Alaska Business Loans

Alaska, “The Last Frontier” has an economy that is largely dominated by the oil and gas industries. The state has a lot of small business owners that provide a variety of different products and services. As often seen in other local economies, Alaska has thrived in manufacturing, distribution, retail, transportation and other service-based businesses. The frigid temperatures affect businesses in most industries throughout the state. Small business loans in Alaska are used to help bridge the financial gap in the tough winter months. SMB Compass provides business loans in Alaska to a wide range of businesses and industries throughout the state.

The oil and gas industry make up for more than 85% of the state’s economy. The revenue from the oil and gas produced in Alaska helps fund a majority of the state budget. Equipment financing in Alaska allows business owners the opportunity to purchase new equipment and machinery, helping to bring extra revenue for the business. Small business loans in Alaska also provide businesses with working capital to cover overhead and payroll expenses.

Due to its geographical location, Alaska has a large population of fisherman throughout the state. Alaska has more inland water and coastline than any other state by a wide margin, which provides business numerous different opportunities in the industry.

Salmon and Crab are two of the most common catches and bring in a large percent of the state’s fishing revenue. In the fishing industry there are a lot of upfront expenses including equipment, boats, inventory and labor. SMB Compass provides small business loans and fishing loans in Alaska to help business owners cover expenses and grow their businesses.

The mining industry is a prevalent in Alaska, focusing primary on gold, oil, natural gasses, and zinc. In the mining industry it is crucial to hire the right employees to ensure that the operation is running properly. Equipment loans and small business loans in Alaska allow businesses to cover expenses and take advantage of new opportunities.

The transportation industry in Alaska is valuable resource for the states local economy. Transportation loans in Alaska assist with equipment financing, truck repairs, factoring, and other added expenses. SMB Compass provides businesses in the transportation industry with fuel cards and low interest transportation factoring in Alaska to help businesses operate efficiently and cost effectively.