 million through the SBA 7(a) loan program for working capital, equipment purchases, real estate, business acquisitions, and debt refinancing. Generates revenue through loan interest and fees.
2. USDA Business & Industrial Loan Guarantee: Provides business and industrial loan guarantees for qualifying rural businesses, generating revenue through loan servicing and guarantee fees.
3. New Markets Tax Credits (NMTC): Deploys NMTC allocation to provide below-market debt with flexible terms to projects in low-income communities. Generates revenue through NMTC deployment and compliance.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Alaska Growth Capital is a certified Native Community Development Financial Institution (CDFI) that provides business financing through SBA 7(a) loans (up to $5 million) and USDA Business & Industrial Loan Guarantee programs to small businesses in rural and underserved markets. The company also deploys New Markets Tax Credits for larger community development projects and administers three regional business plan competitions that deliver training, mentorship, and grant awards to Alaska Native entrepreneurs.

Product overview

Alaska Growth Capital is a financial services company offering a portfolio of lending products and community development programs. The core offerings include SBA 7(a) loans (up to $5 million) and USDA Business & Industrial loans for small businesses across Alaska and the northwestern United States, along with New Markets Tax Credits (NMTC) for large infrastructure projects. The company administers three regional business plan competitions—North Slope Marketplace, Bristol Bay Marketplace, and Aleut Shareholder Marketplace—that provide training, mentorship, and grant funding (up to $25,000 per award) to Indigenous entrepreneurs. Additionally, AGC provides language assistance services for limited English proficiency customers. The company specializes in serving rural, underserved markets and Alaska Native communities that traditional lenders often cannot serve.

Differentiator

Problem solved

Functional benefit

Brands

• North Slope Marketplace: A business plan competition for Arctic Slope Regional Corporation shareholders to foster entrepreneurship.
• Bristol Bay Marketplace
• Aleut Marketplace

Products and services

• SBA 7(a) Loan Guarantee Program SBA 7(a) loan guarantee program providing financing up to $5 million for small businesses, used for working capital, equipment purchases, refinancing business debt, acquiring or improving real estate, and business acquisitions. AGC is an SBA Preferred Lender with 12-time Community Lender of the Year recognition.
• USDA Business & Industrial Loan Guarantee Program

Quantifiable outcome

• Top SBA 7(a) lender in Alaska for FY 2023 with $15.3 million in loans
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Spruce RootcoreStrategic or Co-development PartnerStrategic partnership with Spruce Root to co-administer and expand the Alaska Marketplace business plan competition. Spruce Root runs the nationally recognized Path to Prosperity Business Competition and provides expertise in business development, mentorship, and sustainable economic growth.
• Bristol Bay Native CorporationcoreStrategic or Co-development PartnerPartnership with Bristol Bay Native Corporation to administer the Bristol Bay Marketplace business plan competition, open to BBNC shareholders, descendants, and spouses.
• The Aleut CorporationcoreStrategic or Co-development PartnerPartnership with The Aleut Corporation to administer the Aleut Shareholder Marketplace business plan competition, open to Aleut shareholders and registered descendants.
• Arctic Slope Regional CorporationcoreStrategic or Co-development PartnerPartnership with Arctic Slope Regional Corporation to administer the North Slope Marketplace business plan competition since 2009, investing over $1 million in the North Slope economy.
• Anchorage Community Land TrustminorStrategic or Co-development PartnerPartnership with Anchorage Community Land Trust for the Set Up Shop business development training program and support for North Slope Marketplace.
• UA Center for Economic DevelopmentminorImplementation/ SI/ Consulting PartnerUniversity of Alaska Center for Economic Development provides support for business competitions and entrepreneurial training programs.
• Alaska Small Business Development CenterminorImplementation/ SI/ Consulting PartnerPartnership for providing business development resources and support to entrepreneurs in Alaska.
• 49th State Angel FundminorGTM or Marketing PartnerPartnership to co-host Pitchfest at the Accelerate Alaska Conference, supporting Alaska entrepreneurs.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Coastal Enterprises, Inc. Maine-based CDFI providing SBA, USDA, and community development lending to underserved small businesses in rural and low-income communities. Highly comparable mission-driven lending model combining SBA Preferred Lender status with CDFI capital and direct business advisory services.
• Northern Initiatives: Michigan-based CDFI providing SBA 7(a) and SBA 504 loans plus direct loans to small businesses in underserved rural and urban communities. Comparable CDFI-as-SBA-lender operating model serving markets underserved by traditional banks.
• Lakota Fund: Native CDFI serving the Pine Ridge Reservation and surrounding communities with small business lending, business development, and grant programs. Closest peer on Native-CDFI-led underserved-market small business lending.
• Native American Bank: Native-led CDFI bank providing SBA lending, commercial loans, and financial services to Native American, Alaska Native, and Native Hawaiian businesses and tribal governments. Compares to AGC on regulatory Native-CDFI status and SBA lending to Native-owned enterprises.
• Craft3: Pacific Northwest CDFI (Oregon/Washington) providing SBA loans, USDA rural development financing, and direct business loans to underserved entrepreneurs and small businesses. Closest geographic and product overlap with AGC's Northwest-state SBLC expansion targets.
• Capital Impact Partners: National CDFI that originates SBA, NMTC, and direct community development loans to underserved small businesses and community projects nationwide. Comparable product mix (SBA + NMTC + community development finance) and scale of capital deployment.
• Mountain West Small Business Finance: SBA 504 and 7(a) preferred lender serving underserved small businesses across the Mountain West and Northwest. Direct peer on SBA-program-driven growth capital lending in adjacent Northwest geographies.

Broad incumbents

• National Community Investment Fund (NCIF): National CDFI industry intermediary providing capital, capacity, and policy support to mission-driven financial institutions including Native CDFIs. Comparable focus on CDFI ecosystem capacity-building and impact measurement but at a broader, less-operational level.
• Fahe: National Appalachian CDFI operating a network of member CDFIs delivering SBA-backed and direct small business lending. Comparable mission and product scope but operates as a network/policy organization at a broader scale than AGC.

Others

• Opportunity Finance Network (OFN): National CDFI industry association connecting more than 250 CDFIs with capital, policy advocacy, and operational support. Relevant ecosystem peer as AGC operates within the OFN membership network supporting community development lenders.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/AlaskaGrowthCap
• Facebookfacebook.com/AlaskaGrowthCapital
• LinkedInlinkedin.com/company/alaska-growth-capital

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alaska Growth Capital