Alaska Growth Capital BIDCO, Inc. (McKinley Alaska Growth Capital or MAGC) is an innovative alternative lending company based in Anchorage, Alaska, and doing business throughout the northwestern United States. MAGC 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.
MAGC 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. MAGC is a resource for companies who are finding traditional lenders slow to act or unable to provide financing terms that meet their needs.
McKinley Alaska Growth Capital is an eleven-time SBA Community Lender of the Year, and is a Native-owned certified Community Development Financial Institution (Native CDFI). MAGC has successfully deployed $100 million of New Markets Tax Credits (NMTC), and provides professional servicing of all assets in its portfolio. MAGC 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 MAGC opened its doors in 1997, it has provided over $600 million in capital to its customers, helping them to create and maintain tens of thousands of jobs. MAGC is currently doing business in Alaska, Hawaii, Montana, Washington, Colorado, Wyoming and Idaho.
MAGC employs a talented team of professionals dedicated to their customer’s success, with a passion for making their communities stronger. As a registered BIDCO, MAGC is regulated by the Alaska Division of Banking and Securities which provides the necessary licensing, regulation, and enforcement that enables MAGC to satisfy eligibility requirements for the various programs it participates in.
McKinley Alaska Growth Capital is a subsidiary of McKinley Management, LLC. McKinley Management is a privately held, global investment and research firm based in Anchorage, Alaska, with offices in Juneau and Chicago. Its four business units, McKinley Capital Management, McKinley Alaska Private Investment, McKinley Research Group and McKinley Alaska Growth Capital work together to provide clients seamless services umbrellaed under one company.
Bristol Bay Native Corporation (BBNC) is an Alaska Native Corporation representing the interests of more than 10,000 Alutiiq, Dena’ina, and Yup’ik shareholders. BBNC works to protect the land in Bristol Bay, celebrate the legacy of its people, and enhance the lives of its shareholders. BBNC is strategic investor in McKinley Alaska Growth Capital and provides both direct leadership on MAGC’s board of directors as well as partnership on economic development initiatives throughout the Bristol Bay Region.