About this programme
Spruce Root is an Indigenous institution that provides Southeast Alaskans with access to business development resources, including loans, coaching, workshops, and more. It pairs its loan products with business coaches who work with founders every step of the way, from business planning through the loan application itself.
Beyond lending, Spruce Root runs "Business Basics" courses and workshops, financial foundations training, the "Path to Prosperity" business competition, and general resources for business planning and financing. It serves communities across Southeast Alaska, including Juneau, Ketchikan, Prince of Wales Island, and Kake.
How it works
Spruce Root's standard business loan goes up to $500,000, at an average interest rate of 8.5%, with flexible terms of 5 to 7 years (borrowers can inquire about other terms). These loans are secured and can be used for startup capital, leasehold improvements, business expansion, or working capital.
Spruce Root also offers an SBA Microloan of up to $50,000 for Alaska-based for-profit businesses, with funding available in as little as 4 weeks. Proceeds can go toward working capital, supplies, furniture and fixtures, machinery, or equipment. Loan funds must be used within 2 years of disbursement, and applicants cannot owe more than $50,000 in outstanding SBA microloan debt at once; requests over $20,000 require a loan-declination letter from a conventional lender.
For clean energy projects, the Tongass Energy Bank offers an expected loan range of $500,000 to $4,000,000, at interest rates of 3.5% to 7%, with terms from 12 months to 15 years.
Who can apply
Applicants must be over 18 and located in Southeast Alaska. Startups without an existing business are welcome to apply.
A formal business plan is required, along with collateral, though Spruce Root accepts flexible forms of collateral. Good credit is not mandatory.
For the SBA Microloan specifically, the business must be a legal, for-profit business located in Alaska and meet SBA small business size standards.
There are no automatic approvals; a loan committee reviews each application individually.
How to apply
- Use the "Get Started" inquiry form on the Spruce Root website, or contact the organization directly at (907) 586-9251 or grow@spruceroot.org.
- Work with a Spruce Root business coach, who assists with business planning and preparing the loan application.
- Submit a formal business plan and the required collateral information as part of the application.
- The loan committee reviews the application; there are no automatic approvals.
Frequently asked
Do I need good credit to qualify?
No. Spruce Root states that good credit is not mandatory, though collateral is still required (in flexible forms) and every application goes through loan committee review.
Can I get a loan for a business I haven't started yet?
Yes. Spruce Root does not require an existing business for startup applicants, though a formal business plan is required.
How fast can I get an SBA Microloan?
Funding is available in as little as 4 weeks for the SBA Microloan, which goes up to $50,000.
What if I want financing for a clean energy project?
The Tongass Energy Bank offers loans in the expected range of $500,000 to $4,000,000 for clean energy projects, at 3.5% to 7% interest with terms from 12 months to 15 years.
More funding in Alaska
Alaska State SSBCI Program
Alaska Small Business Development Center (Alaska SBDC) · Alaska
State-backed loan guarantee, participation, and equity program helping Alaska lenders finance small businesses.
Alaska Tribal SSBCI Consortium
Alaska Small Business Development Center (Alaska SBDC), Tribal SSBCI Consortium · Alaska
Tribal consortium loan guarantee, participation, and venture capital program financing Alaska small businesses.
Business Impact NW Loans
Business Impact NW · Alaska
CDFI lender offering $5,000 to $750,000 business loans across Alaska, Idaho, Oregon, and Washington.
Southeast Alaska Revolving Loan Fund
Juneau Economic Development Council (JEDC) · Alaska
JEDC's revolving loan fund bridges the financing gap for Southeast Alaska businesses that banks won't fully fund.
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.