McKinley Alaska Growth Capital

Welcome Mark Renner to the MAGC team! With over 25 years of banking experience, Mark brings a wealth of knowledge and passion for helping businesses grow. After graduating from the University of Colorado, he returned to Alaska, working in Prudhoe Bay before starting his banking career at the National Bank of Alaska. Mark’s background includes managing the Bethel branch, commercial real estate, and supporting businesses in achieving their goals. We're excited to have him on board and can’t wait to see the impact he’ll have!

It's Alaska Entrepreneurship Week! We're beyond grateful to work alongside a vibrant and diverse group of entrepreneurs from across our incredible state, each bringing unique energy to their communities. Today, we had the pleasure of connecting (both virtually and in person) with some of our Alaska Marketplace participants. It was inspiring to hear about their progress, challenges, and successes on their entrepreneurial journeys. Building a business is tough but so rewarding, and we couldn't be prouder of the hard work and dedication this group shows every day. None of this would be possible without the support of our amazing partners! Big thanks to Spruce Root, Anchorage Community Land Trust, University of Alaska Center for Economic Development, Alaska SBDC, Alaska Native Science & Engineering Program (ANSEP), and Element Agency! To learn more about Alaska Entrepreneurship Week and some of the events going on around the state, visit https://lnkd.in/gPYWQJtk #alaskaentrepreneurshipweek #supportlocall #entrepreneurship

We’re proud to announce that McKinley Alaska Growth Capital has received a $40 million allocation of federal New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s CDFI Fund. This new allocation will enable us to invest in businesses and projects across Alaska, particularly in high-poverty regions and Alaska Native Village Statistical Areas. Our focus is on addressing critical infrastructure needs and creating opportunities for growth in rural and underserved communities. We’re excited to continue building a stronger, more vibrant Alaska for all. Click here to read the full press release: https://lnkd.in/g-sZqrHj

On September 23, 1994, the Community Development Financial Institution (CDFI) Fund was created through bipartisan legislation, aimed at increasing economic opportunities in underserved communities. Now, 30 years later, it has proven to be a game-changer for local economies across the country. At Alaska Growth Capital, we’re proud to be a Native CDFI, committed to fostering the economic development of Alaska and empowering Indigenous and rural communities. With a mission-driven focus, we are helping businesses grow and succeed throughout our state. Here’s to 30 more years of growth, innovation, and economic opportunity! #CDFIFund #NativeCDFI

Our team just wrapped up an incredible week, hosting 30 entrepreneurs from across Alaska as part of our Alaska Marketplace business plan competition. This Intensive Entrepreneur Training is our favorite part of our Alaska Marketplace programming; we get to watch a remarkable group of entrepreneurs come together and fully immerse themselves in the hard work required to launch and grow small businesses. What began as three separate business plan competitions (North Slope Marketplace, Aleut Shareholder Marketplace, Bristol Bay Marketplace), evolved into a close-knit, family-like community of supportive entrepreneurs all moving forward for a more resilient Alaska. We are so proud of this group and can't wait to continue working with them as they develop their business plans over the next three months. Our Marketplace programming has come a long way in the last few years, and we couldn't do it without our valued partners at Spruce Root! Check out this clip from our 2023 training in Utqiagvik with our North Slope cohort: https://lnkd.in/gi3Q6ctV We’re excited to share more from our 2024 training later this year! For now, here are a few pictures!

We are SO excited to introduce our three cohorts of entrepreneurs from all across Alaska! We received 76 applications for the North Slope Marketplace, Aleut Shareholder Marketplace, and Bristol Bay Marketplace, and this group scored at the top of their respective regions. They are now in the running to win up to $25,000 to start or grow their businesses. These aspiring entrepreneurs are bringing direct benefits to their communities through their entrepreneurial spirit and innovation. We can't wait to bring them together for business Boot Camp in Anchorage next month, where they will gain the resources needed to build a strong foundation and bring their small business dreams to life. #Entrepreneurs #SmallBusiness #BusinessPlan

Partner Recognition Post! This year, we proudly expanded our flagship (North Slope) Marketplace programming to two new regions: the Aleutians and Bristol Bay. These business plan competitions are open to Shareholders of Arctic Slope Regional Corporation, Shareholders and Descendants of Aleut Corporation, and Shareholders, Descendants, and Spouses of Bristol Bay Native Corporation. We were thrilled to receive 76 applications across the three regions and have selected the top 10 from each region to advance in the competition. In just five short weeks, we will host these entrepreneurs in Anchorage for a three-day Business Boot Camp. During this event, they will acquire essential skills to develop comprehensive business plans and financial projections. Bringing this programming to life is a significant endeavor, and it would not be possible without the support of our valued partners. When we collaborate on these initiatives, we are undoubtedly stronger and able to provide top-notch resources to our entrepreneurs. A huge shout-out and heartfelt thank you to Spruce Root, Anchorage Community Land Trust, University of Alaska Center for Economic Development, Element Agency, Alaska SBDC, and our regional partners: Aleut, Arctic Slope Regional Corporation, and Bristol Bay Native Corporation.

As an SBA Lender, fueling the growth of small businesses is our passion! Today, we're excited to highlight beadedstream, a cutting-edge tech company in Anchorage, Alaska. Founded in 2004 by Dave and Brian Shumaker, beadedstream specializes in real-time software and sensor solutions, providing critical data for projects in Alaska and beyond. Their technology is essential for monitoring climate change and permafrost conditions. In 2024, we provided an SBA loan to beadedstream to expand their manufacturing capabilities in Anchorage. This funding allowed them to purchase advanced equipment and their office-warehouse, significantly boosting production capacity and efficiency. "Jennifer Snodgrass and Julie Woodworth were instrumental in our growth," said Dave Shumaker. "Their support made our dream of bringing more manufacturing jobs to Alaska a reality." Congrats to beadedstream on their continued success and innovation! #SmallBusiness #SBAlending

Our Customer Discovery workshop, in partnership with UA Center for Economic Development, is right around the corner! Test your ideas, challenge assumptions, and dive deep into your customers' needs. Through fieldwork and two interactive sessions, you'll refine your value hypothesis and increase your chances of success. Register today! https://lnkd.in/eqGKNqyT

We're teaming up with the incredible folks at University of Alaska Center for Economic Development for a Customer Discovery Workshop that you won't want to miss! Are you ready to dive deep into understanding your customers like never before? Whether you're a seasoned entrepreneur or just starting out on your business journey, this workshop is tailor-made for you. Register today! https://lnkd.in/eqGKNqyT