National Alaska Day

by | Jun 28, 2022 | Resources | 0 comments

Today marks National Alaska Day. From cities like Juneau and Anchorage to the peaks of Mount Denali, Alaska offers gorgeous scenery, rugged terrain, and a welcoming climate for visitors and newcomers alike. June 28th was the day that Alaska joined the union. It officially became the most significant state to do so. This is why we commemorate National Alaska Day on the day that we do.

Perhaps one of the great things about this particular state is that diverse groups of people populate it. The Inuit, for example, are a massive part of the culture that shaped Alaska. People from all over the country travel here to experience for themselves the beauty, majesty, and utter hospitality that exists in Alaska, otherwise known as the Land of the Midnight Sun.

Facts for National Alaska Day

Here are a few things that you may not know about Alaska:

  • Mount Denali, located in Alaska, is the highest peak in North America.
  • Alaska has over 33,000 miles of shoreline.
  • There are approximately 3 million lakes in Alaska.
  • You can view the Northern Lights from Fairbanks throughout most of the year.
  • There are nearly as many bears as people; one bear for every 20 people.

There are so many exciting things to learn about this state. Beyond its wildlife and natural scenery, Alaska actually has some relatively bustling cities. Anchorage, for example, is home to a reasonably large population of artists and musicians, more so than any other place in Alaska.

Getting a Small Business Loan in Alaska

Many small business owners have invested their time and money in making a go of their Alaska-based venture. As can happen, they may find that they need additional working capital at some point. Particularly during a more difficult economic time, a time when money may be slow coming in, getting a business loan to bolster your business could be a necessity. But how do you go about doing this? It really isn’t as difficult as many people might think. In fact, getting a small business loan in Alaska couldn’t be easier, especially when working with an alternative or online lender.

1. Have a plan in place

First, before applying for a business loan, know what that loan will be used for. Be it to weather the storm, expand your facility, launch a marketing campaign, you name it, having the money earmarked for something specific will enable you to maximize your loan proceeds. Not to mention, if you have a solid plan for the funds, a lender will likely look more favorably upon your application.

2. Understand what type of loan you might need

There are a variety of loan types out there. What would work best for your Alaska business? You might think about getting a line of credit, such that you could use over and over again. Or perhaps an SBA loan is your best course of action. Whatever the loan type, you want to understand the terms and interest rates associated before taking on the debt.

3. Do your research as far as lenders

Many think of traditional banks first when applying for business loans. However, banks tend to be more skeptical about loaning to smaller businesses. Whereas online lenders take a big picture approach. They are not fixated on one number or score. They want to know who you are and what value you bring to the table.

4. Have your documentation ready to go

The more organized you are, the more up-to-date your documents are, the faster the process will move. When a lender requests certain items such as your tax returns or bank statements, you want to have these ready to go and thus help to facilitate the loan process.

Doing business in Alaska can be a truly fulfilling endeavor. But there are probably times when you are going to need additional capital. If you are prepared for the process and know what you are going to do with your loan funds, it will be much easier for you.

First Union is Here to Help

We have worked with numerous Alaska-based businesses. From restaurants to beauty salons to medical practices, we’ve helped our clients get the cash they need precisely when they need it – not weeks or months from now. Even if your credit score is less than ideal, we might still have a financing solution for you. Call today let’s get started together.

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Only U.S.-Based Businesses are Eligible