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Alaska SBDC asks borough to continue support after reporting $16 million in capital aided clients
Summary
The Alaska Small Business Development Center presented results showing nearly $16 million in capital infusion tied to local clients in FY 2024 and asked the borough to continue annual funding that supports local advisors in Kenai, Soldotna, Seward and Homer.
Alaska Small Business Development Center director Cliff Cochran told the assembly on May 20 that the SBDC’s Kenai‑Peninsula service team supported nearly 500 active clients in the preceding year and reported roughly $16 million in capital infusion tied to local clients in fiscal 2024.
Cochran described the SBDC’s no‑cost confidential advising, low‑cost workshops and industry toolkits. He said the center’s offerings include financial‑projection models used by lenders, benchmarking subscriptions (ProfitSense) and industry reports (IBISWorld) that the SBDC makes available to clients. Cochran said those resources help prospective and existing businesses with feasibility, financing, buying and selling businesses, and planning.
The center’s local staffing model includes Cochran covering Kenai/Soldotna/Nikiski/Sterling/Kasiloff, a home‑business advisor (Robert Green), and Seward and Homer advisors; Cochran said the borough’s annual contribution (listed in the presentation as $140,000) accounts for about 29% of center funding and helps sustain local advisor positions.
Cochran said the center’s FY 2024 results included increased client hours and capital access despite staff interruptions for medical and family leaves. He also noted high client satisfaction and that the SBDC helps prepare projects that secure lending from banks beyond the borough.
Assembly members praised the center and encouraged clients to complete federal survey feedback that helps the SBDC demonstrate impact to funders. Cochran asked the assembly to continue funding the local share for FY 2026.
