Alaska Growth Capital BIDCO, Inc. (AGC) is an innovative alternative lending company based in Anchorage, Alaska, and doing business throughout the northwestern United States. AGC was founded in 1997 as Alaska’s first Business and Industrial Development Corporation (BIDCO), created to promote economic development and job creation by providing loans, investments, and management assistance to businesses.
AGC is a leading provider of business loans utilizing programs offered by the Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA), providing financing up to, and in some cases exceeding, $10 million. AGC is a resource for companies who are finding traditional lenders slow to act or unable to provide financing terms that meet their needs.
Alaska Growth Capital is a nine-time SBA Community Lender of the Year, and is a Native-owned certified Community Development Financial Institution (Native CDFI). AGC has successfully secured and deployed $90 million of New Market Tax Credits (NMTC), and provides professional servicing of all assets in its portfolio. AGC is a major lender to the rural and low-income regions in Alaska that are often under-served by the traditional banking system, including many Alaska Native Corporations.
Since AGC opened its doors in 1997, it has provided over $500 million in capital to its customers, helping them to create and maintain tens of thousands of jobs. AGC is currently doing business in Alaska, Hawaii, Montana, Washington, Colorado, and Idaho.
AGC employs a talented team of professionals dedicated to their customer’s success, with a passion for making their communities stronger. As a registered BIDCO, AGC is regulated by the Alaska Division of Banking and Securities which provides the necessary licensing, regulation, and enforcement that enables AGC to satisfy eligibility requirements for the various programs it participates in.
Alaska Growth Capital is a wholly owned subsidiary of Arctic Slope Regional Corporation (ASRC). ASRC is owned by and represents the business interests of roughly 13,000 Iñupiat shareholders and is the largest locally owned and operated business in Alaska with approximately 13,000 employees and over $3 billion in revenues. www.ASRC.com