Alaska Industrial Development & Export Authority Emergency Loan Guaranty Program

The contract establishes a Program Operator to administer the Alaska CARES grant program, which provides direct cash grants to Alaska‑based small businesses and non‑profit organizations affected by COVID‑19. The operator is responsible for receiving applications, verifying eligibility and expenses, disbursing funds (including direct payments to vendors), maintaining a segregated program account, reporting daily, weekly, and monthly activity, and ensuring compliance with federal and state regulations. The operator receives an administrative fee of up to 2.62 % of the total grant disbursements and must manage a rural‑access reserve representing 20 % of the program cap. • Administer AK CARES grants (eligibility verification, fund disbursement, reporting). • Manage a $150 M grant pool with a 2.62 % fee structure and a 20 % rural‑reserve. • Provide daily/weekly/monthly reporting, maintain GAAP books, and cooperate with audits.